THE BUSINESS T IMES News JUNE 9-22, 2022
THE DEFINITIVE SOURCE FOR GRAND JUNCTION BUSINESS NEWS SINCE 1994
In this issue n New school
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Speeches, a marching band and shovels scooping dirt officially launched work on a new Grand Junction High School.
n Theatrical effort
Trends Remote Contributors control
VOLUME 29, ISSUE 11
THEBUSINESSTIMES.COM
Opinion Business Briefs 6 Business People Almanac 4
A campaign is under way to raise private funding to help pay for a project to rebuild a Colorado Mesa University theater.
n Go Code
Teams from Grand Junction took four of the top six spots in the latest Go Code Colorado competition.
n Worth watching
n Software company helps customers manage operations. Page 2
Michael Ligrani oversees Iron-IQ, a firm that’s developed technology to help oil and natural gas companies remotely monitor and control their equipment.
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Five Grand Junction-based firms are among the latest finalists in the Colorado Companies to Watch program.
n Deals and dollars
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Real estate transactions continue to decrease in Mesa County even as the total dollar volume increases.
n Labor INFO
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Interpretive notes and formal opinions — INFOs — provide guidance about labor laws and regulations.
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
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THE BUSINESS T IMES News The Business Times
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June 9-22, 2022
High school construction under way
Trends Contributors Opinion Business Briefs Business People Almanac
Ceremony kicks off $144.5 million project in Grand Junction Phil Castle
The Business Times
Speeches, a marching band and, of course, shovels scooping dirt officially launched construction of a new Grand Junction High School. Even as the ceremonial groundbreaking took place on what was a baseball field, heavy equipment nearby already had broken ground on the $144.5 million project on the northeast portion of the campus. The 250,000-square-foot, three-story high school is scheduled to open in 2024. FCI Constructors based in Grand Junction serves as general contractor. MacKenzie Younker was among those at the ceremony who said they were excited about the new school. “Never have I felt more Tiger pride than today.” Younker joined her mother, Megan Younker, and grandfather, Tom Coit, as one of three generations of Grand Junction High School graduates from the same family. But three generations was enough for a facility constructed in 1956 and showing its age, MacKenzie Younger said. “This building is our future.” Camille Dowuoana, a student originally from Ghana whose class will be the first to graduate from the new high school, agreed. “The new school will bring new life and new opportunity to students.” Many of those who spoke at the groundbreaking ceremony praised the willingness of voters to approve a 2021 ballot measure allowing Mesa County School District 51 to increase its debt $115 million to finance construction of a new Grand Junction High School. The project also will be funded by $19.5 million from a bond measure approved in 2017 as well as $10 million from the state Building Excellent Schools Today (BEST) grant program. Diana Sirko, the retiring superintendent of District 51, called the approval of the 2021 measure by such a large margin a strong statement that will have lasting effects on students and the community. Tim Foster, the former Colorado Mesa University president who served as co-chairman of the Yes on GJHS 2021 campaign, agreed. “This community supports education in a big way.” Brian Hill, the incoming District 51 superintendent, said the new Grand Junction High School will offer a state-of-the-art facility. See HIGH SCHOOL page 18
Remote control As co-founder and chief executive officer of Iron-IQ, Michael Ligrani manages a Grand Junction-based company that’s developed software to help oil and natural gas companies remotely monitor and control operations.
Grand Junction software firm helps customers manage operations
M
ichael Ligrani pulls out his smartphone to make a point. He could use his phone to make calls, check his email or complete countless other tasks. But using the software Ligrani’s company has developed, he also could control a natural gas field located nearly anywhere in the world. As co-founder and chief executive officer of Iron-IQ, Ligrani manages a Grand Junction-based operation that provides software to help customers connect equipment, processes and people on the cloud. Those connections extend from the field to data centers to mobile devices just like the phone in his hand. Iron-IQ serves the upstream oil and natural gas industry with what’s called a supervisory control and data acquisition (SCADA) platform that remotely monitors and controls pumps, tanks, valves and other equipment. But Ligrani expects Iron-IQ to expand its product line to serve other industries, among them mining, water treatment and solar and wind energy. With what he anticipates will be a 1,000 percent increase in annual recurring revenue in 2022 over 2021, his goals for the next three to five years include becoming the top SCADA provider in the energy industry and then the top SCADA provider overall.
