President's Post Archives | Vail Valley Partnership https://www.vailvalleypartnership.com/category/presidents-post/ Support. Unite. Lead. Mon, 12 Apr 2021 13:41:27 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://www.vailvalleypartnership.com/fa-content/uploads/sites/2/2020/05/cropped-VVP-Mark-website-icon-32x32.png President's Post Archives | Vail Valley Partnership https://www.vailvalleypartnership.com/category/presidents-post/ 32 32 Great things happen when people come together https://www.vailvalleypartnership.com/2021/04/great-things-happen-when-people-come-together/ Mon, 12 Apr 2021 13:41:27 +0000 https://www.vailvalleypartnership.com/?p=37991 Groups and meetings primed for a comeback Face-to-face interaction is the platform where deals are struck, relationships are forged, and...
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Groups and meetings primed for a comeback

Face-to-face interaction is the platform where deals are struck, relationships are forged, and ideas are generated. There is real power of what business meetings, conferences, conventions, incentive travel and corporate events collectively do for people, businesses and communities.

There’s no substitute for a handshake and the value of your network can’t be overstated. This conventional wisdom is all true. But beyond the qualitative, there are concrete, tangible outcomes that come from personal connections which are forged and strengthened at meetings and events.

Every business needs to make smart decisions with its resources. Hosting a client event, sending a team to a conference, providing employees with incentive travel, and investing in a trade show are significant investments – but what’s the return? Here’s a hint: it’s far more than you think.

The benefits of group meetings, events, and trade shows ripple beyond the walls of the meeting space. When meetings come to town, everybody benefits. The face-to-face industry creates jobs, generates commerce and creates far-reaching community impact.

There is positive news coming from the capital to help jumpstart groups, meetings, and events throughout Colorado. Legislation designating $10 million in state stimulus funding to incentivize attraction of meetings, conferences and events through Dec. 31, 2022, was has been introduced into the General Assembly. The bill language provides support for our hospitality sector by incentivizing groups & meetings. Special thanks to Eagle County State Representative Dylan Roberts for sponsoring this legislation.

The proposal is intended to jumpstart attraction of meetings and events to Colorado as a way of driving recovery of our state’s ailing tourism economy. The goal is to give destinations across Colorado an edge in attracting new business by providing event organizers with a 10 percent rebate against allowable hard costs, including venue rentals, audiovisual needs, technology and food and beverage (no alcohol). Given that coronavirus conditions have driven up certain costs, Covid-related costs (such as costs relating to holding a ‘hybrid’ meeting) would qualify for a 25 percent rebate. As far as we know, no other state is offering a comprehensive incentive program, which (unless others follow suit) should put Colorado destinations in a great position to compete effectively for new near-term business to drive recovery.

The legislation proposes broad language requiring funds to be distributed proportionately across the state and in ways that drive economic impact in local communities. The legislation also provides for Colorado Tourism Office to consult with tourism stakeholders on shaping the program. Vail Valley Partnership has worked with statewide groups including the Colorado Hotel & Lodging Association, Visit Denver, Breckenridge Tourism Office and others to help craft the details on this statewide program.

The services provided by the meetings industry is often unappreciated, but the economic impact is unmistakable. The meetings industry supported more direct jobs than many large manufacturing sectors, including machinery, food, auto, and chemicals. It sustained more jobs than the telecommunications and oil and gas extraction industries as well. Every dollar spent on face-to-face meetings and business events generates an additional $1.60 for the economy –an increase of 160%.

The impacts are felt locally; the months of May, June, September, and October traditionally see more group & meeting visitors than leisure guests. This sector has been severely impacted by COVID related restrictions and is primed to rebound with a vengeance. It is exciting to know that the state recognizes the need to attracting groups and conferences to Colorado to help lead our recovery, and our community is ready to welcome our group, meeting & event attendees with enthusiasm.

