City of Westminster, CO - Economic Development Services

Silverlode provided a Colorado city with company contacts and outreach strategies to attract targeted users for new buildings.

City of Westminster, CO

Service(s):

Economic Development Services

Opportunity:

The City of Westminster, CO was proactively improving its aging real estate product. The city was reclaiming the site of an obsolete shopping mall and was working with a developer on a mixed-use development for the site. The City was also working on other proposed developments which could yield significant office inventory. The City understood that there was unmet demand for this office inventory, but did not know how to target and market it to office users around the country. Silverlode was engaged to conduct a target industry analysis for office users.

Solution:

Because Westminster wanted to avoid poaching businesses from surrounding communities, Silverlode developed a strategy to identify leads in other regions of the country. Chicago and Los Angeles were recognized as high-cost, high-tax areas with sometimes challenging business climates, which meant those areas may be vulnerable and companies there agreeable to relocation. Through a comprehensive target industry analysis of the office population, Silverlode identified those cities' sectors best suited for recruitment to Westminster. The study identified sectors by four- to six-digit NAICS and penetrated deeper to identify specific companies in the Chicago and Los Angeles MSAs. We provided the city with a detailed list of over 650 companies and recommended a strategic approach to engage those companies.