Client: City of Centennial (CO)
The City of Centennial retained GG+A to assess conditions and trends impacting Centennial and to profile Centennial’s economic base and real estate/land use inventory. The purpose of GG+A’s research and analysis was directed toward providing an information base and perspective for a strategic economic development plan and implementation of an ongoing economic development program.
The assessment included a review of employment and business establishment data over time to (a) derive a profile of the economic structure and employment base of Centennial and its relative position in the regional economy; and (b) identify potential industry targets. GG+A also analyzed demographic and labor force characteristics of the community. The City’s inventory of office, industrial/flex, and retail space was assessed and historical patterns of change within the local and regional economy were summarized. Prevailing land and building densities and relationships between employment and the amount of building space utilized to house workers were identified.
In addition, GG+A interviewed representatives of the Metro Denver Economic Development Corporation and Denver South Economic Development Partnership to obtain perspective on conditions and factors affecting the regional and local economies. GG+A also conducted an econometric shift-share analysis to prepare an order-of-magnitude projection of employment by industry sector. GG+A converted the estimate of employment by economic sector into an estimate of building space demand by type of land use and prepared an initial estimate of land needed to accommodate the forecast building space demand.
Finally, GG+A prepared a report summarizing the results of the research and analysis and recommending the next set of tasks to complete for the development of an economic development plan and implementation of an ongoing economic development program.