 

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com

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Optimism abounds; normalcy in sight https://www.vailvalleypartnership.com/2021/04/optimism-abounds-normalcy-in-sight/ Mon, 05 Apr 2021 21:48:58 +0000 https://www.vailvalleypartnership.com/?p=37894 Economic indicators and local trends remain positive I love data. I believe that data is essential to making sound decisions....
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Economic indicators and local trends remain positive

I love data. I believe that data is essential to making sound decisions. Analyzing data provides the capacity to anticipate and plan for future events. And right now, the data is all trending positive which leads to increased optimism that we have turned the corner.

The U.S. Chamber and MetLife recently released the Q1 2021 Small Business Index—a survey of small businesses to take the temperature of the sector, see where small business owners are confident, and where they are experiencing challenges. The Q1 2021 index in particular focused on how the distribution of coronavirus vaccines is influencing the attitudes of small business owners towards the return to normalcy.

Economically, small business owners are a mixed bag with half seeing their business health as good amid a backdrop of a worsening economy. Half of small businesses (52%) say their business is in good overall health, in line with sentiments across the last ten months, but down 14 points from Q1 2020 before the impacts of the pandemic had been felt. In contrast, fewer small business owners rate the U.S. economy as “somewhat good,” down nine points from Q4 2020 and the percentage saying the country’s economy is in poor health is up nine points from Q4.

Among other insights, the Q1 Small Business Index finds that:

  • 54% of small businesses say the availability of coronavirus vaccines makes them feel more optimistic about their own business’s future
  • 59% of small businesses this quarter predict it will take six months to a year to get back to normal
  • 91% of small businesses are concerned about the pandemic’s effect on the national economy and 59% of small businesses rate the overall U.S. economy as poor

The reduction in COVID-19 cases, the rollout of the vaccine, the opening of the economy in many states, and federal stimulus have improved economic activity and the labor market. The outlook for 2021 is more favorable than it was six months ago.

Colorado’s indicators are better than the national numbers. Colorado’s real GDP growth rate for 2021 will be slightly higher than the U.S. rate. It will return to its pre-pandemic value in 2021. Retail sales will rebound in 2021 as a result of pent-up demand. Sales are expected to level off at pre-pandemic levels in 2022. There is more upside potential than downside risk in the Colorado economy.

The General Assembly introduced one of their first rounds of stimulus bills in the House and Senate. These are the first of many policies aimed at Colorado’s recovery, focusing on school investment, rural support, utility aid and job creation. Eight bills were introduced last week which address a range of issues, including infrastructure, rural economic development, agriculture and workforce development, and nearly all have bipartisan support. Additional stimulus bills are expected this week, including the Meetings & Events Incentive Program, which will support our special events & group and conference business.

The economic optimism, stimulus funds, and increasingly optimistic forecasts directly benefit Eagle County. Our tourism driven economy is increasingly returning to normal levels. March lodging occupancy is expected to be near 2019 levels, and groups, meetings and events are primed to return with a vengeance in late Q2 into Q3. We have new summer air service to Eagle County Regional Airport from both Chicago (American Airlines) and Atlanta (Delta Airlines).

We are not back yet and there is still work to be done, but the data suggests we are not far off. The data reinforces the need to focus on building back better and prepare for business levels to continue to rebound.

 

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com

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Partnership board opposes House Bill 1232 (Colorado Public Option) https://www.vailvalleypartnership.com/2021/03/partnership-board-opposes-house-bill-1232-colorado-public-option/ Tue, 30 Mar 2021 15:58:04 +0000 https://www.vailvalleypartnership.com/?p=37819 Public option not the pragmatic answer to our health insurance challenges We have no desire to add to the urban-rural,...
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Public option not the pragmatic answer to our health insurance challenges

We have no desire to add to the urban-rural, right-left, old-young, black-white, rich-poor noise that expouses much of today’s dialogue (frankly, it is tiresome and not productive). If we are partisan at all it is in a pro-economy and pro-problem solving manner, rather than partisan on traditional political issues. We’re interested in meaningful solutions to the challenges facing our community and that pragmatism and working together. Health care and insurance costs are an example.

