Boulder Council reviews economic vitality strategy for post-pandemic growth

Boulder City Council is set to enhance its economic landscape with the introduction of a comprehensive Economic Vitality Strategy aimed at fostering a resilient and inclusive economy over the next two to three years. During the study session on April 24, 2025, the Economic Vitality Manager presented the draft strategy, which seeks to address the challenges posed by the pandemic while capitalizing on new opportunities for growth.

The strategy is designed to support local businesses, particularly micro and BIPOC-owned enterprises, by providing access to capital, mentorship, and resources. It emphasizes the importance of community engagement, having incorporated feedback from local stakeholders, including business owners and nonprofit leaders, to ensure diverse perspectives shape economic policies.

Key focus areas of the strategy include equity, resilience, vitality, and innovation. The city aims to balance support for small businesses with the need for innovation, ensuring that economic growth does not come at the expense of affordability and community values. Specific initiatives will target high commercial vacancy rates and promote sustainable practices among local businesses.

The strategy also outlines plans to enhance disaster preparedness and recovery efforts, reflecting lessons learned from past events like the COVID-19 pandemic. Additionally, it aims to attract new investments in advanced industries such as aerospace and artificial intelligence, bolstered by upcoming projects like the Limelight Boulder Hotel and the Sundance Film Festival.

Next steps involve finalizing the strategy based on council feedback, after which it will be integrated into the Boulder Valley comprehensive plan and inform departmental work plans. This proactive approach positions Boulder to not only recover from recent economic challenges but also to thrive in a competitive landscape, ensuring a vibrant and equitable future for its community.