FOR YOUR INFORMATION Iron-IQ operates out of offices at 610 Rood Ave. in Grand Junction. For additional information, call (877) 664-9355 or log on to https://iron-iq.com. Those efforts haven’t gone unnoticed. Iron-IQ recently received a $250,000 grant from the Advanced Industries Accelerator Program administered by the Global Business Development Division of the Colorado Office of Economic Development and International Trade. Ligrani says the money will be used to recruit and train additional staff. Iron-IQ also is among the latest finalists in the Colorado Companies to Watch awards program honoring fast-growing businesses in the state. While Iron-IQ serves a global market, Ligrani says he’s grateful to base the operation in Grand Junction, close to his roots as the descendant of a local farming family. Iron-IQ will add to what he envisions as a growing tech sector in the Grand Valley bolstered by the quality of life as well as a work force educated at Colorado Mesa University. See CONTROL page 16
STORY AND PHOTO BY PHIL CASTLE
June 9-22, 2022
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well-rounded perspective to new Mesa County role Phil Castle
as well as New England and Canada. Whidden said people who work in information technology aren’t just “geeks,” Frank Whidden brings what he but offer an important perspective because considers a well-rounded perspective to his they’re familiar with nearly every aspect of new job as Mesa County administrator. operations and how work gets done. They Whidden worked also tend to think about new and potentially in information better ways of doing things in asking and technology and holds answering “what if ” questions. “They know a master’s degree in how to effect change in an organization.” computer information Whidden expects to bring that same systems. But he also approach to his duties as administrator. holds a doctoral Whidden said it’s his role to help degree in applied county commissioners make and then management and implement decisions. The commissioners decision making and Frank Whidden in turn represent the residents of the worked for more than county and express their will, he said. “We 20 years as a minister. Whidden has work for the people.” worked for large and small organizations Whidden said he also considers himself in both the private and public sectors. a liaison between the commissioners and Whidden expects to draw on all of his county staff, and one of the priorities is to experiences in helping Mesa County make sure employees feel valued. Whidden commissioners make and carry out decisions. said he hopes not only to improve morale, Valuing staff and making the county but also take steps that will make Mesa an employer of choice is among the County an organization for which people priorities, Whidden said. So is planning want to work. that results in sustainable funding and Meanwhile, Whidden expects the balanced budgets onSimons, a long-term to Candies continue policies and initiatives Doug and Jamee the basis. owners of county Enstrom in Grand Junction, Meanwhile, Mesa County will that support local business and economic appear at a news conference announcing efforts to raise money for a project continue to pursue efforts that promote a development. There are additional to rebuild the Robinson Theater at Colorado Mesa University. The Simons steps are friendly environment that can be taken to by make it easier for local co-chairs business of the capital campaign. and (Business Times photo Phil Castle) economic development, Whidden said. businesses to sell products and services to Whidden officially began working as the county, he added. county administrator at the beginning of Mesa County will keep working with the year. He succeeds Tom Fisher, who was other government entities, organizations hired as county manager in Summit and institutions on fostering an environment County, Utah. that supports existing businesses and Whidden joined Mesa County in attracts businesses, he said. Phil new Castle August 2011 as information technology The Business Whidden said there could be a Times director. In April 2014, he became deputy opportunities to encourage the additional county administrator Robinson for resource development of businesses that Simons, provide Theater constitutes a special place for Doug management in a staffing to the industry as well who notreorganization only performed services in musical andagricultural theatrical productions as a that eliminated four director positions. as promote Countybut as also a distribution student at what’s now Colorado MesaMesa University, met there Before joining Mesa heCounty, for the region. the woman fell in lovecenter with and married. Whidden worked for a company providing The important thing later is toforconsider Returning to the stage more than four decades a news information technology services to issues from a well-rounded perspective, conference, Simons said there are other reasons to support a project colleges and universities. In that he among Whidden said.creating “We won’t be myopic as we to rebuild therole, theater, them a regional cultural John Marshall managed IT systems and services for look at things.” attraction that also will promote economic development. institutions in Alabama, CMU Arizona, Illinois already has received $39 million in✦state funding for the The Business Times
Additional funds sought to rebuild CMU theater
Life is Precious Mo LaMée
Serving families of the Western Slope for more than 100 years. Darin Kamstra
