THE BUSINESS T IMES News APRIL 21-MAY 11, 2022
VOLUME 29, ISSUE 8
THE DEFINITIVE SOURCE FOR GRAND JUNCTION BUSINESS NEWS SINCE 1994
THEBUSINESSTIMES.COM
In this issue
Trends 2 Contributors Opinion 4 Business Briefs 5 Business People Almanac
n Growing effort A cybersecurity company based in Grand Junction has exceeded expectations for its rapid growth.
A family affair
n New director
A new director has been hired to oversee operations at the Small Business Development Center in Grand Junction.
n Storing amenities A new storage facility for recreational vehicles and boats offers what its owner sees as some attractive amenities.
n Economic effects
6
n Exec grows up
The war in Ukraine exerts enduring economic effects, including what could be slower growth and higher inflation.
with company and real estate. See page 2
n Trendy estimates
19
The jobless rate contines to retreat in Mesa County even as the labor force grows, labor estimates show.
Michelle Urlacher takes over as president of Bray & Co. Real Estate and a company her great-grandparents started in 1946. A total of nearly 120 agents and staff now work in five divisions.
n Labored changes Changes to federal and state labor laws in recent months affect employment agreements.
21
n Departments Almanac Business Briefs Business People Contributors News Opinion Trends
30-31 28 30 21-25 2-18 26-27 19-20
Business Times photo by Phil Castle
PRSRT STD U.S. POSTAGE PAID PERMIT NO. 67 The Business Times 609 North Ave., Suite 5 Grand Junction, CO 81501
THE BUSINESS T IMES News The Business Times
Page 2
aPril 21-May 11, 2022
A family affair
Cyber firm Trends exceeding Contributors growing aspirations Opinion Business Briefs M Business People Almanac Executive expects to rely on experience in her latest position at real estate firm
ichelle Urlacher grew up in the family real estate business. When she was in high school, she assisted agents with their transactions and helped clean the office. She subsequently worked as a property manager and, years later, chief operations officer. Urlacher believes her combined 23 years of experience in the business and industry will serve her well as she takes on her latest role as president of Bray & Co. Real Estate based in Grand Junction. She says she’ll also rely on the mentorships of working with her grandfather and father and the company culture they instilled of commitment to customers and community. Moreover, Urlacher says her definition of family extends to the 57 agents and 60 support staff who work for the company. “I’m excited to work with this team.” Urlacher succeeds Lynn Thompson as president. Thompson retired after working for Bray & Co. for 35 years. Robert Bray remains chief executive officer and works with his three children. In addition to Urlacher, Brian Bray works as managing broker of Bray Commercial and Kevin Bray serves as development director. Urlacher takes over as president of a company her great-grandparents, Sherman and Roxie Bray, started in 1946 in a remodeled porch in their downtown Grand Junction home. More than 75 years later, Bray & Co. operates not only residential and Michelle Urlacher takes over as president of Bray & Co. Real Estate commercial divisions, but also based in Grand Junction and a company her great-grandparents started construction management, development in 1946. A total of nearly 120 agents and staff now work in five divisions. and property management divisions. The company maintains three offices in Grand Junction and working as a janitor in cleaning the office. She later worked an office in Rifle in serving primarily Mesa County as well as as a property manager handling residential, multi-family and Delta, Garfield and Montrose counties in Western Colorado. commercial properties. As president, Urlacher says she’s responsible for the While living in Southern California, she worked there as financial performance of the company. But she’s also responsible, an appraiser, real estate analyst and agent. She also worked as she says, for removing obstacles that get in the way of agents and a property and project manager and an independent contractor staff in serving customers. That’s a function more of listening, developing and implementing marketing strategies for real than telling. “I’m not top-down approach driven at all.” estate agents. Over the course of her career, Urlacher has worked more She returned to Grand Junction and worked more than 12 years at Bray & Co. and nearly 11 years in various than six years as chief ethics and compliance officer for positions with other companies in Colorado and California. GeoStabilization International. The company offers a range Like her brothers, Urlacher says she started working in the of services to protect people and infrastructure from such family business at a young age. She says she remembers using hazards as unstable slopes, landslides and rockfalls. typewriters in helping agents coordinate transactions as well See FAMILY page 16
STORY AND PHOTO BY PHIL CASTLE
Acquisition adds to global operations for Cloudrise Phil Castle
The Business Times
Rob Eggebrecht expected the cybersecurity company he helped found to grow. Just not this quickly. Asked to describe that growth in a word, the co-founder and chief executive officer of Cloudrise, chose “meteoric.” “It’s been faster than any company I’ve been involved with in my startup Rob Eggebrecht life,” Eggebrecht said. “It’s just been a phenomenal journey so far with these people.” The acquisition of CyberOrchard, an information security firm located in the United Kingdom, Jason Bird further expands the global operation and adds to the expertise the company offers customers, Eggebrecht said. Cloudrise also obtained in the transaction a new chief technology officer in Jason Bird, founder and CEO of CyberOrchard. Based in Grand Junction, Cloudrise recently moved into a new location at the Las Colonias Business Park and has expanded the staff working there. Eggebrecht envisions a time in the not-too-distant future in which Cloudrise will employ 200 to 300 people in Grand Junction. Cloudrise offers a range of services to companies large and small, Eggebrecht said, in assessing their capabilities to protect their most important data and providing automated processes and other resources to do so. “For us, it’s all about the data.” Cloudrise works with health care and insurance companies as well as firms in the technical, communications and financial services sectors. Customers are located in 22 countries, he said. The company has an advantage, he said, in its speed and agility. See GROWING page 18
April 21-MAy 11, 2022
The Business Times
pAge 3
THE he B BUSINESS usiness T T Times IMES
PPAGE age 4 4
aPril 21-M15-28, ay 11, 2015 2022 JANUARY
THE BUSINESS TIMES Administrator brings New director selected
WE OFFER COMPLIMENTARY
HOME & OFFICE DELIVERY/PICK UP! Delivery Hotline: 970-314-8356
599 Patterson (25 Road & Patterson)
The Business Times The Business Times 609 North Ave., Suite 2, 609 North Ave.,CO Suite 5 Grand Junction, 81501 Grand Junction, CO 81501 Telephone: (970) 424-5133 (970) 424-5133 FAX: (970) 424-5134 www.thebusinesstimes.com www.thebusinesstimes.com
TheThe Business Times is published twice Business Times is published twice monthly and distributed throughout Grand monthly and distributed throughout Junction, and Palisade. Advertising GrandFruita Junction, Fruita and Palisade. rates Advertising and deadlines areand available upon are rates deadlines request. Opinions expressed in this available upon request. Opinions expressed publication are those of the writers and do in this publication are those of the writers not necessarily reflect the views of the and don’teditor, necessarily the views of publisher, staff orreflect advertisers. the publisher, advertisers. Copyright © 2015 editor — Allor rights reserved. Copyright © 2022 — All rights reserved
Let’s create something
...for your home, business, or toys!
S O L A R
P O W E R E D
1707 I-70 Business Loop Grand Junction
970-243-6310
allmetalswelding.com
Life is Precious
Serving families of the Western Slope for more than 100 years.
well-rounded perspective to oversee programs to new Mesa County role at small business center
A man who’s worked as both a business as well as New England and Canada. Phil Castle FOR YOUR INFORMATION coach and owner of a global The Business Times consulting Whidden said people who work in firm has been hired as the director of the information technology aren’t just “geeks,” Grand Junction Small Small Business Development in butThe Frank Whidden brings Center what he offer an important perspective Business Development Centerbecause is Grand Junction. considers a well-rounded perspective to his they’re familiar with nearly every aspect of located at the Business Incubator Engell is operations new job as Mesa CountyJeff administrator. and how workWay. gets For done. They Center, 2591 Legacy scheduled to start alsomore Whidden worked tend infomation to think about newprograms and potentially about working at the center better in information andways services, call 243-5242 or visitand of doing things in asking on May 2. He succeeds answering https://grandjunctionsbdc.org. technology and holds “what if ” questions. “They know Morey, who how to effect change in an organization.” a master’s degree Julie in served as director computer information Whidden expects to bring that same nearly 30 years. owner andtooperator of as a global consulting systems. But he also approach his duties administrator. workingsaid withit’s governments and holds a doctoral “Small business is firm,Whidden his role to help what makes Colorado businesses on economic development. He degree in applied county commissioners make and then a great place to live. also brings to his latest The position experience management implement decisions. commissioners Jeff Engell and Helping to make those in banking real estate. decision making and in investment turn represent theand residents of the Frank Whidden businesses He and holds a masters ofheeconomics worked foreconomically more than viable is my most county express their will, said. “We important Engell said. Lund University in Sweden 20 years mission,” as a minister. Whidden has degree work forfrom the people.” He for saidlarge he hopes to better connect and bachelor’s of he business administration worked and small organizations Whidden said also considers himself SBDC thepublic regionsectors. as well as degree from Colorado Universityand in in both programs the privatetoand a liaison between the State commissioners increase awareness of what’s offered at the Fort Collins. Whidden expects to draw on all of his county staff, and one of the priorities is to center. said hefeel enjoys helping experiences in helping Mesa County makeEngell sure employees valued. Whidden In Colorado, network of decisions. 14 full- entrepreneurs, especially first-generation commissioners makea and carry out said he hopes not only to improve morale, timeValuing SBDCs staff and more than 50the part-time underserved business and making county or but also take steps community that will make Mesa satellite officesof are located across the the owners pursuing the American an employer choice is among County an organization for which dream. people state. The centers offer a range of services, uncertain of their needs, but priorities, Whidden said. So is planning “They’re want to work. including freeinandsustainable low-cost counseling need helpWhidden with financing. that results funding and and usually Meanwhile, expectsThey the instructionbudgets on all on aspects of starting don’t have all theand answers, and balanced a long-term basis.and know countythey to continue policies initiatives growing businesses.Mesa County will often need help discovering Meanwhile, that support local business the andquestions.” economic In Grand Junction, the SBDC is Engell also said he’s eager to move to continue to pursue efforts that promote a development. There are additional steps located on the same campus as the Business Colorado and enjoy hiking, biking friendly business environment and Western that can be taken to make it easier for local Incubator Center. and fishing.to“Isell look forward exploring economic development, Whidden said. businesses products andtoservices to the Western Slope has to offer and Engell willofficially come to the Grand Junction Whidden began working as what the county, he added. congestion and population of SBDC administrator from the Eastat Colorado SBDC county the beginning of escaping Mesathe County will keep working with in Greeley, where he worked as a small the Front Range. Out here, I can still find the year. He succeeds Tom Fisher, who was other government entities, organizations and untouched areas in an theenvironment mountains, business and managed of wild hired ascoach county manager aninaverage Summit and institutions on fostering canyons and deserts.” 60 clients. County, Utah. that supports existing businesses and F he said. He also served more than 10 years as Whidden joined Mesa County in attracts new businesses, August 2011 as information technology Whidden said there could be a director. In April 2014, he became deputy opportunities to encourage the additional county administrator for resource development of businesses that provide management in a staffing reorganization services to the agricultural industry as well that eliminated four director positions. as promote Mesa County as a distribution Before joining Mesa County, center for the region. The Business Center in GrandThe Junction will create andtoexpand Whidden worked for aIncubator company providing important thing is consider programs to help women and minority business owners as part of a from information technology services to issues from a well-roundedgrant perspective, Wells Fargo. colleges and universities. In that role, he Whidden said. “We won’t be myopic as we $25,000forgrantlook willat help fund coaching and classes managed IT systems andThe services things.” offered through the Small Business Development Center institutions in Alabama, Arizona, Illinois ✦ as well as the business incubator and commercial kitchen programs and assistance with loan applications. Helen Roe, interim executive director of the Business Incubator Center, said the funding will help in reaching out to women and minority business owners and getting them the information and assistance they need to start and grow their ventures. “BIC is so appreciative of Wells Fargo not only for this Helen Roe extremely generous grant, but for their ongoing financial support in the past,” Roe said. “They are a key funder for many local nonprofits, and we’re happy to be one of the beneficiaries. We expect it to make a real difference to these individuals who want to start or expand a business and do it in a way that is sustainable and profitable.” Over the past year alone, the Business Incubator Center has assisted 26 companies start and played a role in the creation and retention of a total of about 244 jobs. The center also provided 39 loans and 143 grants for a total of $1.2 million in funding for recovery from the effects of the COVID-19 pandemic. F
$25,000 Wells Fargo grant to fund Business Incubator Center efforts
April 21-MAy 11, 2022
The Business Times
Clark Jensen demonstrates the use of a keypad that enables customers to access Red Rock RV and Marine Storage in Grand Junction around the clock. The new facility is fully automated. (Business Times photo by Phil Castle)
Space for RVs and boats: Owner of storage facility points out the amenities Phil Castle
The Business Times
Clark Jensen leads an impromptu tour of Red Rock RV and Marine Storage, pointing out what he sees as the amenities of the new facility in Grand Junction. There’s the secure fencing, around-theclock surveillance and recreational vehicle dump station, Jensen said. Moreover, the facility is automated, offering 24-hour access and online leasing and Tom Fee account management. That’s not to mention close and easy access to Interstate Highway 70, he said. “It’s one of the best locations in the valley, I think.” Jensen and Tom Fee recently opened Red Rock RV and Marine Storage, culminating about three years of development on the project. After a soft opening, a grand opening celebration is planned for early to mid-May, Jensen said. Jensen also operates the North Fork Sales auto dealership in Grand Junction. Fee works as a broker associate with the RE/MAX 4000 real estate agency in Grand Junction. Jensen said the two envision increased demand for recreational and boat storage given the growing sales of RVs and boats and growing population of the Grand Valley. “I think there’s definitely a need.”
