1 MEMBERSHIP 3 Great Clubs CASTLE ROCK ERIE LITTLETON <strong>Castle</strong> <strong>Rock</strong> <strong>Chamber</strong> Business Voice • www.castlerock.org • For Advertising Info Call 303-663-6525
CEO’s Focus I have been having conversations with many businesses around town, asking them how their business is doing in ‘07. Earlier in the year, there was a lot <strong>of</strong> grumbling from retailers, restaurateurs and realtors hard hit and trying to recover from the winter blizzards. Now I am glad to be hearing a different tune. Many seem to be seeing somewhat <strong>of</strong> a turn-around. Beginning with the housing market - we have seen a substantial decline in the building <strong>of</strong> new homes in <strong>Castle</strong> <strong>Rock</strong>, in fact the projections for this year are approximately 500 permits as compared to last year’s roughly 1400 permits. However, in the past six years we saw record high purchases and I believe what we are seeing now is still a decent rate <strong>of</strong> growth. In regards to home resale, good news is that homes are “moving”, however the earlier winter storms were devastating to the housing sales market in the first quarter <strong>of</strong> the year. There is a lot <strong>of</strong> inventory in the <strong>Castle</strong> <strong>Rock</strong> area and homes are on the market for an average <strong>of</strong> 110 days. <strong>Castle</strong> <strong>Rock</strong> real estate is a bit slower in the housing sales rate compared to the metro area market at this time. However, the higher end real estate has been increasing in sales. Much <strong>of</strong> the housing inventory is due to foreclosures as a result <strong>of</strong> the sub-prime market. Long term confidence in the <strong>Castle</strong> <strong>Rock</strong> community is demonstrated by the commercial market - we have development <strong>of</strong> new pr<strong>of</strong>essional <strong>of</strong>fice and retail space, which is an indicator that there is confidence in a positive future economy for <strong>Castle</strong> <strong>Rock</strong>. Those new projects are: The Overlook at <strong>Castle</strong> <strong>Rock</strong> - <strong>of</strong>fice space Shops at <strong>Castle</strong> <strong>Rock</strong> - new retail Primrose School - education Colorado Community Bank - some retail Health One - Sky Ridge Medical Imaging Center DCL Concepts - restaurant and retail space New World Mill Works - manufacturing Meadows Pr<strong>of</strong>essional Plaza - new <strong>of</strong>fice space Lowes - open later this year Sales tax for 2007 is estimated to be up by 3% over last year’s numbers; however the Town <strong>of</strong> <strong>Castle</strong> <strong>Rock</strong> projected a 6% growth rate, which may cause budgeting issues. Again, early sales were down due to weather issues. Now for tourism. Our local hotel management tells me they are impacted by the goings- on in Denver and Colorado Springs by receiving the overflow. In addition, we have the Douglas County Events Center in our “backyard” which is <strong>of</strong> great assistance when they host their equestrian shows and other events. The hotel accommodations and the rates they are able to charge, are definitely higher this year, even with the loss <strong>of</strong> the International PGA Tour. I am also hearing that <strong>Castle</strong> <strong>Rock</strong> is becoming much more <strong>of</strong> a “player” in the wedding industry. This niche is beneficial due to attendees making their vacation plans around an area wedding and extending their stay at the property while they tour the metro area. The <strong>Chamber</strong> is in the process <strong>of</strong> creating a hospitality/tourism industry group to look at trends and how we can capitalize on promoting our community. This seems to be a “roller coaster” year, with the increase in gasoline prices being a major part <strong>of</strong> the issue. As a result, Coloradoans traveling within the state seem to be on the rise. Gas prices many be curbing some <strong>of</strong> our spending habits in the short term, but I think when the general public gets use to paying higher prices, then purchasing will increase. The current stock market also continues to climb, which will positively influence people’s spending habits. Another business segment is home-based businesses, which represent about 70% <strong>of</strong> the business community. Recently, the <strong>Chamber</strong> conducted two focus groups targeted at the homebased business sector to find out what were the top issues facing their business? I found it interesting that many single proprietors are at the stage <strong>of</strong> trying to decide if they should increase the size <strong>of</strong> their business, which would mean hiring their “first” employee, or maintain their “status quo”. It is the age-old question for home-based business, “Do I really want to expand?” This might mean stepping out <strong>of</strong> their comfort zone, leasing <strong>of</strong>fice space, dealing with the headache <strong>of</strong> employee hiring and the concern <strong>of</strong> about failure? Through the <strong>Chamber</strong>’s new partnership with SCORE - “Counselors to America’s Small Business” - we are conducting one-on-one business counseling at the <strong>Chamber</strong>’s <strong>of</strong>fice. Through this partnership, in less than See CEO, p. 10 The purpose <strong>of</strong> the <strong>Castle</strong> <strong>Rock</strong> <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong> is to: • Support and promote member businesses • Be a “voice” to government • Foster a livable community with positive growth Your <strong>Chamber</strong> is: • Creating a Strong Local Economy • Promoting the Community • Advocating Political Action • Creating Networking Opportunities • Representing Business to Government Call Us: 303-688-4597 or visit our website: www.castlerock.org The <strong>of</strong>ficial <strong>Castle</strong> <strong>Rock</strong> <strong>Chamber</strong> website <strong>of</strong>fers relocation and school information, Business Directory with links, community events schedule, and much more. EXECUTIVE COMMITTEE Chairman <strong>of</strong> the Board Steve Thayer Sport Clips Chair – Elect Pam Jenkins <strong>Castle</strong> <strong>Rock</strong> Bank Treasurer Paul Eakins, CPA Eakins & Company, P.C. Treasurer – Elect Lisa Frizell Douglas County Government Immediate Past Chairman Christine Plant Best Western Inn & Suites <strong>of</strong> <strong>Castle</strong> <strong>Rock</strong> DIRECTORS Aaron Barrick Folkestad, Fazekas, Barrick & Patoile, PC Paul Donahue Edwards Jones Investments Lisle Gates <strong>Castle</strong> View High School Brock Goodwin Mutual <strong>of</strong> Omaha Michael House Spectacle Entertainment Marketing, Inc. Jamie Kimbrough Re/Max Alliance Heather Marks Creative Custom Interiors Dave Mittan FirstBank <strong>of</strong> Douglas County Linda Watson Sky Ridge Medical Center Lori Weinstein Premier Pilates and Wellness Ex-Officio Pam Ridler, CCE President, <strong>Castle</strong> <strong>Rock</strong> <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong> David Mitchem President, <strong>Castle</strong> <strong>Rock</strong> Economic Development Council Randy Reed Mayor Town <strong>of</strong> <strong>Castle</strong> <strong>Rock</strong> Sally Misare Town Clerk CHAMBER STAFF President Pam Ridler pam@castlerock.org Director <strong>of</strong> Marketing Diane Leduc diane@castlerock.org Director <strong>of</strong> Programs Melissa Moroni melissa@castlerock.org Director <strong>of</strong> Membership Development Michael Searcy mike@castlerock.org Events Manager Todd McPherson todd@castlerock.org Office Administrator Tammy Cratty tammy@castlerock.org Client Resource Associate Laura Moore laura@castlerock.org Membership Account Executive Michael House mhouse@castlerock.org 303-688-4597 <strong>Castle</strong> <strong>Rock</strong> <strong>Chamber</strong> Business Voice • www.castlerock.org • For Advertising Info Call 303-663-6525
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