project and expects to invest $5 million in the effort. Doug and Jamee Simons, now owners of Enstrom Candies in Grand Junction, will serve as co-chairs of a campaign to raise private contributions and take the project to the next level. “We’re very thrilled to be part of this effort,” Doug Simons said. CMU President John Marshall said the theater was unlike any other facility in the region when it was constructed in 1968 and has been maintained since then. But a new facility is needed, he said, for the next 50 years. Work is under way to finish the design on the new theater, and demolition will occur after the fall semester, Marshall said. After two years of construction, a new theater is scheduled to open in 2024. The project will involve only the Robinson Theater, not the Moss Performing Arts Center. Mo LaMée, head of the theater arts department at CMU, and Darin Kamstra, head of the music department, said the new theater will be designed to accommodate a variety of theatrical and musical performances. See THEATER page 14
The Business Times
June 9-22, 2022
City of Grand Junction: Tax collections continue to trend upward in 2022 Tax collections, a measure of retail activity, continue to increase in Grand Junction. The City of Grand Junction reported collecting more than $5.6 million in sales taxes in April. That’s an increase of nearly $210,000 and 3.9 percent over the same month last year. April collections reflect March sales. Tax reports for May for the City of Grand Junction and Mesa County weren’t available as of press deadline. The city collected nearly $745,000 in its share of sales taxes collected in Mesa County. The city also collected more than $174,000 in April in use taxes, a smaller and more volatile revenue source. That’s more than double what was collected for the same month last year. Combined sales and use tax collections for April were 6.6 percent higher than the same month last year and higher than collections for that month going back to 2018. The city collected a total of more than $1.1 million in restricted sales and use taxes earmarked for public safety and first responders. Through the first five months of 2022, the City of Grand Junction collected a total of more than $24.3 million in sales and use taxes. Compared to the same span in 2021, sales tax collections increased 13.3 percent and use taxes collections rose 75.6 percent. Tax collections so far for 2022 outpaced the budget by 5.5 percent. The city collected a total of more than $4 million in restricted sales and use taxes for public safety and first responders. F
Collections also reflect increase in hospitality activity
Lodging tax collections, a measure of hotel and motel stays, continue to trend up in Grand Junction. The City of Grand Junction collected more than $411,000 in lodging tax collections in April. That’s an increase of nearly $188,000 and 84 percent over the same month last year. April collections reflect hotel and motel stays in March. Through the first five months of 2022, the City of Grand Junction collected almost $1.1 million in lodging taxes. That was an increase of more than $457,000 and 72 percent over the same span in 2021. The city imposes a 6 percent lodging tax and uses most of the collections to fund Visit Grand Junction, the city tourism and destination marketing organization. Under a measure city voters approved in 2018 to double the tax, the city shares lodging tax collections with the Grand Junction Regional Air Service Alliance and Greater Grand Junction Sports Commission. Through the first five months of 2022, the alliance received more than $185,000 and the commission nearly $139,000. F
GRAND JUNCTION TAX COLLECTIONS Sales tax Use tax Lodging tax
April 2021 $5,647,483 $174,124 $411,158
April 2022 $5,603,111 $80,524 $223,298
Change 3.9% 113.4% 84.1%
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June 9-22, 2022
Go Code: Grand Junction teams take top honors Teams from Grand Junction won four of the top six spots as well as prize money in the latest Go Code Colorado competition. The Health Cares team placed first in the analytics track, while WNV finished third. DevourCO captured second in the applications track and TrailFunds took third. In addition, the Health Cares and TrailFunds teams were selected from among the six finalists in the two tracks to win people’s choice awards. The Colorado Secretary of State Business Intelligence Center hosts the Go Code competition. Participating teams use public data to develop solutions that address issues. Teams in the analytics track created white papers and dashboards to turn data into conclusions that could be used to make decisions. Teams in the applications track designed functioning
applications to turn data into business solutions. The Health Cares team comprised of Maddie Vickers and Samuel Tufts analyzed the relationships between location variables and chronic illnesses across Colorado. “This was an incredible experience to work with data analysts from across Colorado and create feasible solutions to some of the problems we are facing in the health care industry,” said Vickers, a student at Colorado Mesa University who served as team leader. “It was thrilling to see so much hard work pay off.” WNV analyzed the West Nile Virus in Colorado. Jennifer Streetman joined with Monique Streetman and Dani Ould on DevourCO. “Our app connects Colorado’s local food producers to consumers who are passionate about food sustainability and quality,” Jennifer Streetman said. “We grow and