FOR YOUR INFORMATION Red Rock RV & Marine Storage is located at 849 21 1/2 Road in Grand Junction. For more information, call 644-1595 or visit redrockrvmarinestorage.com.
Red Rock RV and Marine Storage offers 280 spaces on 6 acres covered with a crushed asphalt surface. Fencing, cameras and a locked gate with a keypad provide security, he said. A dump station provides convenience for those bringing their RVs back to storage after outings, he said. “It’ll be a selling point.” Given the amenities, Jensen said the 40-foot by 13-foot spaces are competitively priced at $70 a month for 12-month leases and $80 a month for month-to-month leases. Leasing and account management is available online through a simple process, although help is only a phone call away if questions or problems arise, he said. Jensen expects to soon offer covered sites for customers who prefer to keep their RVs and boats protected from sun and moisture. There’s also room on the property to construct a personal storage facility at some point in the future, he said. For now, though, Jensen said he’s pleased to open — and pleased with the reaction so far. “It’s pretty exciting to see it finally happening.” F
pAge 5
The Business Times
Page 6
aPril 21-May 11, 2022
Think tank: War in Ukraine exerts economic effects Phil Castle
The Business Times
The escalating war in Ukraine exerts enduring economic effects across the world, including what could be slower growth and higher inflation in the United States. “This is global, and it’s going to affect many, many economies,” said Dana Peterson, chief economist of the Conference Board. The New York-based think tank hosted a media briefing to detail the economic effects of the war. Lori Esposito Murray, president of the Committee for Economic Development at the Conference Board, said the war in Ukraine has escalated not only in terms of armed combat, but also as an economic conflict and humanitarian crisis. Even if hostilities cease, economic sanctions and other ramifications probably won’t, Murray said. “The impact of this war is going to be long-lasting.” Russia, a country with the 11th largest economy in the world, probably will become a pariah. And that could change global trade and other relations, she said. The question, too, is how China and India will proceed and whether they will respect sanctions or pursue continued relations with Russia, she said. Peterson said the war has induced a shock on the global economy that affects most countries. What was forecast as strong economic growth in 2022 in the aftermath of the COVID-19 pandemic has
Dana Peterson
L. Esposito Murray Illaria Maselli
been revised downward, she said. Year-over-year change in worldwide gross domestic product is estimated to drop a half of a percentage point to a full percentage point in 2022. In the United States, a year-over-year decline of three-tenths of a percent to eight-tenths of a percent is estimated, she said. Bigger declines are forecast for France, Germany, Italy and other European countries. Meanwhile, inflationary pressures are expected to mount around the globe, Peterson said. The estimated range of year-over-year change in Consumer Price Index inflation ranges from eight-tenths of a percent to 3 percent worldwide, she said. In the U.S., the range runs from eight-tenths of a percent to 2.5 percent. While personal consumer expenditure inflation was expected to peak in the U.S. during the second quarter of this year at above 6 percent on a year-over-year basis, both
the war in Ukraine and COVID-19 pandemic pose risks, Peterson said. The long-term outlook is for higher inflation, she said. “We’re going to get elevated inflation for some time.” She blamed part of the situation on a spiral in which employers pay higher wages, but then charge more for goods and services. The Federal Reserve is expected to tighten monetary policy in response, raising its key short-term interest to 2 percent this year and 3 percent next year. While trying to curb inflation, the Federal Reserve also will try not to drive the U.S. economy into recession, Peterson said. Still, the Fed doesn’t exert control over some of the factors causing inflation, she said. Illaria Maseli, a senior economist on Europe at the Conference Board, said the war in Ukraine hasn’t yet severely damaged the European economy because the economy was so strong before the onset of the conflict. However, European manufacturing has shown signs of losing momentum with lower expectations for production and longer delivery times, Maseli said. While wage growth is expected to continue in most European countries, the war has accelerated inflation and in turn lowered purchasing power, she said. Murray said the so-called peace dividend that followed the end of the Cold War has ended, and defense spending will increase out of fear of further Russian aggression. “The peace dividend is definitely over.” F
News, views and advice you can use
Subscribe today to the journal that means business in the Grand Valley. (970) 424-5133
www.thebusinesstimes.com
Expo to showcase the latest trends for homes and gardens The Housing and Building Association of Western Colorado and Freedom Star Home Improvements plan a home and garden expo in Grand Junction. The 2022 Western Colorado Home & Garden Expo is scheduled for 9 a.m. to 5 p.m. April 30 and 9 a.m. to 4 p.m. May 1 at the Mesa County Fairgrounds, located at 2785 U.S. Highway 50. Tickets sell for $5 for adults and $3 for seniors. Children under 12 will get in free. “We will have something for everyone at this year’s expo,” said Megan Ward, executive director of HBA of Western Colorado. “It’s a great opportunity for people to peruse unique ideas and concepts for inside the home as well as outdoor living spaces.” The expo will include exhibits featuring the latest trends for homes and gardens as well as interactive demonstrations and food trucks. The expo also will offer information and advice on energy efficient heating and cooling, gardening, landscaping, lighting, sheds, stone products, window treatments and more. “It’s truly a one-stop shop for ideas,” Ward said. “We will have most of Western Colorado’s home improvement experts all in the same place at the same time so people can compare products, designs and solutions.” For more information about the 2022 Western Colorado Home & Garden Expo, visit https://wchomeandgardenexpo.com or follow the HBA of Western Colorado Facebook page. F
April 21-MAy 11, 2022
The Business Times
pAge 7
Page 8
The Business Times
New standards boost eligibility for SBA programs
Nearly 60,000 small businesses are expected to gain eligibility for federal contracting and loan programs under new size standards announced by the U.S. Small Business Administration. The federal agency issued four rules modifying a total of 229 revenue-based small size standards across 16 sectors. The changes are expected to make 59,000 additional firms eligible for SBA programs. The changes also will create contracting opportunities with an estimated value of $1 billion for 844 newly qualified businesses and extend a total of 96 loans worth a total of nearly $45 million to newly qualified firms. “SBA continues to evolve its approach on size standards to ensure that we create access to contracting and loan
opportunities for as many small businesses as possible,” said Bibi Hidalgo, associate SBA administrator for government contracting and business development. “This expansion is equally important for contracting agencies, as a diverse industrial base helps ensure a healthy supply chain and, in turn, supports our nation’s broader economic health,” Hidalgo added. The size standards revisions adopted in the final rules reflect considerations of the relevant information, public comments and the effects of the COVID-19 pandemic on small businesses and the overall economy. For more information about SBA programs and services, visit www.sba.gov. F
aPril 21-May 11, 2022
Executive appointed to oversee SBA region
A woman who served as director of a small business center in Colorado Springs has been appointed administrator of a six-state region of the U.S. Small Business Administration. President Joe Biden named Aikta Marcoulier administrator of SBA Region 8. She will oversee the programs and services of the federal agency in Colorado as well as Montana, North Dakota, South Dakota, Aikta Marcoulier Utah and Wyoming. SBA Administrator Isabella Casillas Guzman praised the appointment. “Aikta Marcoulier’s exemplary public service and experience in community development through entrepreneurship exemplifies the commitment and know-how needed to carry out our mission to serve America’s small businesses.” “At a time when a record number of entrepreneurs are applying for new businesses, Aikta will be a valuable addition to our dynamic team of regional administrators as the SBA continues to solve for challenges experienced by our small businesses as they pivot, start, grow and seize new opportunities presented by a growing economy,” Guzman added. Marcoulier served nearly 10 years as executive director of the Small Business Development Center in Colorado Springs. In Colorado, a network of 14 full-time SBDCs and more than 50 part-time satellite offices are located across the state. The centers offer a range of services, including free and low-cost counseling and instruction on starting and growing businesses. Marcoulier also created and managed the Colorado SBDC Cyber: Cover Your Assets program, providing training and one-on-one consulting to small businesses throughout the state. She previously served as director of partnership marketing with the Professional Bull Riders and project manager with the Native American Sports Council, an organization of the U.S. Olympic Committee. Marcoulier has been involved in a number of groups and serves on the boards of the Better Business Bureau of Southern Colorado, Colorado Business Development Foundation, Pikes Peak Community College business advisory board and Pikes Peak Workforce Development Board. She holds a master’s of business administration degree from the University of Phoenix and undergraduate degrees in economics and psychology from the University of Iowa. F
April 21-MAy 11, 2022
The Business Times
pAge 9
Page 10
The Business Times
aPril 21-May 11, 2022
Grand Junction among best cities to start a business Grand Junction ranks among the best small cities in which to start a business in an analysis comparing more than 1,300 locations. Grand Junction ranked 33rd in the 2022 analysis conducted by WalletHub. The personal finance website offers credit scores, reviews and other services. WalletHub compared 1,334 cities with populations between 25,000 and 100,000 residents. The analysis took into account three dimensions: access to resources, business costs and business environment. Each dimension in turn was evaluated using a total 18 metrics that included everything from business startups per capita, access to investors and work force education to labor costs, cost of living and corporate taxes. Each metric was graded on a 100-point scale. Overall scores — and rankings — were based on each city’s weighted average across all metrics.
FOR YOUR INFORMATION
For more information about the report, visit https://wallethub.com/edu/best-small-citiesto-start-a-business/20180. Grand Junction received an overall score of 55.7 out of a possible 100. Grand Junction ranked 63rd for access to resources, 184th for business costs and 195th for business environment. Grand Junction ranked 79th for startups per capita, 408th for labor costs, 427th for industry variety, 632nd for work force education and 765th for office space affordability. Among small cities in Colorado, Grand Junction
finished behind only Englewood at 26th. Longmont ranked 40th, followed by Windsor in 58th, Loveland at 65th, Lafayette at 74th, Fountain at 82nd, Littleton at 132nd, Broomfield at 136th, Northglenn at 146th, Brighton at 148th, Commerce City at 179th, Wheat Ridge at 180th, Parker at 219th, Castle Rock at 228th, Columbine at 384th and Pueblo West at 463rd. Small cities in Utah fared well in the analysis, taking five of the top 10 spots overall. Washington ranked first, St. George second, Cedar City fourth, Logan eighth and Eagle Mountain ninth. Small cities in Florida took three of the top 10 spots with Fort Myers fifth, South Bradenton sixth and Winter Park 10th. Bozeman, Mont., placed third and Williston, N.D., seventh. F
SBA adds two more educational modules to digital platform
A federal agency has added two more modules to a digital educational platform that offers small business owners access to information and addresses the needs of women entrepreneurs. The U.S. Small Business Administration launched the Partnerships Journey and Entrepreneurial Leadership Journey modules to the Ascent platform. The Partnerships Journey module explores the value of business partnerships, why they matter and how they drive business growth. Components cover business partnerships, opportunities and strategic growth. The Entrepreneurial Leadership Journey module helps position small businesses for growth by building and refining leadership skills and features 11 components designed to build confidence and improve decision management and leadership style techniques. “We continue advancing our entrepreneurial education experience through technology forward and timely online learning systems such as Ascent,” said Mark Madrid, associate SBA administrator of the Office for Entrepreneurial Development. “We look forward to announcing more educational initiatives to position our diverse small business ecosystems to thrive.” The SBA launched the Ascent platform in 2021and since has assisted nearly 50,000 businesses with writing business plans, accessing capital and landing contracts. Assistance also is available to businesses recovering from the effects of the COVID-19 pandemic. Help has been extended as well to women-owned businesses. “We know that women entrepreneurs start and own nearly half of all businesses in the United States and generate $1.8 trillion in revenue. They need a selfpaced digital tool like Ascent to help them scale up and thrive,” said Natalie Madeira Cofield, assistant SBA administrator of the Office for Women’s Business Ownership. For more information on Ascent, visit Ascent.SBA.gov and register for free access. For more information about the SBA, visit SBA.gov. F
April 21-MAy 11, 2022
The Business Times
pAge 11
Page 12
The Business Times
aPril 21-May 11, 2022
River Fest: Benefit event planned to make a splash An upcoming event will offer a variety of activities while also raising money for waterway safey and restoration. The Grand Valley River Fest is scheduled for 10 a.m. to 5 p.m. May 14 at Las Colonias Park near the Riverside Parkway and Ninth Street in Grand Junction. Grand Junction Adventures and River Rescue Dynamics will host the event. Proceeds will benefit the Save-A-Life Jacket Program and RiversEdge West. Gear demonstrations, workshops and other activities for adults and children are planned. A gear swap also is scheduled with 15 percent of each item sold donated to the Save-A-Life Jacket Program, which lends free life jackets to visitors along the Colorado River. Proceeds from a beer tent featuring beer from Monumental Beer Works and Ramblebine Brewing Co. also will go to the program.