Last week, Rep. Dylan Roberts, Rep. Iman Jodeh (D-Aurora) and Sen. Kerry Donovan introduced House Bill 1232, “Standardized Health Benefit Plan Colorado Option”. The legislation requires that health insurance carriers reduce premiums for individual and small business market plans by 20% by the end of 2024. If the Commissioner of Insurance believes that the carriers failed to meet that goal, a public health insurance option designed by an elected board would be authorized in Colorado.

Health care is too expensive. We know this and agree. We share the goal of lowering costs, decreasing the number of uninsured, and creating meaningful competition to drive prices down. We have (a lot) more work to do, but Colorado is on the right track pursuing market-based innovation and public-private partnership solutions to address this issue. However, the public option mandate is not the pragmatic solution we need to address this problem.

Consider: the benchmark silver premiums in Eagle and Routt counties of $424.47 is 4.7% above the Colorado median benchmark premium and is 7.5% below the national median based on Kaiser Family Foundation analysis of state average benchmark premiums. Eagle County had an uninsured rate of 12.5% in 2018 based on estimates from the U.S. Census Bureau for all people under the age of 65. This is slightly above the statewide median of 10.6%, but still places Eagle County in the top 75% of all Colorado counties. The uninsured rate in Eagle County has declined from 22.4% in 2013 to 12.5% in 2018 (Source: U.S. Census Bureau, 2008 – 2018 Small Area Health Insurance Estimates (SAHIE) using the American Community Survey (ACS))

Coloradans in the individual market have experienced meaningful reductions in insurance premiums, expanded product choice, and increased competition in the private market in recent years. Colorado has seen larger reductions on a percentage basis in the Affordable Care Act’s average benchmark health insurance premiums than Washington, the first state to establish a public option two years ago. Since 2018, Colorado’s benchmark premiums have fallen by 25.3%, compared to 15.5% increase in Washington State.

None of this is to indicate that we don’t need to focus on the challenge of health care and health insurance costs to our community, because we do. However, this legislation includes a provision that requires health care providers to accept all patients enrolled in health plans offered by the the state authority at the reimbursement rates set by the authority. Neither Medicaid nor Medicare – the two major national public insurance plans – include such an onerous requirement of providers. Failure to participate in the government-run plan is punishable by disciplinary action against the health care provider, including loss of license. This isn’t a public option, it is a public mandate.

Imagine the government stepping in to set prices for your business and then to remove your license to operate if you don’t cooperate. We would not accept this in any other industry and we should not accept it here. We are committed to solving the problem through market driven, public-private partnerships. The public option, as currently written, does not meet this criteria.

 

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com

 

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This is what leadership looks like https://www.vailvalleypartnership.com/2021/03/this-is-what-leadership-looks-like-2/ Mon, 22 Mar 2021 14:56:53 +0000 https://www.vailvalleypartnership.com/?p=37739 Annual Success Awards recognize community leadership Forbes magazine compiled a list of 15 things that the most successful leaders do every...
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Annual Success Awards recognize community leadership

Forbes magazine compiled a list of 15 things that the most successful leaders do every day without thinking. Some are no-brainers, such as making decisions and communicating expectations. Others show how great leaders advocate for the qualities they exemplify; these include leading by example, challenging people to think, being accountable to others, investing in relationships, and asking questions and seeking council.

Here’s the thing: leaders do not just lead their team, but also inspire the others around them to aspire to do more to improve their lives. Leaders learn more about other things that can help them to be and do better, or learn things to improve their capabilities. Leaders seek to listen to learn, and to make an impact. In a business sense, leaders often do more that can help their organization and continue to innovate their products and services, and their process.

Leadership is sometimes viewed through an employer/employee relationship. Recognition of employees has long been a cornerstone of effective management and successful organizations. But today, as our public and private sectors continue to work on recovery and resiliency, recognition is about more than employees – it is about recognizing leaders who have stepped up to benefit the community, regardless of job title or tenure.

The coronavirus pandemic has placed extraordinary demands on leaders in the public, private, and nonprofit sectors. There was not a predefined response plan to a global pandemic but rather community members stepping up to address issues facing the community while remaining flexible.