prepare amazing food on the Western Slope, and we want everyone to be able to find it. We will release our app for the public later this summer.” TrailFunds, a team of CMU students led by Bryan Wachs, created an app that enables trail users to give back to the organizations who maintain trails. Wachs is entrepreneur in residence at CMU and an executive of several companies, among them QuikR Stuff and My Sales Butler,com. TrailFunds plans to set up a B corporation at the Maverick Innovation Center at CMU to offer an entrepreneurial experience to students. The Colorado Plateau Mountain Bike Trail Association and other organizations plan to test the app to bring funding to collect funds for trail networks. F
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News, views Applicants and advice sought for you can use Springboard Subscribe today Fellowships
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Applications will be accepted through June 15 for a new program supporting first-generation students at Colorado Mesa University in Grand Junction and Fort Lewis College in Durango. “The Springboard Fellowship is a chance for CMU and FLC to create opportunities for graduates to thrive in the work force beyond college graduation,” said Charles Dukes, a member of the CMU Charles Dukes Board of Trustees who coordinates youth development opportunities as an educational strategist for the Wend Collective. “ The community of support graduates receive should not end when they graduate. Rather, it should ramp up even more to support the challenges they will encounter post-graduation,” Dukes said. The year-long Springboard Fellowship is designed to aid first-generation students during their senior year and after graduation. The fellowship will help students build social capital and develop skills to strengthen their professional networks. The program will include professional leadership training, private networking events and one-on-one mentoring from industry professionals. Participants will develop their communication and leadership skills while working alongside mentors and community leaders. Students will have opportunities to attend conferences and professional development workshops in Grand Junction, Denver and Washington, D.C. The program is free, and students won’t incur travel costs. The inaugural year for the program is scheduled to begin in September and conclude in June 2023 with a conference in Washington. Participants should plan on committing 8 to 10 hours a month toward the fellowship. By June 2023, participants will have developed the skills they’ll need to take on job interviews as well as networking events and presentations and ultimately experience success in their professional journeys. Students who complete the fellowship will receive a $5,000 award, which will go towards offsetting costs associated with starting a career, including transportation costs, relocation costs, purchasing business attire and living expenses. Rising seniors at CMU may apply for the Springboard Fellowship program at www.supportingcmu.com/springboardfellowship. Students at FLC may apply at fortlewis.edu/springboard. F
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Construction under way on Montrose medical facility Construction is under way on an outpatient medical center that will offer a range of health care services in Montrose. The Colorado Outdoors Medical Center will be located in the Colorado Outdoors economic development project, a 164-acre site along the Uncompahgre River that will include a mix of retail, industrial and residential. Scheduled to open in 2023, the 50,000-square-foot Colorado Outdoors Medical Center will offer outpatient services in imaging, gynecology, oncology, orthopedics and urology as well as urgent care. “The need for high-quality local health care has never been greater,” said David Dragoo, founder of the Colorado Outdoors project. “Today, the COMC is one step closer to bringing advanced health care and new jobs to the Montrose community.”
David Dragoo
Scott Nation
Dwayne Gunter
QHR Health, through its subsidiary Velocity Surgical Management, will build and operate the Colorado Outdoors Medical Center. “Velocity Surgical Management has the funding, technology, financial services, clinical partnerships and
physician support services to optimize the operations of the COMC’s outpatient services,” said Scott Nation, president of Velocity Surgical Management. The Colorado Outdoors Medical Center is expected to accommodate what’s projected as an increase in procedures and surgeries performed in an outpatient setting. “The COMC benefits the citizens of Montrose and the extended community by bringing high-quality, wellpaying jobs, multi-million dollar increases to the city’s tax base and additional economic activity, such as sales tax revenues and new residents,” said Dwayne Gunter, chief executive officer of QHR Health. “The COMC helps patients by keeping quality health care local, delivering medical services not currently available in the area and meeting the needs of Montrose’s growing population.” F
Girl Scouts plan open house event in Grand Junction
The Girl Scouts of Colorado office in Grand Junction has scheduled an event offering information about its programs and activities. The open house style event is set for 10 a.m. to 1 p.m. June 11 in the back yard of the office at 580 24 1/2 Road. The event will include activities in entrepreneurship, life skills and the outdoors as well as science, technology, engineering and match. Participants will experience what it’s like to be a Girl Scout. Leanna Clark, chief executive officer of Girl Scouts of Colorado, will attend to talk with girls and their families and hand out special patches. Families can register online to attend at https://forms.gle/QfX5BJLgDX4v3gYH8. Those who are unable to attend but would still like information about Girl Scouts also should fill out the RSVP link. A member of the staff will contact them. Information about Girl Scouts of Colorado also is available online at the website at www.girlscoutsofcolorado.org or by calling (877) 404-5708. F