FOR YOUR INFORMATION
For more information about Grand Valley River Fest, including tickets for the rubber ducky race, visit https://grandvalleyriverfest.com. RiversEdge West will host a rubber ducky race set for 11:30 a.m. A total of 400 numbered rubber ducks will be released to float down the Colorado River. The participant who purchases the winning duck will receive a Hala Rival Hoss inflatable stand-up paddleboard worth $1,199. Participants need not be present to win. Ducks sell for $20 each, six for $100 and 12 for $200. Tickets for the race will be sold online until noon May 13
and in person until 11 a.m. the day of the race. RiversEdge works to restore river side landscapes as well as address problems associated with such invasive plants as tamarisk and Russian olive. A free slackline exhibition set for 1 to 2:30 p.m. will feature three events. Cash and gear will be awarded to winning participants. A throw bag tournament set for 2 to 4 p.m. will test participants’ accuracy, focus and strength while also raising awareness of water safety. A $10 entry fee will be charged. The top three competitors will receive prizes. A free paddle contest set for 3 to 5 p.m. will include a fitness race, freestyle tricks event and jousting between two paddle boarders. Prizes will be awarded to the top three finishers in each competition. F
Grant funds tree planting at state park
A grant will support efforts to plant trees around the campground of the Island Acres section of the James M. RobbColorado River State Park in De Beque Canyon near Palisade. The Colorado Tree Coalition and Xcel Energy Vegetation Management Program awarded a $2,250 grant to Colorado Parks and Wildlife for the project. The funding was used to purchase hawthorn, honey locust and box elder trees. They’re scheduled for planting around the campground on Earth Day on April 22 with the help of volunteers. A nonprofit organization, the Colorado Tree Coalition works to preserve, enhance and renew forests statewide. The group awarded a total of $42,620 in grants to 17 organizations in 2021 to plant and manage trees in community forests. Since 1991, the coalition has awarded a total of more than $1 million in grants to 219 communities and organizations. These grants have been matched with more than $8 million in funding and in-kind services. Grants are made possible through members and supporters as well as Colorado Public Radio, the Colorado State Forest Service, Xcel Energy Foundation and Xcel Energy Vegetation Management Program. F
News, views and advice you can use
Subscribe today to the journal that means business in the Grand Valley. (970) 424-5133
www.thebusinesstimes.com
April 21-MAy 11, 2022
The Business Times
pAge 13
Page 14
The Business Times
aPril 21-May 11, 2022
Tasteful event to showcase the new kids on wine block
An annual event showcasing wine, spirits and food will offer a taste of new and old while raising money to provide health care in Mesa County. Edesia is scheduled for 11 a.m. to 4 p.m. April 24 at the Wine Country Inn in Palisade. Named for the Roman goddess of food, Edesia will feature wines from new and established operations paired with food. Sponsored by FCI Constructors and Alpine Bank, Edesia raises funds for MarillacHealth, which provides a range of health care services to uninsured and underinsured Mesa County residents. “Our theme New Kids on the Wine Block reflects many changes in our industry and our neighborhood,” said Ian Kelley, general manager of the Wine Country Inn. Kelley said several wineries have opened in the Grand Valley in recent years, among them Carboy, Ordinary Fellow, Sauvage Spectrum and Vines 79. There also have been changes in ownership at Grande River Vineyards, Maison La Belle Vie, Mesa Park and Whitewater Hill. Meanwhile, such established wineries as Colterris, DeBeque Canyon, Plum Creek, Red Fox, Talbott and Talon continue to introduce new wines, Kelley said. “This is an exciting time to be in the Grand Valley. Our wines just get better and better, and so does the food, ” he said. “The same terroir that produces great wines enriches our local crops and creates an unparalleled field-to-fork cuisine here.” In addition to wines, Edesia will offer tastes of beer, spirits and ciders as well as samples from food vendors. Local artists will perform live music. What were other components of Edesia have been expanded into separate events scheduled for later in the year. A New Kids Wine Dinner pairing wines with a special menu is set for July 16 at the Wine Country Inn. “By making this a standalone dinner, we can slow down and take our time, exploring the nuances of the wines and how the flavor profiles of the food enhance the whole tasting experience,” said Chad Griffith, executive chef at the Wine Country Inn. Grande River Vineyards and Talon Wine Brands will host a Live in the Grapevines concert set for Aug. 20. F
FOR YOUR INFORMATION Edesia: A Palisade Culinary, Wine & Spirits Adventure is set for 11 a.m. to 4 p.m. April 24 at the Wine Country Inn, located at 777 Grande River Drive in Palisade. Tickets sell for $65 in advance and $75 at the door. For tickets or more information, visit https://edesiapalisade.com.
April 21-MAy 11, 2022
The Business Times
pAge 15
Page 16
The Business Times
Statewide event planned to celebrate resilience
What’s planned a statewide weekend celebration will include activities in the Grand Valley. What’s billed as Celebrate Colorado is set for May 6 to 8. The celebration will include free admission to participating museums as well as a range of events across the state. Participating partners include Colorado Mesa University in Grand Jared Polis Junction. The featured events will include the Fruita Fat Tire Festival. Colorado Gov. Jared Polis said the event will offer an opportunity to celebrate the compassion, resilience and strength
FOR YOUR INFORMATION
For more information about Celebrate Colorado, visit https://celebrate.colorado.gov. residents have demonstrated over the past two years in facing challenges related to the COVID-10 pandemic. “I am proud to invite Colorado communities, families, friends and neighbors to help showcase the best our great state has to offer over three days of free and discounted events in the great outdoors, supporting Colorado businesses and at our world-class arts and culture destinations.” F
aPril 21-May 11, 2022
Family
Continued from page 2 In 2019, GeoStabilization International was among the operations recognized by the Ethisphere Institute as the World’s Most Ethical Companies. The Ethisphere Institute, an organization promoting ethical business practices, based its selections on such criteria as ethics and compliance programs, a culture of ethics, corporate citizenship and responsibility, governance, leadership and reputation. Urlacher returned to Bray & Co. in November 2019 as chief operations officer and served in that role until she became president in February 2022. Urlacher says she came back in good part to work with family — her father and brothers, but also the agents and staff. “Everybody here is part of the family.” She says she also enjoys the culture at Bray & Co. — a culture established and maintained by her grandfather and father. That includes a commitment to relationships and taking care of clients and staff as well as doing the right things regardless of the cost. That’s served the company well in enduring the downs that come with the ups in real estate cycles, she says. “If you really care, you’ll be fine.” Urlacher says some aspects of the real estate industry have changed over the course of her career, including the ways in which properties are marketed and transactions occur. The COVID-19 pandemic forced innovations and changed the ways those working in the industry think about doing their jobs. But there’s still a value to working with real estate professionals and the advice and expertise they offer, she says. Urlacher says Bray & Co. provides comprehensive services in operating not only residential and commercial divisions, but also offering services related to property management and development. The company also has entered into a joint venture to offer title services and has expanded property management to include vacation homes in Western Colorado, she says. But it’s not just a matter of quantity, but also quality, she says. “We’re gonna be Bray, but we’re going to do even better than before.” F
News, views and advice you can use
Subscribe today to the journal that means business in the Grand Valley. (970) 424-5133
www.thebusinesstimes.com
The Business Times
pAge 17
THE BUS MARC
H 10-23,
THE DE
In this
n Book
FINITIVE
issue
ing it
SOUR
n Awar d winn
2
ers
A Grand three indi Valley busines from the viduals won s and awa Chamb Grand Junctio rds er of Com n Area merce.
5
2022
INES News S TIMES HigThr-efly ndin Contrib s g venture utors
CE FO
A Grand has liter Junction resi on help ally written thedent ing girls book women becom and young e entrep reneurs.
R GRAN
VOLUME
D JUNC
n With
West Sta
TION BU
incent
SINES
Aviation r mainta repairs, ins and variety refurbis of located aircraft at facihes a Regiona at the Grand Jun lities l Airport. ction
S NEWS
SINCE
ives, W est Star
e, prom
THEBUS
29, ISS
UE 5
INESS
expand
Opinio n 6 Business Busine ss Peop Briefs le 8
n Prais
1994
ing. Se
TIMES
e page
.COM
2
ises
Colora do offered Gov. Jared Polis promis praise as wel l es state add in a state of as the ress in Grand Junctio n.
n FARM
coming
Remode building ling is under way into the that will be con in a Marketp Fruita Arts Rec verted reation lace.
n Dive
rging tre
Two tren ds dive Mesa Cou rge in the market: nty real esta but incr decreasing salete easing s,
nds
19
n Legis dollar volume. lative up Along with date what’s Col
21
orado in plac introduc legislators hav e, that cou ed more mea e sure ld affect employms ent law .
n Depa
rtments
Almana Busine c 30-31 ss Busine Briefs 28-29 ss Contrib People 30-31 News utors 21-25 Opinio n 2-18 Trends 26-27 19-20 PRS U.S. POS RT STD TAG PERMIT E PAID The Bus NO. 67 609 Nor iness Times Grand Jun th Ave., Suite 5 ction, CO 81501
April 21-MAy 11, 2022
Busines s Times
photo by Phil
Castle
Almana c
Page 18
The Business Times
New gallery opens at the Art Center A newly constructed gallery has opened at the Art Center in Grand Junction. The 1,700-square-foot gallery was named in honor of Grand Valley artist Jac Kephart. The project at the center also allowed for the installation of a modern fire mitigation system to protect the building and collections, upgrades to the permanent collection preservation and Gould Gallery. In addition, space was added for education programs offered to the community. Kay Ambrose, a member of the Art Center campaign project team and a former member of the board trustees, said she was humbled by what she described as an outpouring of support for the project. “We are overwhelmingly grateful for our community’s support of the Kephart Gallery,” Ambrose said. “This project has enhanced the Art Center so that everyone may enjoy the experience of art.” Tony and Sally Prinster said Kephart’s legacy will live on through the gallery named in his honor as well as the other spaces. “It has been a gift to know Jac Kephart and to see the wide range of creations he put to canvas. ... Jac was a special
FOR YOUR INFORMATION
The Art Center continues a $600,000 capital campaign for the Jac Kephart Gallery and other improvements. For additional information or to make a donation, visit the website located at https://gjartcenter.org/kephartproject. Checks should be made out to the Art Center, with Kephart project in the memo. All donations are tax deductible. creative genius from the Grand Valley’s art community.” The expansion was the latest for the Arts Center, which has grown over 68 years from a two-story house to a 13,000-squarefoot arts campus. Ruth Leever, a local artist. said the center has grown over the years as well as adapted to meet the changing needs of the community. “Because of TAC, we all can experience the fullness that the arts bring to our lives together.” F
aPril 21-May 11, 2022
Growing
Continued from page 2 Eggebrecht and his co-founders launched Cloudrise in Denver in October 2019. They brought to the venture decades of experience with data protection in working for other companies as well as operating their own firm. They relocated Cloudrise in 2021 to Grand Junction and what Eggebrecht said he considers a more authentic part of Colorado offering scenic vistas and outdoor recreation. Eggebrecht said he also was impressed by Colorado Mesa University and the skills of the students there. Eggebrecht subsequently became chairman of an industry advisory council for the computer science and cybersecurity programs at CMU. He helps prepares students to work in the industry and also recruits students for internships and employment. Cloudrise operated for a while in the Maverick Innovation Center on the CMU campus, but recently moved to the Las Colonias Business Park and a building there that also houses the Bonsai Design adventure course and zipline company. Cloudrise announced on April 6 the company aquired CyberOrchard. The transaction adds what Eggebrecht said is some of the greatest technical talent in the world in data protection. With its location in a suburb of London, the addition of the firm also helps in accommodating a global operation, he said. As the new chief technology officer of Cloudrise, Bird brings to his new position more than 25 yeasrs of experience in cybersecurity as well as data governance and managed services. “Data protection is becoming more complex every day, and at Cloudrise we believe collaboration is the path to better protection for our clients,” Bird stated in a news release. In addition to the acquisition, Cloudrise announced Netskope named Cloudrise as its Global Services Partner of the Year. A U.S. software company, Netskope provides a computer security platform. CRN named Cloudrise to its list of the top managed service providers for 2022. In 2021, Cloudrise was among the winners of the Colorado Companies to Watch Program. Eggebrecht said the recognitions confirm the ability of Cloudrise to compete against much larger companies. “We punch way above our weight.” With the acquisition, the staff at Cloudrise has grown to 50 with a small group of executives and service delivery staff working out of Grand Junction. But Eggebrecht said he expects the staff in Grand Junction to grow along with the company — perhaps to 200 to 300. And that in turn will promote still more growth not only in terms of economic development for the Grand Valley, but also in personal development for individuals and their families, he said. F
News Trends Contributors Labor trends encouraging Opinion Business Briefs Business People Almanac The Business Times
April 21-MAy 11, 2022
pAge 19
INDICATORS AT A GLANCE
n Business filings
t New business filings in Colorado, 13,027 in February, down 3.1% from February 2021.