The term hero has been thrown about a lot over the past year and heroes rise to meet the occasion. Our community and others across the nation have rightly recognized our front-line responders, health care professionals, and others as heroes (and let’s hope this recognition has staying power once we are through with COVID). The strength of our community lies in the number of leaders and hospitality heroes who have stepped up in meaningful ways to respond, react, and support the community. Our local leaders helped to foster collaboration and transparency – resulting in what might be termed “hospitality heroes”.

The Annual Vail Valley Success Awards seek to recognize organizations and individual professionals nominated by their peers who they thought deserved recognition for their efforts to take a leadership position, champion a cause, or better our community. This is what leadership looks like. Over 170 peer nominations that run the gamut from nonprofits to innovative companies to individuals with one common thread: leadership.

These organizations and individuals have excelled over the past year and it is important to acknowledge their hard work and dedication as among the best in the Vail Valley. These businesses and individuals play a significant role in driving the Vail Valley’s business community and adaptation during the most difficult year that most of us can remember. As author Simon Sinek says, “If your actions inspire others to dream more, learn more, do more, you are a leader.”

The concept of inspiring others is a vital part of continuing leadership. Our community is in good hands, and as one past Success Award winner and selection committee member mentioned to me “I had no idea how many people and how many organizations were doing such great things in our community, and I’m well connected and thought I was aware of most of what was going on”.

Our community is filled with leaders. Congratulations to all our nominees and hospitality heroes. We are blessed to have so many in Eagle County who exemplify what leadership looks like.

 

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com

 

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Stimulus packages help business regain traction to lead recovery https://www.vailvalleypartnership.com/2021/03/stimulus-packages-help-business-regain-traction-to-lead-recovery/ Mon, 15 Mar 2021 17:54:02 +0000 https://www.vailvalleypartnership.com/?p=37598 Business support key to state and federal stimulus packages On March 11, 2020, the World Health Organization (WHO) declared the...
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Business support key to state and federal stimulus packages

On March 11, 2020, the World Health Organization (WHO) declared the COVID-19 outbreak a global pandemic. One year later, businesses are taking the lead on recovery and resilience with the support of state and federal government.

Last week, Governor Polis and legislative leadership announced initial details of the latest $700M state stimulus package. On the footsteps of the state stimulus, the federal government also enacted a stimulus of $1.9T last week. A significant amount of money will be available for state and local appropriation as a result of this federal package.

The state stimulus focuses on five key areas to help Colorado recover. The plan will utilize one-time funding available as a result of improved economic projections for the current state budget year.

The state plan focuses on strengthening small business through funding to the Energize Small Business Gap Fund, relief for Arts/Culture organizations, restaurant sales tax relief, incentives for events & conferences, and the Colorado Startup Loan Fund. Additional areas of focus include revitalizing our infrastructure, supporting families, investing in rural Colorado, and workforce development. These efforts recognize the role business plays in our continued recovery.

On Thursday of last week, President Biden signed the $1.9 trillion COVID-19 aid reconciliation bill, coined the “American Rescue Plan.” The headlines for the $1.9 trillion COVID-19 aid reconciliation bill are centered around the direct support to citizens including a $1,400 stimulus check, the extension of unemployment benefits through September 6 and increase payments to $300/week (with the first $10,200 in benefits being non-taxable), and changes and expansions to the child tax credit. Changes include making the child tax credit fully refundable instead of partially refundable and increased to $3,600 for children under 6 and $3,000 for children 7-17.

The American Rescue Plan Act is more than direct citizen support; it also provides additional relief for small businesses and hard-hit industries for programs the Small Business Administration is currently administering and adds new efforts to support our business community, including:

  • $7.25 billion additional for the Paycheck Protection Program, including to expand eligibility to additional nonprofits and digital news services
  • Additional funds are allocated for the Shuttered Venue Operators Grant program, and now allows businesses to apply for both a PPP loan after Dec. 27, 2020, and the SVOG
  • $15 billion additional for Targeted Economic Injury Disaster Loan Advance (EIDL) payments, including NEW $5 billion for Supplemental Targeted EIDL Advance payments for those hardest hit
  • NEW: $28.6 billion for the Restaurant Revitalization Fund for industry-focused grants
  • NEW: $100 million to establish a Community Navigator pilot program; grants will go to eligible organizations supporting efforts to improve access to COVID–19 pandemic assistance programs and resources.

