Small Businesses Drive Big Change in Rural Communities Eagle, Colorado Business owners, like Schroeder, know that small businesses play a crucial role in our state, especially to sustain the economic health of rural communities. According to the latest Paychex | IHS Markit Employment Watch, small businesses represent 95% of all U.S. employers, underscoring their importance as job creators and local economy drivers. Especially in rural communities, small businesses drive economic growth. Eagle has seen a 3% job market increase over the past year and future growth is predicted to increase by 50% over the next 10 years, according to a BestPlaces.net 1 report from 2019. Of course, the economic fallout that is happening now as a result of the COVID-19 pandemic has not been fully realized yet. Recent growth and what will be paramount to its future recovery is thanks to the collaborative culture of its economic support groups. The Eagle Chamber of Commerce, the Town of Eagle’s Economic Vitality Council, the Downtown Business Alliance, and the newly formed Downtown Development Authority continually work to support growth initiatives and small business sustainability. The Town of Eagle, for example, was able to respond quickly with COVID-19 mitigation efforts for small businesses, including allowing restaurants to expand into public spaces. Kari and her husband, Greg, are taking economic recovery in Eagle very seriously. Greg is active in the Downtown Business Alliance and the newly formed Downtown Development Authority. To identify the needs of Eagle businesses and assist in recovery, Schroeder has been leading the implementation of a survey that will inform a web-based economic dashboard to be rolled out in January 2021. The goal is to ascertain key economic metrics in order to direct time, energy and funding focus in the future. This will be an essential guide to help the community recover from the expected economic fallout from the COVID-19 pandemic. “We want to be a part of helping Eagle’s newly formed Downtown Development Authority identify the needs and plan for a more vibrant downtown core,” said Schroeder. “We would like to see the Economic Vitality Committee, Downtown Development Authority and the Chamber coordinate efforts in making Eagle the best mountain community to live and work.” 25 KEVIN RUCK/ADOBE STOCK
Business in Colorado 2021 Business in Colorado: Page 25