n Confidence
s Consumer Confidence Index 107.2 for March, up 1.5. t Leeds Business Confidence Index for Colorado, 53.9 for the second quarter, down 4.1 t National Federation of Independent Business Small Business Optimism Index 93.2 for March, down 2.4.
n Foreclosures s Foreclosure filings in Mesa County, 54 in March, up from 0 in March 2021. s Foreclosure sales in Mesa County, 5 in March, up from 2 in March 2021.
n Indexes
s Conference Board Employment Trends Index, 120.56 for March, up 1.66. s Conference Board Leading Economic Index 119.9 for February, up 0.3%. t Institute for Supply Management Purchasing Managers Index for manufacturing, 57.1% for March, down 1.5%.
n Lodging
s Lodging tax collections in Grand Junction, $226,835 for March, up 58.7% from March 2021.
n Real estate
t Real estate transactions in Mesa County, 495 in March, down 11.3% from March 2021. s Dollar volume of real estate transactions in Mesa County, $203 million in March, up 2% from March 2021.
n Sales
s Sales and use tax collections in Grand Junction, $5 million for March, up 13% from March 2021. s Sales and use tax collections in Mesa County, $3.7 million for March, up 18% from March 2021.
n Unemployment t Mesa County — 3.9% for March, down 0.6. t Colorado — 3.7% for March, down 0.3. t United States — 3.6% for March, down 0.2.
Mesa County unemployment rate drops even as labor force grows Phil Castle
13 percent from the 871 orders posted during March 2021 and what Englehart said was a record pace last year. March Feb. The unemployment rate continues to For the first quarter of 2022, 2,570 t Delta County 3.9 4.5 drop in Mesa County even as the labor force orders were posted. That’s a 12 percent t Garfield County 3.1 3.7 grows, two trends that bode well for the increase over the 2,292 orders posted for t Mesa County 3.9 4.5 continued recovery of the market. the first quarter of 2021. t Montrose County 3.7 4.2 “It really sets us The health care sector continues to t Rio Blanco County 4.3 4.9 up to have a really account for the most job orders, but labor strong 2022,” said remains strong in the retail, hospitality and Curtis Engelhart, director of the Mesa County other sectors, Englehart said. Workforce Center in Grand Junction. An event connecting employers and applicants is scheduled The seasonally unadjusted jobless rate for 1 to 5 p.m. April 27 with the Grand Valley Career and Job Fair dropped six-tenths of a point between February at Lincoln Park in Grand Junction. The workforce center will join and March to 3.9 percent as the labor force moved with Colorado Mesa University in hosting the event, he said. further past the 79,000 milestone, according Looking ahead, Englehart said he expects the unemployment to the latest estimates from the Colorado rate to continue to trend downward. The labor force could top Curtis Englehart Department of Labor and Employment. 80,000. “We’re on a trajectory to do that.” At this time last year, the unemployment rate was 6.8 percent Seasonally unadjusted jobless rates dropped six-tenths of a and the labor force stood at 77,176. point in three neighboring Western Colorado counties between Engelhart said the latest numbers are more indicative of those February and March — to 3.9 percent in Delta County, 3.1 percent before the onset of the COVID-19 pandemic early in 2020 and in Garfield County and 4.3 percent in Rio Blanco County. The reflect a return to pre-pandemic conditions. jobless rate fell a half point to 3.7 percent in Montrose County. For March, Mesa County payrolls increased 581 to 76,041. The statewide seasonally adjusted unemployment rate The number of people counted among those unsuccessfully retreated another three-tenths of a point to 3.7 percent. That’s the looking for work decreased 491 to 3,074. The labor force, which lowest level since the rate stood at 2.8 percent in February 2020 includes the employed and unemployed, edged up 90 to 79,115. and before the onset of the pandemic in the United States. Over the past year, payrolls increased 4,107 as the ranks of Nonfarm payrolls increased 5,800 between February and the unemployed decreased 2,168. The labor force grew 1,939. March. Over the past 23 months, Colorado has added 389,400 While a labor shortage persists, Englehart said more people are jobs — exceeding the 374,500 jobs lost in March and April 2020 filling job openings. Some residents who left the local work force as a result of the pandemic and related restrictions. during the pandemic have returned. People moving to the area also Over the past year, nonfarm payrolls grew 131,200 with are getting jobs, he said. “I think it’s a combination of both.” the biggest gains in the leisure and hospitality; professional and Labor demand as measured by the number of job orders business services; and trade, transportation and utilities sectors. posted at the Mesa County Workforce Center slipped in March Over the past year, the average workweek for employees on compared to the same month last year, but was up for the first private, nonfarm payrolls shortened a tenths of an hour to 32.9 quarter, Englehart said. hours. Average hourly earnings increased $2.53 to $33.85. A total of 760 job orders were posted in March, down nearly F The Business Times
AREA JOBLESS RATES
Smalll business index drops as concerns mount A measure of optimism among small business owners has declined along with expectations for improving conditions. “With inflation, an ongoing staffing shortage and supply chain disruptions, small business owners remain pessimistic about their future business conditions,” said Bill Dunkelberg, chief economist of the National Federation of Independent Business. The NFIB reported its Small Business Optimism Index fell 2.4 points to 93.2 in March — the third consecutive month below 98, the average reading for the 48-year history of the Bill Dunkelberg index. The small business advocacy group bases the index on the results of monthly surveys of members, most of them small business owners. Five of 10 components of the index retreated between February and March, while two advanced and three remained unchanged. The proportion of NFIB members who responded to the survey upon which the March index was based who expect the economy to improve over the next six months fell 14 points. At a net negative 49 percent, more respondents anticipated worsening conditions. That’s the lowest level ever recorded for the reading. The proportion of members who expect higher sales volumes dropped 12 points to a net negative 18 percent. A net 26 percent reported plans for capital outlays, down
a point. A net 6 percent said they consider now a good time to expand, down two points. A net 20 percent of members said they plan to increase staffing, up a point. But 47 percent reported unfilled job openings, down a point. Inflation and labor shortages both constitute problems for small businesses, Dunkelberg said. Asked to identify their most important business problem, 31 percent cited inflation. That’s the up five points from February to the highest reading since the first quarter of 1981. Another 22 percent cited quality of labor. A net 72 percent of members reported raising average sales prices — the highest reading ever recorded. A net 49 percent reported raising compensation, down a point from a record high in January. A net 28 percent said they plan to raise compensation in the next three months. The share of those reporting higher earnings remained unchanged. But at a net negative 17 percent, more members reported lower earnings. Among those reporting lower earnings, 35 percent blamed higher materials costs and 23 percent blamed weaker sales. A net 2 percent reported plans to increase inventories, unchanged from February. A net 9 percent said existing inventories were too low, up two points. Meanwhile, 40 percent said supply chain disruptions have had significant effects on their businesses. F
Page 20
The Business Times
aPril 21-May 11, 2022
Grand Valley sales tax collections trend upward
Sales tax collections, a key indicator of retail activity, continue to trend upward in the Grand Valley. The City of Grand Junction reported a 12.6 percent increase in sales tax collections in March compared to the same month last year. Mesa County reported a 15.9 percent gain on a year-over-year basis. Grand Junction lodging tax collections, a measure of hotel and motel stays, rose 58.7 percent. March tax reports reflect February sales. The city collected a total of nearly $5 million in sales and use taxes in March. That included almost $729,000 in sale taxes the county shares with the city. Use taxes, a smaller and more volatile revenue source for the city, rose 28.5 percent. For the first quarter of 2022, the city collected a total of almost $17.8 million in sales and use taxes. Compared to the first quarter of 2021, sales tax collections rose 17.3 percent and use tax collection jumped 60.8 percent. Mesa County collected a total of more than $3.7 million in sales and use taxes in March. Use taxes — most of them assessed on automobiles purchased outside the county, but used in the county — rose 42.3 percent. County tax collections on retail sales increased 7.8 percent in March compared to the same month last year with gains in six of seven categories. Tax collections on internet sales rose 11.3 percent to almost $220,000. Sales tax collections rose 10 percent on automobiles, 12.5 percent on home improvements and 19.7 percent on restaurant meals and hotel stays. Collections increased 25.2 percent in the construction category, 36.3 percent in the wholesale category and 37.4 percent in the oil and natural gas category. For the first quarter of 2022, the county collected a total of nearly $12 million in sales and use taxes. Compared to the first quarter of 2021, sales tax collections advanced 16.8 percent and use tax collections increased 21.9 percent. Tax collections on retail sales increased 10.1 percent to top $4 million in the first quarter of 2022. Tax collections on internet sales accounted for more than $1.6 million. Sales tax collections increased 10.5 percent on automobiles, 18.3 percent on home improvements and 20.5 percent on restaurant meals and hotel stays. The city collected nearly $227,000 in lodging taxes in March, a 58.7 percent gain over the same month last year. For the first quarter of 2022, the city collected almost $681,000 in lodging taxes. That was a 65.5 percent increase over the first quarter of 2021. F
Trends Contributors Opinion Labor laws change Business Briefs Business People Almanac
April 21-MAy 11, 2022
The Business Times
pAge 21
COMING ATTRACTIONS
n The Business Incubator Center in Grand Junction has scheduled workshops and webinars offering information about a range of topics. Upcoming sessions of a business startup workshop are set for 1 to 4:30 p.m. April 28 and May 5 and 24 at the center, located at 2591 Legacy Way. The workshops will cover the business planning process, including financing options, legal structures, licensing, state registration and trade name searches. Admission is $55, which also includes access to one-hour Fast Trac presentations on business basics. A free Finance Friday webinar on business accounting is set for 2:30 to 3:30 p.m. April 29. A class on the basics of Excel spreadsheets is set for 1:30 to 3:30 p.m. May 23. Admission is $35. Participants must bring their own laptop computers. For more information about upcoming events, programs and services at the Business Incubator Center, call 243-5242 or log on to http://gjincubator.org. n The Western Colorado Human Resource Association has scheduled its annual spring employment law conference for 8 a.m. to 5 p.m. April 26. The conference will be offered virtually as well as an in-person event at the Colorado Mesa University ballroom in Grand Junction. The conference will include legislative and case law updates, a session on paid leave requirements and question-and-answer session with a panel of lawyers. To register or obtain more information, visit the website at www.wchra.org. n The Colorado Mesa University Entrepreneurship Day luncheon is set for noon to 1:30 p.m. April 27 at the CMU ballroom in Grand Junction. The keynote luncheon will feature Kurtis Minder, co-founder and chief executive officer of GroupSense. Minder has negotiated some of the largest ransomware, breach and data extortion cases worldwide. Tickets sell for $60 for individuals, $500 for a table for eight and $1,000 for sponsors. To register to attend or obtain informatiåon, visit https://www.supportingcmu.com/Eday.