Businesses such as bars and restaurants hurt by the pandemic will receive $25 billion in aid to help cover costs of rent, utilities, payroll, and other operational expenses. This reinvestment in business recognizes that our business community has been a fundamental part of helping our economy and communities adapt and recover from the pandemic.

In the face of the escalating crisis, local businesses continued to step up and we have seen a record number of businesses and individuals nominated for Vail Valley Success Awards. It’s been a challenging year and through it all the business community has been a driving force for good. Dozens (probably hundreds) of local businesses have shared with us their stories of grit, ingenuity, and problem-solving. It is good to see local, state, and federal government recognize this as well.

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com

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The system lives upstream https://www.vailvalleypartnership.com/2021/03/the-system-lives-upstream/ Mon, 08 Mar 2021 15:15:46 +0000 https://www.vailvalleypartnership.com/?p=37448 Extension of Payroll Protection program helps continued economic recovery & resiliency Have you heard the parable about the two friends...
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Extension of Payroll Protection program helps continued economic recovery & resiliency

Have you heard the parable about the two friends who were fishing on the bank of a river?

As soon as they sat down, they hear shouts for help from the water. A small child was in the river, so they launched into the water to save them. No sooner did they have the first child safely on shore, then another child floated downstream struggling to keep her head above the water. The pair of friends leapt back into the river to save this child, too.

In short order they had the second child on shore, and, you guessed it, another child in distress was in the water.

At this point, one of the friends stood up and started running up the hill. The other one, who had already started into the water to save the child, said, “where are you going? This kid needs help!”

“I’m going upstream to find out who keeps throwing these kids in the river!”

It’s hard to take our attention away from the problems immediately in front of us. But many of these problems are results of systemic issues—things that are happening upstream and largely out of our immediate field of view. Without addressing the system itself we will always have drowning kids in our river.

This parable was shared in the context of workforce development from our partners at CareerWise Colorado. The parable applies to other community issues: healthcare, transportation, and economic relief. The good news is we don’t have to do just one or the other – we need partners focused on both the upstream and downstream aspects of these challenges.

It is within this context that we urge extension of the deadline for the Paycheck Protection Program (PPP) through December 31, 2021. Our businesses need the upstream support of the federal government as consumer confidence continues to build back and as local groups such as Vail Valley Partnership and Small Business Development Center focus on downstream impacts.

Congress created the PPP through passage of the bipartisan Coronavirus Aid, Relief, and Economic Security Act (CARES Act), and in the past 12 months more than 5 million small businesses received PPP loans. That aid allowed between 1.4 and 3.2 million employees to stay on payroll even when their employers were forced to close their doors.

Despite the breadth of this emergency aid, small businesses continue to struggle, especially minority-owned businesses. Survey data show that 66% of minority-owned small businesses fear permanent closure due to the pandemic compared to 57% of non-minority-owned firms. The same report shows that minorities have a harder time accessing the capital needed to keep their businesses open. More recent data show neighborhoods with a higher concentration of minority-owned businesses are experiencing higher business closure rates (36%) compared to businesses in non-minority communities (22%).

Legislation enacted last December helped target aid to small businesses that need help the most and the American Rescue Plan passed by the U.S. House of Representatives last week goes even further by providing targeted aid for the restaurant industry and for shuttered venues, and by directing outreach and assistance to entrepreneurs in communities where minority-owned businesses are struggling.

All these steps need additional time for them to actually produce the desired result. Extending the PPP deadline through the end of this year will ensure that the segment of small businesses facing the greatest obstacles do not get left behind.

