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Economic development office releases 2024 'State of Business' report; highlights workforce, wayfinding and site readiness needs
Summary
Kimberly Bailey and Nate Schall presented the city’s "2024 State of Business" report on Jan. 14, summarizing outreach to local employers and recommending priority actions on permitting, marketing, curb appeal and workforce development.
Kimberly Bailey, executive director for the Fountain Urban Renewal Authority and the city’s economic development lead, presented the "2024 State of Business" report to the Fountain City Council on Jan. 14.
Bailey and Economic Development Specialist Nate Schall summarized outreach to roughly 31 local businesses and analysis of occupational-license data. The report segmented businesses into four tiers (primary/high-wage employers, secondary employers and main-street businesses, general retail, and entrepreneurs) and mapped roughly 350 locally registered operations across six business districts. Schall said about 40% of firms employ fewer than 10 people and approximately one-third occupy less than 3,000 square feet; about 10% have facilities larger than 50,000 square feet.
Key findings included: roughly equal numbers of business losses and gains between 2019 and 2024 but distribution across different industries; hospitality and restaurant sectors recovering and showing growth; a significant share of long-tenured "legacy" businesses; and recurring needs for workforce recruitment, site readiness and infrastructure capacity. Bailey said the city’s low commercial vacancy (about 4%) is a constraint, noting an "ideal" vacancy around 12% to allow churn and space for new entrants.
From the survey and stakeholder conversations the economic development team prioritized four recommendations for near-term action: 1) simplify the business point-of-entry and permitting path to reduce lag and confusion; 2) develop a shop-local campaign and targeted marketing; 3) create creative resources and cost-share options to improve private-property curb appeal and underperforming parcels; and 4) invest in workforce pipeline efforts (job fairs and targeted training) to match local employers’ needs. Bailey emphasized that staff will work with regional partners — including El Paso County, Colorado Springs-area partners and the Chamber of Commerce — rather than funding the full effort alone.
The report and a related Small Business Resource Guide were posted on the city website; Bailey said the wayfinding/master-signage master plan is expected to return to council by spring 2025. No vote was required; council members thanked staff and offered follow-up direction on making materials more visible online and coordinating a local job fair.