Federal and state legislation affects employment agreements Several important changes to federal and state employment laws have occurred over the past few months. The Ban on Arbitration Act amends federal law to prohibit mandatory arbitration of certain employmentrelated claims. In Colorado, the Legislature amended the noncompete statute to impose criminal penalties against employers who violate the law. The Ban on Arbitration Act prevents employers from implementing and enforcing mandatory pre-dispute arbitration or joint-action agreements for claims involving allegations of sexual harassment or sexual assault. Prior to the act, employers often required new hires to sign such agreements, which provided that any or certain claims employees might bring against the employers Michelle later would be subject to arbitration rather Ferguson than litigation in federal or state courts. The act states that at the election of the individual alleging sexual harassment or assault, any pre-dispute arbitration agreement or pre-dispute joint-action waiver — agreements foregoing employees’ ability to participate in a class action or joint action against their employers — is unenforceable. An employee may choose to proceed through arbitration Jennifer or court at their sole discretion Kinkade when their claims relate to sexual harassment or sexual assault. For now, the act only applies to pre-dispute agreements pertaining to claims related to sexual harassment or sexual assault. However, additional categories of employmentrelated claims could be subject to future legislation. Further, the act applies to any disputes “related to” sexual harassment or sexual assault. This means the act could encompass cases involving other types of alleged discrimination or harassment, but which also contain allegations of sexual harassment or assault. Employers are still permitted to enter into arbitration agreements or joint-action waivers with employees after the dispute related to sexual harassment or assault arises or accrues. Whether a dispute is subject to the act is
determinable only by a court of law, not an arbitrator. Employers should amend existing pre-dispute arbitration agreements to exclude mandatory arbitration over matters involving sexual harassment or assault. A Colorado law states that, generally, any agreement preventing employees from obtaining subsequent employment is void and unenforceable. This includes noncompete and nonsolicitation agreements subject to four enumerated exceptions. The Colorado Legislature recently amended the law to provide that a person who violates the law commits a class 2 misdemeanor punishable by up to 120 days in jail, a fine up to $750 or both. As such, implementation of an agreement that violates this statute is a crime. While such criminal penalties are not new, the Legislature’s decision to amend the statute to provide for such penalties directly in the noncompete statute signals the Legislature’s desire to find ways to deter employers from using such agreements — and potentially signals changes in enforcement of such penalties. Noncompete and nonsolicitation agreements are often subject to intense factual analysis before a court or arbitrator. Such agreements may only be enforced if one of the four exceptions of the statute applies and where the restrictions are reasonable. Whether the agreement is reasonable depends on many factors, including the temporal and geographic scope of the restrictions. It remains unclear whether or not the criminal penalties are triggered at the time the employee signs an unenforceable agreement or the employer attempts to enforce the void agreement. Either way, employers should review their existing agreements and carefully analyze their terms for compliance with the law. This column is intended as general information and is not to be construed as legal advice. Those who need legal advice should consult a lawyer. Michelle Ferguson and Jennifer Kinkade are employment law attorneys at Ireland Stapleton Pryor & Pascoe. They represent employers in all types of employment law matters. For more information, visit the website located at www.irelandstapleton.com/practice-areas/employment. This column was provided by the Western Colorado Human Resource Association. For more information, log on to www.wchra.org. F
Page 22
The Business Times
aPril 21-May 11, 2022
Encourage success through praise and recognition Business leaders focused on moving their companies to ever higher levels of effectiveness, efficiency, profitability and success look for ways to improve their business models. It takes a discerning awareness of what works — and doesn’t — in the daily operations. There’s a common pitfall to avoid, though, in focusing only on what’s wrong at the expense of what’s right. While this approach might achieve some short-term results, it will damage over the long run vital aspects of the business. Given their astigmatism, these leaders will fail to see what’s achieved, the efforts put forth by team members and how much the business has actually progressed Marcus over time. Straub These same leaders will squash the morale of their team members with a lack of praise and abundance of criticism. In turn, team members will become less excited about being a part of and furthering the company’s mission. Top performers will likely move on. This will hurt the very effectiveness and efficiency that’s sought and profitability and success that’s desired. Conversely, when leaders offer well-deserved praise and recognition to team members while also working to improve operations, a solid culture is built and benefits ripple throughout the business. Why? Because when people feel good — even great — about the progress they’re making and work they’re doing, they’re encouraged to stay the course. Consider how great it feels and how motivating it is when you receive praise and recognition for your efforts and hard work. Most people thrive on praise and enjoy recognition.
When the team members in any business are supported in constructive ways — for a job well-done as well as those areas in which they need improvement — they will perform at higher levels simply because they feel valued and encouraged to do their best. When you give others what they want, they’re more likely to give you what you want.
When a person is praised for a job well done, they feel good and valued. They’re inspired to keep up the good work. They become excited, and their response is apparent in their body language and behavior. When this happens repeatedly, they grow more self-confident, take on challenges with greater initiative and passion and become more adept at whatever it is they are doing. In other words, they’re motivated to learn, grow and become more. On the other hand, when a person truly gives their best and receives only criticism of what they did wrong and should have done better, they feel defeated, inadequate and undervalued. If you’ve ever been on the receiving end of this exchange, you know it’s unpleasant experience of defeat. This is called negative conditioning, which over time leads to less self-confidence, engagement and performance and more turnover. The desire to feel good about ourselves and the efforts we put forth constitutes a very real human need.
It’s important for leaders to understand this tenet, They must change their perspectives and behaviors to offer the praise and recognition their team members appreciate and need to continue advancing. Positive reinforcement offers a much more effective leadership strategy than negative conditioning. As I coach leaders how to lead from a position of composure and with a balanced perspective, they work with their teams in new, dynamic and more effective ways. This enables them to build empowered teams that produce the very results they want to achieve. When the team members in any business are supported in constructive ways — for a job well-done as well as those areas in which they need improvement — they will perform at higher levels simply because they feel valued and encouraged to do their best. When you give others what they want, they’re more likely to give you what you want. Everyone is happier. In your pursuit of a finely tuned business and success, don’t forget to consistently offer the well-deserved praise and recognition your team members need to learn, grow and become top performers. Doing so will increase job satisfaction and performance and reduce costly turnover.
Marcus Straub owns Life is Great Coaching in Grand Junction. His personalized coaching and consulting services help individuals, business owners, executives and companies build teams, organizations and lives filled with happiness and success. Straub is winner of the International Coach of the Year Award and author of “Is It Fun Being You?” He’s available for free consultations regarding coaching, speaking and trainings. Reach Straub at (970) 208-3150, marcus@ligcoaching.com or through the website located at www.ligcoaching.com. F
April 21-MAy 11, 2022
The Business Times
There’s no need to fear the independent audit: Here’s how to get ready Managing a business sometimes involves an independent audit. Not to be confused with the purely financial audit, an independent audit is used to prepare for such activities as the potential sale of your business or seeking financing or investor capital. Preparing for audits can be nerve-racking and confusing. Business owners have been known to suffer anxiety attacks and even heart palpitations at the mere thought of an audit. Here are a few steps to make audit preparation less stressful and the Janet process smoother. For starters, this is Arrowood an independent audit, not an Internal Revenue Service audit. You get to choose your auditor. Choose the right one. The organization you choose should have experience with, and references from, companies with similar profiles as your company. If you’re a small biotech company, choosing an auditor whose main experience is with large aerospace manufacturers probably won’t offer a good fit and could be expensive. You really don’t want to educate your auditor about your business in real time. That education will cost you time and money with the benefits accruing to the auditor since you’re paying them while educating them. Referrals usually offer the best way to find an appropriate auditor, followed by checking references. Make sure your documentation — both paper and digital — is complete and organized. You might even coordinate with the auditor to get a checklist of what’s needed, compile your documentation and create a “manual.” In addition to containing the required information, this manual could provide information about your company and any unique considerations, special risks or
areas of concern. Don’t overwhelm the auditor with data, but don’t leave anything out. Your auditor is your friend — one who helps you reach an end or attain a goal, not harass or intimidate you. Document your employees’ roles and tasks and your organization’s procedures to provide a guide to how you do things. Remember: Your documentation and procedures are new to the auditor. Designate an employee who’s familiar with your procedures and the documentation in the manual to accompany the auditor and smooth the way by coordinating meetings and any additional documentation or data requirements. Prepare. Gather and complete all financial and other data, reconciling balance sheets, bank statements and financial statements. Don’t waste the auditor’s time by failing to have critical information complete and readily available. If you lack expertise in areas the audit covers, bring in outside specialists in advance of the audit. This will save everyone time and save you money and aggravation. Ask others in your network of business connections about their audit experience and suggestions. They could have a referral or two for you to contact. There’s no sense in reinventing the wheel. Your first independent audit doesn’t have to be painful or intimidating. A little preparation goes a long way. Disclaimer: This article is intended for informational purposes. Neither Janet Arrowood nor the Write Source are accountants, auditors or legal or tax experts. Always consult an appropriately credentialed specialist. Janet Arrowood is founder and managing director of the Write Source, a Grand Junction firm offering a range of services, including grant and proposal writing, instruction and technical writing. Email her at janet.arrowood@thewritesourceinc.com. For more information, visit the website at www.TheWriteSourceInc.com. F
pAge 23
The Business Times
Page 24
aPril 21-May 11, 2022
Best leaders develop other leaders in workplace Zoomers, Gen-Xers and a post-pandemic world. Oh my. Are we really ready to lead in this emerging landscape? The issues organizations face today didn’t happen overnight. The COVID-19 pandemic didn’t create the monsters at the gates. The pandemic only exacerbated the situation. I’ve long believed command-andcontrol is dead, and leaders must molt into new leadership skins. With the impending shift in the work dynamic — the majority of workers will be Zoomers by the end of this decade — Tim we must reframe our leadership focus Haggerty towards servant rather than commander. The time has come to assess your role in leadership development in your organization. Right or wrong, good or bad, you create leaders within your organization. Your employees take their cues from those leaders. And your customers take their cues from your employees. What does your market tell you? Writing for the Association for Talent Development, Mack and Ria Story summarized the effects of what they described as five types of leaders: “When it comes to what’s going on in the organization, leaders are either making it happen (good or bad), allowing it to happen (good or bad) or preventing it from happening (good or bad). Ultimately, the top leader is responsible, whether they accept responsibility or not.”
Subscribe today (970) 424-5133
www.thebusinesstimes.com
Leaders who don’t accept responsibility for those they’re entrusted to lead aren’t leaders at all. Accepting responsibility is, in fact, the mark of a good leader. The Storys offered more: “High-impact, transformational leaders know this and take responsibility for everything that is happening. Meanwhile, low-impact leaders avoid taking responsibility for what’s happening as they search for others to blame. They create a tremendous amount of distrust throughout the organization as they try to maintain power and control. “It takes an extremely high degree of character to make the transition to become a high-impact leader because you must move beyond only accepting responsibility for growing yourself. When you truly and sincerely choose to begin to grow and develop others, you must become responsible to others. Low-impact leaders are unwilling to do this. They have the ability, but they do not have the desire. Bottom line: If you invest abundantly in other leaders, your influence will exponentially increase through them.” While the Storys described five types of leaders, I advocate for one style. Servant leadership gets to the heart and soul of becoming the type of leader who’ll not only maximize your potential, but also maximize the potential of other leaders within your organization. While traditional leadership involves the exercise of power by the one at the top of the proverbial pyramid, a servant leader shares power. A servant leader puts the needs of others first and helps others develop so they can perform at their highest possible levels. Servant leadership turns the pyramid upside down. Instead of people working
to serve the leader, the leader exists to serve people. When leaders shift their mindset and serve first, they unlock purpose and ingenuity in those around them, resulting in higher performance and engaged, fulfilled employees. What are post-pandemic employees looking for? What do Zoomers want? They all want servant leadership. Servant leadership drives results in virtually any organization requiring human capital. But it takes a conscious effort to develop and drive the right leadership within your organization. It takes a conscious effort to engage employees in driving the results you want and need for your organization. Here’s one more thought to ponder: Did you know everyone in your organization is a leader? Some lead things you want. Others lead things you don’t want. Why not train everyone to become a better leader? Tim Haggerty and his wife, Bernadette, operate a consulting firm based in Grand Junction that helps clients transition from command-and-control to servant leadership and change the view of wages and benefits from expenses to investments. Haggerty brings to the venture more than 40 years of experience in operations management and a record of decreasing costs while increasing productivity and revenue. Reach him at info@timothyhaggerty.com or (610) 737-0496. More information is available at www.timothyhaggerty.com. F
April 21-MAy 11, 2022
The Business Times
pAge 25
Real estate report offers useful information Unprecedented circumstances present challenges in understanding our place within national and local commercial real estate market trends. Interest rates, inflation and a potential recession lurking around the next corner are just a few of the factors leading to uncertainty. Still, developers, economists and investors turn to market reports to monitor activity and determine the stage of the nationwide market. One example is the Mueller Real Estate Monitor Report created by Glenn Mueller at the University of Becca Denver Burns School of Real Estate Posner and Construction Management. This report monitors four property types within 54 metropolitan areas of the nation — apartments, industrial, office and retail. The report also breaks down market cycles into four phases — recovery, expansion, hyper supply and recession. These cycles offer a tool to help make decisions about investments and exit strategies. Here’s a look at the four phases in detail: n Phase one — recovery: This is considered the beginning or bottom of the cycle. This is when the market has been in an oversupply from new construction or decreased demand in growth. This is when the oversupply is starting to stabilize and correct itself. Vacancy rates are
dropping, and the market is starting to trend upwards. n Phase two — expansion: This is the phase in which vacancy rates continue to decline and developers see rents rise. This is when planning for future development begins. Market research helps in securing loans for new development. Rents continue to increase even as vacancy rates decrease. This is where supply and demand grow at the same rates. n Phase three — hyper supply: At this phase, the market starts to shift, which can happen fast. There’s less demand while more supply is in the works. Suppliers compete to fill the oversupply, and rents become a bartering chip in filling spaces. Rental growth slows, vacancy rates increase and rents begin to drop. n Phase four — recession: The final stage of the cycle features a high supply and plummeting demand. Developers and landlords must act aggressively in pricing to try to keep vacancy rates as low as possible. Rents decrease, market movement is slow, property values are deflated, new development eventually ceases and the market begins to reset itself.