We continue to need the help of Congress to ensure that we can get upstream to help our buisnesses emerge from the COVID-19 pandemic in a position of strength that bolsters America’s recovery.

 

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com

 

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Let’s finish strong https://www.vailvalleypartnership.com/2021/03/lets-finish-strong/ Mon, 01 Mar 2021 18:19:59 +0000 https://www.vailvalleypartnership.com/?p=37367 We are quickly approaching the one-year anniversary of the day when Covid-19 got real for Eagle County. Through January and...
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We are quickly approaching the one-year anniversary of the day when Covid-19 got real for Eagle County. Through January and early February of 2020, worries over the coronavirus then spreading in China’s Hubei province were growing, but outside of our health care professionals it was not something that impacted our business or daily life.

Because COVID-19 was a new virus, it was difficult for health care professionals to determine how to treat those who became sick, or how to prevent others from becoming infected. The best advice, at the time, came down to washing hands, staying home if feeling ill, and avoiding large gatherings — which manifested in the term “social distancing.” As more became known, we were encouraged and then required to wear masks to reduce the spread.

Little did we know that one year later, government – at the federal, state, and local levels – has stepped up in ways we could not have fathomed we would need. Vaccines and diagnostics have been developed and rolled out, at record speed, thanks to public-private sector collaboration.

Last Friday, Governor Jared Polis provided an update on Colorado’s response to the ongoing COVID-19 pandemic and the State’s efforts to vaccinate Coloradans and announced Colorado’s efforts to move into Phase 1B3 of the vaccine prioritization plan will begin on March 5, which now includes current agriculture and grocery store workers, Coloradans aged 60 and older, and Coloradans aged 16-59 with two or more comorbidities.

COVID-19 anxiety is at a low, with notable declines in concerns about contracting the virus and the financial impact of the pandemic. Meanwhile, optimism about the course the coronavirus situation will take in the next month reached another record high, with 49.1% feeling things will get better and just 13.7% feeling it will get worse. This is a marked change from the start of the year, when 55.9% of Americans were pessimistic and only 20.9% were hopeful about the coming weeks.

The combination of increased vaccination and consumer confidence is good news, as vaccines offer great hope to turn the tide of the pandemic. Good news, as our national and local economy requires consumer confidence in order to thrive. But we’re not out of the woods just yet – we need to remain diligent and finish strong.

It may sound impossible anytime you hear the phrase “finish strong.” Our natural tendency might be to settle for the status quo or accept our fate, and when we face big challenges, we often have the temptation to quit or compromise our standards as the finish line approaches. Eagle County has great momentum on vaccinations and our economic indicators continue to trend in the right direction. Yet we must focus on finishing strong for the health of our community and our economy.

Finishing strong is not about being preached to and it is not about scare tactics. The idea behind finishing strong is to recognize a positive message that appeals to our sense of humanity and sense of doing the right thing for each other.

Let’s acknowledge that it’s not always easy for front line employees to finish out the season strong with so many other things going on, and that it is certainly not easy to continue to focus on the public health challenges that COVID has brought. Let’s also acknowledge that our community is not built upon taking the easy way out, and we can do this.

The light of the end of the tunnel is getting close and momentum is on our side. It is up to us to finish strong.

 

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com

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Reasons to feel optimistic regarding the economy https://www.vailvalleypartnership.com/2021/02/reasons-to-feel-optimistic-regarding-the-economy/ Mon, 22 Feb 2021 15:44:18 +0000 https://www.vailvalleypartnership.com/?p=37296 After months of headwinds, economic trends are looking positive Did you hear that? Listen closely: it’s the sound of good...
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After months of headwinds, economic trends are looking positive

Did you hear that? Listen closely: it’s the sound of good news, which we may be getting used to again.

Destination Analysts reports that as COVID-19 hospitalizations continue to decline after their January peak, Americans’ optimism about the month ahead soared an additional 5 percentage points in the last week, reaching another record high. Now 44.2% feel the pandemic situation in the United States will improve over the next four weeks. Meanwhile, just 18.3% (a record low) feel the pandemic will get worse, after topping 55% at the start of the year.

