Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Impact topic
No spam. Unsubscribe anytime.
DOF says $800M Vibrant Denver package could generate 1.8 multiplier and roughly 1,100 jobs per year
Summary
DOF presented an economic impact model claiming a conservative 1.8 multiplier for an $800M package, an estimated 1,100 jobs per year, about $400M in wages, and roughly $28M in sales tax revenue; staff said the model used generic project buckets and was validated by CU Boulder.
The Department of Finance told the Geo Bond Working Group the economic modeling for an $800 million Vibrant Denver bond shows notable local economic effects even when modeled conservatively.
DOF said the model was developed with AGC and validated by researchers at the University of Colorado Boulder. Using generic project buckets rather than project-level inputs, the department reported a 1.8 economic multiplier ("every dollar that we would spend brings a dollar 80 back"), an estimated 1,100 jobs created (presented as an annualized figure within the program window), roughly $400 million in direct earnings going to workers, and about $28 million in sales tax revenue over the modeled period.
DOF emphasized the model is generic and that any specific project mix can move the results up or down; staff invited councilmembers to request a breakdown by bucket (roads, vertical buildings, parks, housing) to see how the assumptions map to their district priorities. CU Boulder reportedly reviewed the methodology to validate assumptions.
Councilmembers welcomed the analysis but several asked for more granular breakdowns tied to specific candidate projects so they could evaluate local economic benefits for their districts.