Most people are familiar with one-on-one fitness training sessions. These sessions are available at most health clubs and independent studios. But what’s changed might surprise you. Crossroads Fitness Centers in Grand Junction is an industry leader in small group personal training. Although the concept seems to have only recently hit the market, we’ve been doing it for years. Why is this best-kept secret so successful for reaching fitness goals? Many people believe they can work out alone. Many can. For most of though, the reality is we won’t do it Paula us, with success. Individuals who exercise Reece on their own have a 45 percent dropout rate within the first year. The second year it’s 52 percent. That leaves only a 3 percent rate for someone to succeed with an exercise plan. Small group training is successful for many reasons. Leaders are personal trainers with knowledge of anatomy, exercise science and nutrition. Because of their education
and experience, you feel comfortable in their abilities to train you. Small group training also offers a cost-effective way to work out with trainers. Trainers split the cost of their time between a few people. Everyone benefits by sharing the cost. Another benefit of small group training is the variety. Each workout is carefully designed for your group. Classes might include cardiovascular exercise, circuits, core work, interval training and weights. Some of these tools used in workouts include kettle bells, plyo boxes, slam balls and suspension training. Many of these tools require proper technique and form to not only get the most benefit, but also reduce the risk of injury. One of the most important benefits to achieving your fitness goals through small group training is structure. By having a class you attend two or three times every week with the same trainer and same people, you develop a workout habit. All you have to do is show up. That structure becomes part of not only your weekly schedule, but also your lifestyle. The part I like best? The social aspect. A small group
Developers, economists and investors turn to market reports to monitor activity and determine the stage of the nationwide market.
How do the markets today compare from two years ago? In comparing the fourth quarter of 2021 to the fourth quarter of 2019, there’s been surprising little change with a couple of exceptions While office has stayed stagnant bordering the recovery and expansion phases, industrial and multi-family continue to spread between expansion and hyper supply. On the other hand, retail went from a strong expansion phase in the fourth quarter of 2019 to the bottom of hyper supply and into a recession phase as of the fourth quarter of 2021. Is this an effect from the influx of online shoppers over the past couple of years? Will retail stabilize and find its way back into an expansion phase? Inevitably, more shifts will come. The question is when and for what property types? With the boom of multi-family development under way nationwide and within the local market, my guess is there will be a hyper supply of multi-family developments and apartments, and this property type will drop into the recession phase next. Becca Posner is a broker associate at Coldwell Banker Commercial Prime Properties, a commercial brokerage and property management firm based in Grand Junction. She’s been involved in real estate since 2016. For additional information, call (970) 243-7375 or visit the website located at www.CBC-Prime.com. F
Small group training provides some big advantages training class can become a close-knit group of people all trying to achieve their individual goals. I’ve seen it over and over at Crossroads Fitness. People who start out exercising together don’t know each other. After a while, they become friends in and out of the club. Some classes might include businesspeople exercising before work. Others classes might include moms with young children. Other classes are a mix. The fact these people now have a support group that cares about them constitutes one of the most beneficial aspects of small group training. Working out in a group yields more success than attempting to do it on your own. Give small group training a try and experience the benefits for yourself. You’ll be amazed to find a trainer and group of people who are there to cheer you on. Paula and Dale Reece own Crossroads Fitness Centers in Grand Junction with a downtown location at 225 N. Fifth St. and north location at 2768 Compass Drive. For more information, call 242-8746 or visit the website located at www.crossroadsfitness.com. F
Contributors Opinion Bold predictions for 2015 pay Believe me, businesses Need speed a part more A newforyear affords Business Briefs like not-so-bold repeats their (and your) fair shares of the newspaper biz a new opportunity Business People Almanac to meet local needs THE he B BUSINESS usiness T T Times IMES
PPAGE age 26 22
I’m reluctant to quote lines from a movie because of the nearly ubiquitous convention of so many who do. I’m willing to make an exception, though, because these particular lines encapsulate the sense of urgency I so often confront. I feel the need. The need for speed. Not as brings a jet fighter pilot, obviously. But as a newspaper A new year almost always an opportunity for a fresh start and renewed ambition toeditor. do things better. I don’t facedown the same pressures as some of my products colleagues In business, that usually boils to providing customers better in the media. But I’d like to believe I’m no less determined and services faster and at lower cost than competitors. Part of the process must to report news not only accurately, but alsoneed prettyand darned include listening to customers to determine what they actually then quickly. News is a lot like fish — best delivered fresh. meeting that need. After all, it does little good to offer the latest and greatest if Otherwise, it starts to stink. nobody actually wants what you’re selling. Thethat growing of the internet and websites in Area reporting Just like the businesses belongrole to the group, the Grand Junction news has helped in leveling the proverbial playing field Chamber of Commerce invariably starts out the new year with a reassessment of amongitnewspaper, radio television reporters. I no longer the services and resources provides and howand well they match with members to wait for theofnext edition to come along to report needs. Jeff Franklin,have the new chairman the print chamber board of directors, Phil Castle an important story. what My webmaster is always respond personifies this approach in describing he considers his rolequick for thetocoming to my emails and handles minutes. year: listen to members, determine their needs that and task thenin meet those Nonetheless, needs. It’s a the to report news is almost instantly has made the process more roleability with which Franklin familiar as market president of Bankall of the Colorado. impelling. The process will take on a more structured approach in what the chamber to mention which haven’t yet gone the way of the the plansThat’s as thenot resumption of deadlines a program— aptly called Listening to Business. Under buggy whip. They owners add to the stress that from merely to bothersome to program, business participate in ranges in-depth interviews identify barriers to full-blown depending on how close they loom. growth andapocalyptic other problems they encounter. So was year withoffers considerable envyto I read story by Thu-Huong Theitnew a good time join athe proverbial club. Ha posted on Quartz about romance novelists and the speed at which they write. Times? As an advertiser or reader, what do you need from the Business She quotes as a journals poster child of sorts H.M. a self-published While business traditionally gatherWard, and report the relevantauthor news to whose have sold more than 20 million copies.street. WardThat’s says she writes two readers,novels communication isn’t necessarily a one-way especially true as hours a day and averages 2,500 words hour. By comparison, Web sites and e-mail makeabout the dialogue morean convenient than ever. this little lament runspublications about 500 words. Good don’t exist in a vacuum. They respond to the needs of Then there’s Katherine writes four or five novels a year and has advertisers and readers. TheyGarbera, provide who what’s needed. completed more thanneed? 100 novels over the course of her career. So what do you IIsattribute part of my problem to the developed the course there additional news coverage thathabits wouldI’ve help keep youover informed aboutof my career as both a writer and editor and the conflict between those two roles. local business developments? Are there features that would be interesting or Iuseful? believeIswriting is a constructive — assembling something out of bits there advice that would process make your jobs a little easier? and pieces. Editing, on thetoother hand you is a deconstructive process dismantling It’s equally important ask what don’t need. With limited—time to something to replace it with space something better. that involves produce content and limited in which to Sometimes publish it, would time anda space be polishing cloth.toOther times else? a wrecking ball. What slows me down is trying to better devoted something engage in both processes simultaneously. To deploy another analogy, I’m What’s good? What isn’t? What’s needed? What yet isn’t? like aLet bricklayer who can’t move on to the next course until one before is Web as us know. Send us an e-mail. Comment online on thethe Business Times perfect as I can make it. site at www.thebusinesstimes.com. You could even write an old-fashioned letter to I realize I’d belike. better offfeedback, remembering of the tortoise andand hare the editor if you’d Your both Aesop’s positive fable and negative, is valued and promise slow and steady ultimately wins the race. I can’t help thinking, will the be carefully considered. though, of publications Chuck Jones’are more about coyote Good the modern result offable not only thethe efforts of and theirroadrunner. staffs, but also I still feel the need. The need for speed. But I’m resigned to the likelihood I’ll collaborative efforts involving advertisers and readers. neverLike catch Notgood even business, with Acme skates. anyup. other werocket-powered want to listen toroller our customers, find out what they need and then meet those needs. Phil It’s Castle is editor of the Business a new year. Please help us toTimes. do so. Reach him at 424-5133 or phil@thebusinesstimes.com. ✦ F
THE BUSINESS TIMES
609 North Ave., Suite 2, Grand Junction, CO 81501 TEL (970) 424-5133 • FAX (970) 424-5134
Publisher/Owner: Craig R. Hall
Editor: Phil Castle
Reach advertising at: publisher@thebusinesstimes.com Reach the editor at: phil@thebusinesstimes.com.
Subscribe or submit press releases online at www.thebusinesstimes.com The Grand Valley Business Times, a subsidiary of Hall Media Group LLC, is published twice monthly and distributed throughout Grand Junction, Fruita and Palisade. Advertising rates and deadlines are available upon request. Opinions expressed in this publication are those of the writers and do not necessarily reflect the views of the publisher, editor, staff or advertisers. Copyright © 2015 — AllCopyright rights reserved. © 2022 — All rights reserved.