Fortunately, the focus of the rapidly improving sentiment around travel is not just on its safety and accessibility, but true enthusiasm. When asked to use just one word to describe how they feel about travel right now, “excited” is what Americans largely cite. This feeling has become even more predominant since the start of the year and is in stark contrast to earlier periods of the pandemic in which fear and caution prevailed.

Feelings translate to actions. An incredible 83.5% of American travelers have at least tentative trip plans right now. The majority of Americans continue to believe they will be vaccinated from COVID-19 by this summer, which we see reflected in the timing of their trip plans, including a notable spike in July and consistency in the months following. And as each week more Americans have been vaccinated as well as know others who have, more trips in the short term appear. The proportions with trips planned for April and May have inched up over the last month (including for Easter and Spring Break). Well over half of American travelers will take a leisure trip within the next 3 months, taking 1.1 trips on average.

There are also plenty of reasons to feel optimistic about our local trends. For the first time in three months, DestiMetrics is reporting positive year-over-year gains in the booking pace for mountain vacations. Reservations taken in January 2021 for arrival in that same month, were up 42.9 percent compared to January 2020, while bookings for February arrivals based on January-only bookings were up 23.5 percent.

While national traveler sentiment and local booking trends certainly bode well, we’re also seeing positive momentum locally regarding disease trends and a loosening of restrictions. Eagle County moved to the yellow level of the state’s COVID-19 dial, which means there are less restrictive regulations for indoor dining and events. The transition to yellow means indoor capacity at restaurants will increase from 25% capacity to 50% capacity, and 50% capacity will be allowed for spectators at sporting events.

Eagle County is also accepting “5 Star” business applications to allow qualified venues to operate in a less restrictive COVID-19 Dial Level under current public health guidance. The county will be eligible to institute the program after the state approves the county’s request to do so, when there are 7 consecutive days of the COVID-19 incidence rate in the appropriate Dial Level.

With increased vaccinations, more relief payments going out, the possibility of additional relief coming, and (fingers crossed) a continuing decline in caseloads, there is reason for optimism, yet the high rates of disease spread are still impacting our local economy. We still have several more months of wearing masks, keeping physical distance and limiting large gatherings. After a year of headwinds, these precautions will support our economy by lowering disease spread and allowing us to take maximum advantage of the economic tailwinds and trends in the coming months.

 

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com

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Economic recovery and building back better https://www.vailvalleypartnership.com/2021/02/economic-recovery-and-building-back-better/ Mon, 15 Feb 2021 17:27:42 +0000 https://www.vailvalleypartnership.com/?p=37163 We face the prime economic challenge of our times across the country, and Eagle County is no different: how do...
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We face the prime economic challenge of our times across the country, and Eagle County is no different: how do we “build back better” and create an economy that provides enough good jobs so that working households can raise a family and pass on a better opportunity to their children?

Government assistance through the pandemic has been vital to helping people. We support and applaud the efforts of the national and state government to assist during these times. And we give high praise and kudos for the leadership at Eagle County and local towns for their grant programs and stimulus plans to support businesses and people alike. These programs – as good and impactful as they have been, and as needed as they are –cannot supplant the value of a good job.

How do we build a community where the proverbial American Dream is attainable and achievable? Quality of life begins with a good job, and a prosperous community is a place with a broad middle class where wages and benefits allow everyone to pay the bills, save for retirement and the kids’ education, and pass on better opportunities to the next generation.

Across the country, the most prosperous regions share one common characteristic: concentrated talent. The new economic reality is that talent attracts capital, not the other way around. For businesses, talent is the asset that matters most. “Talent” equals a skilled workforce – our people – and recovery requires a focus on people development.

To lead our economic recovery, we must focus on the investment in our people, our human capital. Economic development in Eagle County and our mountain region is not actually about creating jobs or attracting businesses or growing the economy. While these are desired outcomes, what we really need to do is to focus on removing barriers and growing our people (talent).