Of thetime Ronald Reagan quotes I enjoy, It’sall that of year when this one might beprognostications my favorite: “Republicans resolutions and abound. believe everysaying day is the FourthtoofNew July,Year’s but My favorite applied the Democrats believe every day is April 15.” resolutions is in saying they’re basically a Ibunch bet Ronnie is turning in the his grave of promises to over break first week knowing all And too many believe of January. whileRepublicans I won’t predict a this as well Just look at their actions whole lot, Itoday. can pretty much accurately versus theirthings rhetoric. nail a few that without question Speaking will make theof news. You will see these are rhetoric, our president pretty, well, predictable: came■out once againone: Prediction with dead Therethewill behorse some talking which sort of points weather event, annually surroundorthe natural disaster Democrats’ favorite heinous occurrence holiday, stating how where someone will the “rich” and “big be interviewed and say businesses” aren’t the following: “I’ve paying theiranything “fair never seen Craig Hall share” —inallmy while like that hiding his and hisif this lifetime.” It’s as Craig wife’s under S Corps to avoidHall paying personincome is a required Social Security and Medicare taxes. Hell, Ol’ attendee at every news Sheriff Joeevent. has been using this loopholemost to reporting While I understand hide his income even to theindeed point of people’s perspective can beavoiding limited Obamacare taxes within, for years.their own personal by, or contained I’ve beenitpart of the income taxto experiences, is too much to ask sausage fest since I was 14 years old. Back consult some historical perspective before then andsuch for many of my taxes saying a thing? Yes,early this years, response can weren’t big thing to me. apply toasome events. ButThat’s whenbecause it comes Itowas led toand believe I was always getting weather natural disasters, I’m pretty an annual As my years wentitself. on, sure this is“refund.” simply history repeating ISame realized everyone in government loves as it has for millions and millions of changing the important, meaning ofthe words — and years. More planet made it! refund is onewere of their favorites. Refunds What didn’t certain species. How’s are overconfiscation. It means the thatsimply for perspective? government took too much of ityour money, ■ Prediction two: When comes to a spent or wasted a good portion crimeitorunwisely something that occurs between of it and then took its good old time getting humans, the other required attendee at all it backreporting to you. events is the person who news growwe’re olderjust andthe earn more says As this:we “They nicest income, we find the government takes our people, and in no way did I see something money makesExactly. us jumpNo through hoops like thisand coming.” one does and the when nearlyit 80,000-page tax mostnavigate of the time comes to code to petition our grievances to getshould neighbors and acquaintances. People OUR moneyatback. yet, if you be surprised whatBetter goes on from timefind to someone really good to help in getting time in their neighborhoods, towns and even more dollars backbecause or pay apeople lesserare with people they know amount, you be rewarded with good. And forjust the might times that they shouldn’t abecolonoscopy known an audit. repeat shocked — like withaspoliticians, And the on — topwhere’s is the president offenders andcherry terrorists the and members of Congress calling you a interview that says, “This doesn’t surprise criminal me in thebecause least.” you followed their tax laws.■Quite the scam, Prediction three:no? Something good Anothereconomically, of my early tax recollections will happen and the involved onewill of the twocredit brothers I worked for government take for it. The most spending Saturday afternoons handwriting recent example is gas prices, where people our and filling every line forfor ask paychecks me why I won’t creditinthe president federal stateMy taxes. I watched him literally low gasand prices. answer is simple: go line by linenever in IRS publications find Government makes the pricetoof the amounts he needed to subtract from our something go down and simply takes credit checks innews. what seemed to be isa painstaking, for good Gas pricing subject to severe kick infactors. the backside. By the many global Now there areway, no one kills trees better the federal government answers tothan addressing some of government. wonder if thatforwas all so they them to keepIprices stable Americans, could up with climate change lawinafter but ourcome government has none of them law which, ironically, alsoinsoon tax. place. The only thingswill it has placebeina the
aPril 21-M15-28, ay 11, 2015 2022 JANUARY
memory of consumers. watching Chuck long The run always hurt Another do to write out my measly factall is that that work unemployment reaches a certain paycheck — hey, I was level basedfor on$50 the economy. Andmaking while the $1.75 an hour to fold pants and government might bragpolyester the number is low, Levis andthan make surethe thegovernment leisure suits it’s more likely didwere in color andtosize order back being in the low day something cause that — number is and center during tax time. —always and notfront in a good way. Conversely, when And that’s because 20because some years ago, I business picks up, it’s the people became the guy writing the checks. who need to buy widgets who were not At widgets least thebecause good news when was buying the economy Icontracting became boss the progress in duewas to natural (or unnatural, computers filling reasons, in the lines of we governmentsocaused) decided “deductions” onwidgets. paychecks better buy some Thebecame government automated at least had nothing— to well do with this. a year at a time.■Because next yearInthe tax laws Prediction four: keeping withand rates change, and all Ithe uber the rich thingswould the government does, predict businesses have to shell out another governmentwould will manipulate the numbers to few bucks for the latest version makehundred the claim the economy is getting of software to of avoid cavity better because howtheir hardpersonal it is working to search. I pay a service to doNow my help all Today, of us “working Americans.” payroll. Want knowyou the always why? It’s you might say, to “Craig, sayso this taxes paid timely, I don’t make about are President Obamaand because you don’t any The only like mistakes. him.” You’re right incavities a sense. II want don’t filled mybut dentist. know are the by man, what I know of him and Which brings toitthe of iota. his thinking, I don’tme like or point him one this column. Wanna know who the like Before you go off, however, I didn’t largest employees thebailouts, IRS really are? President Bush andofhis stimulus Businesses. How’s that you ask? Do and his abandoning the free market to save you honestly think IRS has minions the free market. Andthe I don’t know him like Matthew thegovernment Disciple (well, has the either. What the does,itand disciples, only thingtrust it canme) do,collecting is hurt thetaxes economy. in neighborhoods? No,or theput IRS has in Unless it does nothing criminals conscripted businesses to do its dirtynothing work. jail instead of partnering with them, YOU don’t does pay taxes. Businesses the government will help. Alwayspay look taxes for way, you. Businesses collect and paysays at it this whatever the government income taxes, Medicare Medicaid taxes, it is doing, whatever theand name of the law it Social Security taxes, state local is passing, or whatever theand name or income goal of tax, all sales taxesitand pretty much the bureaucracy is presenting to any the tax YOU owe the government. And businesses people, expect the polar opposite to occur. have Itoguess keep accurate pay your what I’mrecords sayingand is that taxes timely else. absorb perhaps it’s or time toBusinesses get out of also our own the costs of the collection, payment and perspective. There’s plenty of history conformity tax lawsresearch — even to pointto books and to historical outthethere if a business ships products to of other begin to understand that all thisstates has in keeping before. up with And everyitstate local tax. happened willand again, Yes, a business fromisCalifornia whether the topic people orshipping government. me aThe pair of golf shoes needs to know best recommendation is toMesa find County and Grand tax rates so local some books or tryJunction that whole Google politicians can brag the health ofonlocal thing. There’s a lotabout of information the government due to tax receipts. Great Depression. The truth is it wasn’t to take part in your evenIfa you goodreally one want until the government got “fair share” of paying taxes, how about involved. There’s also plenty of research making every person pay each when tax onthe every on the medieval warm period transaction everythan timetoday they with planet was separately much warmer buy something get a paycheck? You’d a whole lot lessorpeople (and warmer well see tax man reform in here seconds andAnd worthless before was at all). yep, politicians outbeen of jobs evenother quicker. people have killing surprised If you believe today’s tax written. laws are people since history was first fair, you should for office. Maybe somerun research willBecause help stop “fair” in taxes is theOtherwise, last thing politicians all of these trends. we’ll be want. scapegoating andit in sayingAnd we’ve never seen businesses anything like business just fine by them. our lives.owners And notis in a good way. Craig Craig Hall Hall is is owner owner and and publisher publisher of of the the Business Business Times. Times. Reach Reach him him at at 424-5133 424-5133 or or publisher@thebusinesstimes.com. publisher@thebusinesstimes.com. F ✦
April 21-MAy 11, 2022
The Business Times
Pharmaceutical sector an entrepreneurial one The pharmaceutical and medicine manufacturing industry has the reputation for being all about large businesses, a mistaken view widely pitched in political circles. While large firms remain critical to the industry and the life-saving, life-enhancing treatments it produces — firms that grew as a result of producing new and improved drug treatments — it pays to keep in mind the entrepreneurial nature of the sector. According to the latest data from the U.S. Census Bureau for 2018, 47.6 percent of employer firms within the pharmaceutical and medicine manufacturing industry have fewer than 10 employees, Raymond 59.4 percent fewer Keating than 20 employees, and 78.9 percent fewer than 100 workers. Because this industry has flourished, we’ve seen the incredible accomplishments relating to COVID-19 vaccines and treatments. As the Associated Press reported: “Developed and rolled out at blistering speed, the vaccines have proved incredibly safe and highly effective at preventing deaths and hospitalizations. Unvaccinated people have a 14 times higher risk of dying compared to fully vaccinated people, the Centers for Disease Control and Prevention estimated based on available data from September.” As for lives saved, Nature.com reported: “It is estimated that this astonishingly rapid development and deployment has saved at least 750,000 lives in the United States and Europe alone — and probably many more globally, although researchers are as yet unwilling to commit to a number.” As devastating as this pandemic has been for the economy, a new report from HeartlandForward found the following: “The rapid development and deployment of vaccines during the COVID-19 pandemic lessened the impact of the virus on the economy, generating an estimated economic savings in the U.S. of $438 billion in terms of 2021 real GDP gain, or 2.3 percent of 2021 real GDP.” The authors added: “These savings, and the development of the vaccine itself, are possible because of the United States’ unique public-private partnership between government agencies, academia and the biopharmaceutical industry that supports innovations in disease therapy. Specifically, the biopharmaceutical industry was and continues to respond to the pandemic swiftly with new therapies because it has been allowed to commercialize other therapies in the past, which then provides available capital for
new research and development activities.” Along these lines, a Congressional Budget Office report on prescription drug pricing makes two important points about what the pharmaceutical industry has accomplished over the years and how that’s been achieved. The accomplishment is clear: “Nationwide spending on prescription drugs increased from $30 billion in 1980 to $335 billion in 2018. Over that period, real per capita spending on prescription drugs increased more than sevenfold: from $140 to $1,073. That increase in spending was driven by the development and use of many types of drugs that have yielded myriad health benefits. Because of those health benefits, some drugs, such as those that treat cardiovascular conditions, are associated with reductions in spending on services provided by hospitals and physicians. Other types of drugs, such as those that treat multiple sclerosis or cancer, may not offer such compensating savings, but they have improved the lives of those with chronic conditions and have also extended life.” As for how this has come about: “Decisions about whether to undertake the necessary laboratory research and clinical trials for any particular compound must be made in the face of uncertainty about its ultimate clinical value. Most drug compounds yield no significant therapeutic results. Of those that enter clinical trials, only about 12 percent make it to market. So, for a firm with 100 products in development and 12 that make it to market, profitability depends on the revenues from the 12 marketed products and the cost of all 100 products in development.” Enormous challenges persist on the health and economic fronts. But it pays to keep in mind where we’d be without the innovation from and investment in the pharmaceutical industry. From a policy perspective, lawmakers must keep the following foremost in mind: Price controls on prescription drugs and weakened property rights, as often advocated by politicians and certain activists, would undermine entrepreneurship and private investment in the industry, and therefore, the creation of new and improved drugs. Starting up and investing in pharmaceutical companies rank as endeavors rich in risk and uncertainty. The potential for returns incentivizes the investments that fund innovation. Limit those returns through price controls or weakened property rights, and we’ll experience a grim limit on the discovery and production of new and improved life-saving and life-enhancing drugs. Raymond Keating is chief economist for the Small Business & Entrepreneurship Council. Reach him through the website at www.sbecouncil.org. F
pAge 27
Page 28
Opinion Business Briefs Business People Almanac
n INTEGRAL SENIOR LIVING TAKES OVER MANAGEMENT OF THE LODGE AT GRAND JUNCTION
Integral Senior Living has added a Grand Junction community to the facilities the company managers. Integral Senior Living announced it’s managing the Lodge at Grand Junction as well as a total of four more communities in Colorado, Nevada and Oklahoma. “This expansion will allow for us to continue providing exceptional care to senior living residents and their families in the Jeffery Smith Western and mid-Western regions,”said Jeffery Smith, senior vice president of sales and marketing at Integral Senior Living. “We’re excited to help these thriving communities continue to grow and welcome them into the ISL family.” Located at 2565 Patterson Road, the Lodge at Grand Junction provides assisted living, respite care and memory care. The facility offers senior apartments with kitchenettes, restaurant-style dining and around-the-clock staffing. For more information call 394-3848 or visit https://thelodgeatgrandjunction.com. Headquartered in California, Integral Senior Living manages a total of more than 100 senior living communities in 25 states. For more information, log on to https://islllc.com. n MESA COUNTY WORKFORCE CENTER AND CMU TEAM UP TO HOST CAREER AND JOB FAIR More than 100 employers are expected to participate in a career and job fair planned for Grand Junction. The Mesa County Workforce Center and Colorado Mesa University will host the Grand Valley Career and Job Fair, set for 1 to 5 p.m. April 27 at Lincoln Park off 12th Street. The event will not only offer job seekers a chance to explore employment opportunities, but also offer employers a chance to meet with Curtis Englehart many applicants at one time and one location. “Our strong collaboration with Colorado Mesa University continues to grow, and this event is a direct result of our joint efforts,” said Curtis Englehart, director of the Mesa County Workforce Center. “The Grand Valley Career and Job Fair is a great opportunity for our businesses to connect with local talent and fill their hiring needs.” Sadye Saad, director of career services at CMU, said graduates help supply work force needs. “When you take those recent graduates, plus our alumni network, employers are sure to find the right person or people for the job.” For additional information, call 248-7560 or visit the website at www.mcwfc.us.
The Business Times
SHARE YOUR NEWS
NOTEWORTHY
The Business Times welcomes submissions for free publication in Business Briefs. Email items to phil@thebusinesstimes.com or submit a news release online at www.thebusinesstimes.com.