Growing our talent pipeline and retaining talent in Eagle County is a critical first step in developing and uncovering our hidden human capital. Of course, it does us no good to grow our talent base if our talented workers then flee for other areas. If we are to retain our talent and eventually create a demand for and ability to attract more – a prerequisite for economic growth and business expansion and retention – we must also invest in the types of places where an increasingly mobile workforce wants to live and work. This requires a focus on housing, healthcare, early childhood and other cost of living barriers that have long challenged our region.

Local businesses need local employees; there are important advantages to businesses that are owned by and largely employ local residents. More dollars spent at those businesses stay in the local community. They provide jobs and opportunities and, importantly, amenities for local residents. And, of course, local businesses add more to the character of their communities than national chains, creating the types of places where a globally mobile (location neutral) workforce and, therefore, high-wage businesses want to locate.

Our economic development approach must continue to prioritize the startup and growth of locally owned businesses. The core of this effort is removing barriers to their success by developing an ecosystem to ensure that entrepreneurs have access to the training, funding, and staffing they need. In order to grow and retain business, we need to remain focused on housing and other cost of living challenges. A focus on people development and removing barriers to retention is the roadmap forward to “building back better”.

 

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com

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The importance of community https://www.vailvalleypartnership.com/2021/02/the-importance-of-community/ Mon, 08 Feb 2021 17:28:15 +0000 https://www.vailvalleypartnership.com/?p=37060 The importance of community, aka, how a grieving community can benefit by doing good Every day we hear the word...
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The importance of community, aka, how a grieving community can benefit by doing good

Every day we hear the word community used by government officials, businesses, news anchors, and chambers of commerce. But what does it really mean? According to the Merriam-Webster dictionary, community can have many meanings, but the one that most closely defines the way we see it is, “a unified body of individuals” further explained as “a group of people with a common characteristic or interest living together within a larger society.”

Your neighborhood is a community, your gym or your professional organization is also a community. It makes sense that the communities we gravitate toward, both personally and professionally, are made up of like-minded people who make us feel uplifted, encouraged, inspired, and supported.

Being part of a community gives us a sense of belonging. But what, exactly, does community mean and how does it manifest in our lives? Just as denoted by the root and the suffix of the word (common-unity), a certain segment of the population is united by a familiar thread. In Eagle County, that familiar thread includes a passion for our outdoor recreational opportunities and the mountain lifestyle. It also includes the ability to come together in times of turmoil and hardship.

Our community has been united around loss over the course of the past weeks. There is a huge hole in our collective hearts as our Eagle River Valley community suffered greatly last week with the loss of numerous community leaders. Community is where we find comfort in difficult times. It isn’t a luxury, a nice thing; community is essential to our well-being.

Community is about growing with, and providing support to, others. The very idea of community comes into being because people like to cooperate with each other. Adam, Andy, and Seth lived this and were exemplary examples of leadership, growing with others, and cooperation..as did Jeff and Johnny.

“United we stand, divided we fall”, how true. These gentlemen exemplified community – not just being geographically close or part of the same social web network, but about feeling connected and responsible for what happens in their community. Their involvement to build a better community through their work, volunteerism, and attitude allowed them to be role models to others.

Being a part of a community makes us feel as though we are a part of something greater than ourselves. It gives us opportunities to connect with people, to reach for our goals, to make us feel safe and secure. A true community is about being connected and responsible for what happens. Not just watching, but actively participating and making a difference through their actions.

Adam, Andy, Seth, Jeff and Johnny made a difference within their networks and within a larger community. Their positive impacts are their legacy. Leaders, employees, citizens – everyone can make a positive difference from any position, without needing permission or resources from others. The truth is, every one of us is put in this world to contribute and make a difference in our own unique way. It need not be anything exemplary (although in their own way, each of them absolutely was exemplary). It just needs to be something you do with the intention of doing good and helping others.

As we come to terms with the loss individually and together, remember that you can change the world by helping one person at a time. As our community continues to grieve, I encourage you to ask yourself, how can I follow their lead and learn from their legacy by making a difference in my community? I think they would like that.

 

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com

 

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