Mountain Racing Products in Grand Junction and Sauvage Spectrum in Palisade are among the winners of the 2022 Colorado Manufacturing Awards. Mountain Racing Products received the Consumer Brand of the Year Award. Sauvage Spectrum was named Colorado Winery of the Year. Geyser Systems in Montrose was among three finalists for the award for most innovative product. The annual awards program recognizes manufacturers and individuals across multiple manufacturing industries. Manufacturer’s Edge, a manufacturing assistance center based in Denver, and CompanyWeek, a Denver-based media company, present the awards. Mountain Racing Products manufactures a variety of bicycle components marketed under different brands. MRP previously was selected as one of the Colorado Companies to Watch in a program honoring firms that demonstrate high performance in the marketplace. Sauvage Spectrum was established as a partnership of grower Kaibab Sauvage and winemaker Patric Matysiewski. The estate winery produces sparkling wines as well as a variety of other wines. Sauvage Spectrum also received the Winery of the Year Award from the Colorado Association for Viticulture and Enology. Geyser Systems designs and manufacturers hot portable shower systems that use less than a gallon of water for the outdoor recreation industry and other markets. For more information about Mountain Racing Products, visit https://mrpbike.com. For more about Sauvage Spectrum, visit https://sauvagespectrum.com. For additional information about Geyser Systems, log on to www.geysersystems.com.
n REAL ESTATE PROFESSIONAL LAUNCHES FIRM TO OFFER FLAT FEES, CONSULTING SERVICES Amy Moore has launched Right Move Realty to offer listing services for a flat fee, saving homeowners potentially thousands of dollars compared to traditional real estate commissions. Moore also offers consulting services to customers who want to sell their own homes. Moore brings to her venture more than 26 years of experience. For more information, contact Moore at Amy Moore 250-8614. n COMMUNICATION PRODUCTS DISTRIBUTOR SCHEDULES MOVE TO NEW LOCATION Allcomm Data Supply is scheduled to open April 25 in a new location at 379 Indian Road in Grand Junction. The store will be closed April 22 to accommodate the move. Allcomm Data Supply operates a wholesale distributor for data and communication cabling products, including products for access control, audio and video systems, data and voice networking, firm alarms and surveillance systems. Allcomm Data Supply is open 7 a.m. to 4 p.m. weekdays. For more information, call 986-4623 or visit the website located at www.allcommdata.com. n ALPINE BANKS ANNOUNCES PAYMENT OF QUARTERLY CASH DIVIDENDS Alpine Banks of Colorado will pay quarterly cash dividends on May 2. The bank announced plans to pay a dividend of 18 cents per class B nonvoting common share and $27 per class A voting common share. Those dividends will be unchanged from those paid the previous quarter. A $6.2 billion employee-owned organization headquartered in Glenwood Springs, Alpine Bank operates locations across Colorado and serves more than 160,000 customers. For more information, visit www.alpinebank.com. F
Del Taco adds chicken rollers and popper drinks to menu Del Taco has added to its menu items priced under $2 as well as brought back its Poppers drinks in two new flavors. Chicken cheddar rollers sell for $1.29 and feature marinated and grilled chicken; freshly grated cheddar cheese; and a choice of green, ranch or chipotle sauces rolled in a warm flour tortilla. The chicken cheddar rollers add to a value menu of 20 items priced at under $2. Del Taco also offers Purple Pear Lemonade Poppers and
aPril 21-May 11, 2022
Purple Pear Sprite Poppers. The drinks feature kiwi fruit juice popping boba pearls and sweet prickly pear flavor. The drinks sell for $1.99 each for 16 ounces and $2.99 each for 24 ounces. Founded in 1964, Del Taco operates a total of about 600 restaurants in 16 states, including two restaurants in Grand Junction at 2513 U.S. Highway 6 & 50 and 2878 North Ave. For more information, visit www.deltaco.com. F
April 21-MAy 11, 2022
The Business Times
pAge 29
Page 30
BusinessBriefs Briefs Business BusinessPeople People Almanac Business Almanac
n ANB BANK NAMES COMMUNITY PRESIDENT AT GRAND JUNCTION LOCATION
Chris Dunkin has been named community president of the ANB Bank Patterson Banking Center in Grand Junction. Dunkin brings to the position more than eight years of experience as a senior business relationship manager, business specialist and personal banker. The Patterson Banking Center is Chris Dunkin located at 2608 N. 12th St. The center includes a lobby and conference room as well as three drive-up lanes and a 24-hour drive-up automated teller machine. Part of the Sturm Financial Group, ANB Bank operates banking centers throughout Colorado, Wyoming, and the Kansas City metro area. That includes three locations in Grand Junction. For more information, visit the website at www.anbbank.com. n TITLE COMPANY ANNOUNCES WESTERN SLOPE VICE PRESIDENT James Arrieta has joined Heritage Title Co. as the Western Slope vice president. Arrieta brings to his latest position more than 20 years of experience in the financial industry, including lending in Mesa County. A Western Colorado native, Arrieta holds a business degree from Colorado Mesa University and James Arrieta remains active in the CMU Alumni Association. Part of Fidelity National Financial, Heritage Title Co. has served the real estate industry in Colorado since 1977. The company operates locations across the state, including offices at 330 Grand Ave., Suite A, in Grand Junction and 200 Stafford Lane, Suite 3013 in Delta. For more information, call 241-8555 or visit the Web site at www.heritagetco.com. n GRAND JUNCTION CINEMATOGRAPHER AMONG COLORADO GRANT RECIPIENTS Will Campbell is among 14 recipients of a total of $217,000 in grants awarded through the latest round of American Rescue Plan funding. Campbell, who operates Will Campbell Films in Grand Junction, received an $18,000 grant for a film and mural project highlighting high school students in Grand Junction working on suicide prevention efforts. Colorado Creative Industries, a division of the Colorado Office of Economic Development and International Trade, awarded the grants for projects that connect artists and organizations to local initiatives. Funding supports employment opportunities for artists affected by the COVID-19 pandemic and, in turn, supports the creative sector in the state.
The Business Times
SHARE YOUR NEWS The Business Times welcomes submissions for free publication in Business People and the Almanac calendar of events. Email submissions to phil@thebusinesstimes.com or submit a news release online at www.thebusinesstimes.com. n REAL ESTATE BUSINESS HONORS BEST-SELLING AGENTS FOR MARCH Mike Moran and Toni Heiden were honored as the top-performing agents for March at Heiden Homes Realty in Grand Junction. Moran posted the most closed transactions for the month. Heiden recorded the most new listings. Moran has worked in real estate for 10 years following a 30-year career in media. He holds a master’s Mike Moran of business administration degree from Colorado Mesa University. Heiden, owner and managing broker of the firm, has worked in real estate in Western Colorado for 44 years and holds emeritus status from the National Association of Realtors. The Grand Junction Area Realtor Association named her Realtor of the Year. Heiden Homes Realty operates Toni Heiden offices at 735 Rood Ave. For more information, including properties for sale and rent, call 245-7777 or visit the website located at www.heidenhomes.com. n MESA COUNTY SCHOOL DISTRICT 51 HIRES CHIEF ACADEMIC OFFICER Jennifer Marsh has been named chief academic officer for Mesa County School District 51. She’s scheduled to begin her new duties July 1. Marsh has worked with the district since 1998, most recently as executive director of curriculum and learning design. She’s also worked as a middle Jennifer Marsh school and high school principal and assistant principal, special education coordinator and special education teacher. She holds a masters degree in special education from the University of Northern Colorado and bachelor’s degree from Colorado Mesa University. “With nearly a quarter century of experience in District 51 and as a former D51 student, I am committed and dedicated to the staff, students, parents and community that our district supports,” Marsh said. “I look forward to continuing efforts to improve lives and meet the benchmarks of our newly adopted D51 strategic plan.” F
aPril 21-May 11, 2022
April 26 n Western Colorado Human Resource Asssociation legislative conference, 8 a.m. to 5 p.m., Colorado Mesa University ballroom and virtually by Zoom. Admission ranges from $99 to $349. www.wchra.org n Western Colorado Economic Summit, 8:30 a.m. to 3 p.m, Grand Junction Convention Center, 159 Main St. Admission $75. westcoeconomicsummit.com n Grand Junction Area Chamber of Commerce presentation on the benefits of membership, noon to 1 p.m., chamber offices at 360 Grand Ave. and virtually by Zoom. https://gjchamber.org or 242-3214 n Grand Junction Area Chamber of Commerce business after hours, 5:30 to 7 p.m., Western Colorado Community College, 2508 Blichmann Ave. Admission $10 in advance and $12 at the door. https://gjchamber.org or 242-3214 April 27 n Colorado Mesa University Entrepreneurship Day featuring keynote luncheon speaker Kurtis Minder, co-founder and chief executive officer of GroupSense, noon to 1:30 p.m., CMU ballroom. Tickets sell for $60 for individuals, $500 for a table for eight and $1,000 for sponsors. https://www.supportingcmu.com/Eday April 28 n Welcome Thursday Friends networking meeting, noon to 1:30 p.m., Munchies, 550 Kokopelli Drive, Fruita. https://fruitachamber.org or 858-3894 n Business startup workshop, 1 to 4:30 p.m., Business Incubator Center, 2591 Legacy Way, Grand Junction. Admission $55. 243-5242 or https://gjincubator.org n Young Professionals Network of Mesa County business after hours, 5:30 to 7 p.m., Copper Club, 153 N. Mulberry St., Fruita. www.ypnmc.org April 29 n Free Finance Friday webinar on business accounting, 2:30 to 3:30 p.m. 243-5242 or https://gjincubator.org April 30 n Housing and Building Association of Western Colorado Home and Garden Expo, April 30 and May 1, Mesa County Fairgrounds, 2785 U.S. Highway 50, Grand Junction. 245-0253 May 5 n Fruita Area Chamber of Commerce Women in Business free networking lunch, noon to 1 p.m., KAFM Radio, 1310 Ute Ave., Grand Junction. Participants should bring a soup, salad or side dish to share. 858-3894 or https://fruitachamber.org n Business startup workshop, 1 to 4:30 p.m., Business Incubator Center. Admission $55. 243-5242 or https://gjincubator.org May 10 n Fruita Area Chamber of Commerce Women in Business headshots and happy hour, 5:30 to 7 p.m. 858-3894 or https://fruitachamber.org See ALAMANAC page 31
April 21-MAy 11, 2022
Alamanac
Continued from page 30 May 11 n Grand Junction Area Chamber of Commerce State of the Valley luncheon presentation, noon, Grand Junction Convention Center. Admission $25 for chamber members, $30 for others. 242-3214 or https://gjchamber.org Upcoming n Fruita Area Chamber of Commerce business after hours, 5:30 to 7:30 p.m. May 12, Growl Agency, 750 Main St., Suite 202, Grand Junction. Admission $5 for chamber members, $10 for others. 858-3894 or https://fruitachamber.org Upcoming n Grand Junction Area Chamber of Commerce Networking at Noon, noon to 1 p.m. May 18, Ocotillo Restaurant and Bar, 2325 W. Ridges Blvd. Admission $20
The Business Times
for chamber members, $25 for others. 242-3214 or https://gjchamber.org n Palisade Chamber of Commerce business after hours, 5:30 to 7 p.m. May 18, Palisade Basecamp RV Resort, 985 N. River Road. Admission for chamber members $5 in advance and $6 at the door. Admission for others $8 in advance and $10 at the door. https://palisadecoc.com or 464-7458 n Open Coffee Club networking, 9 to 10 a.m. May 20, FWorks, 325 E. Aspen Ave, Fruita. Members of the Fruita Area Chamber of Commerce attend at no charge. Others pay $5. https://fruitachamber.org or 858-3894 n Class on Excel spreadsheets, 1:30 to 3:30 p.m. May 23, Business Incubator Center. Admission $35. Personal laptops required. https://gjincubator.org or 243-5242 n Business startup workshop, 1 to 4:30 p.m. May 24,
pAge 31
Business Incubator Center. Admission $55. 243-5242 or https://gjincubator.org n Welcome Thursday Friends networking meeting, noon to 1:30 p.m. May 26, Ale House, 2531 N. 12th St., Grand Junction. https://fruitachamber.org or 858-3894 n Palisade Chamber of Commerce business after hours, 5:30 to 7 p.m. June 15, Jet Boat Colorado, 2237 Roan Creek Road, De Beque. Admission for chamber members $5 in advance and $6 at the door. Admission for others $8 in advance and $10 at the door. https://palisadecoc.com or 464-7458 n Grand Junction Area Chamber of Commerce quarterly membership luncheon, noon to 1:30 p.m. June 20, Colorado Mesa University. Admission $20 for chamber members, $25 for others. 242-3214 or https://gjchamber.org F
Page 32
The Business Times
aPril 21-May 11, 2022