School District 51 plans book giveaway
Mesa County School District 51 has scheduled its annual book giveaway event. The event is set for 8 a.m. to 2:30 p.m. June 17 and 18 in the gym at Grand Mesa Middle School, 585 31 1/2 Road in Grand Junction. The giveaway will include books and other materials for all grade levels that are no longer needed because they have been replaced by new curriculum or educators no longer need them. Participants are welcome to take as many books as they’d like. They’re encouraged to bring their own boxes and bags. Any books not given away are offered to educational staff in District 51 and other school districts or book buyers or recycled. F
June 9-22, 2022
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Applications due June 10 for Colorado pitch series
Applications will be accepted through midnight June 10 from businesses in rural areas of Colorado interested in receiving investment funding that will be awarded through the latest Greater Colorado Pitch Series. The third installment of the series will be conducted in conjunction with West Slope Startup Week in Grand Junction. The winners will be announced during an in-person and virtual finals event set for July 12. The Colorado Pitch Series will involve providers offering capital for companies in various stages of startup and development: n Pre-seed track of $10,000 to $50,000. n First Southwest Community Fund pre-seed track of $50,000 in low-interest debt. n Greater Colorado Venture Fund seed track of $250,000 to $500,000. n Greenline Ventures growth-stage debt of $250,000 up to $1 million. In addition, a Female Founder Award will support two female entrepreneurs — a $1,000 cash award from First Southwest Community Fund as well as $1,250 in cash and $1,250 in in-kind legal support from Venture Best. The event is open to Colorado companies located outside of the Front Range corridor from Fort Collins to Denver to Colorado Springs. There’s no charge for applications. The 2022 Greater Colorado Pitch Series will include a platform that will enable those attending live at the Avalon Theater in Grand Junction and virtually to engage in the event. Audience members can use an app to provide feedback on pitches and connect with founders and each other. West Slope Startup Week is set for July 11 to 15 with virtual events throughout rural Colorado as well as in-person events in Grand Junction. The free regional business conference follows the TechStars Startup Week format used in hundreds of communities around the world. Startup weeks offer participants professional business development and continued education as well as networking and opportunities to pitch for funding. The events offer information to everyone from serial entrepreneurs looking to launch their next projects to those considering starting businesses. Business owners and managers — including those in retailing and restaurants — learn about finance, human resources, marketing and other topics. For applications or more information about the Greater Colorado Pitch Series, visit www.greatercoloradopitchseries.com. For more about West Slope Startup Week, visit https://westslopestartupweek.com. F
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Theater
Continued from page 4 The Robinson Theater was originally constructed as a 600-seat theatre. Plans for the new theater are still in progress, but the venue likely will be designed as a lyric theater with full theatrical lighting and technical support. Capacity will increase to around 800 to 900 seats to allow for better visibility and acoustics. LaMée and Kamstra said the new venue will not only better serve theater and music students, but also offer hands-on experiences for students involved in such technical aspects of performances as lighting and sound as well as recording and event streaming. The new theater will be the only one of its kind between the Front Range of Colorado and Salt Lake City in Utah, enabling CMU to also bring in touring companies and expand offerings for the region. Doug Simons said the cultural events that will be staged at the rebuilt Robinson Theater will attract not only patrons of the arts, but also help in recruiting professionals considering relocating to the Grand Valley. Cultural amenities also play an important role in promoting economic development, he said. Marshall said three funding partners are involved in the project, including the state and CMU. “The last piece of the puzzle is our community.” F
Event benefits camp for kids with illnesses
An annual event raised $450,000 for the Roundup River Ranch in Gypsum and efforts to provide free programs there for children with serious illnesses. The Taste of Camp event on May 17 raised a record level of funding, said Ruth Johnson, president and chief executive officer of Roundup River Ranch. “Your generous contributions ensure the healing power of camp will continue to create lifechanging experiences for children with serious illness and their families, always free of charge. Without our generous sponsors, donors and volunteers, our programming would not be possible,” Johnson said. Corporate sponsors for the event included Alpine Bank, DaVita, Diamond Reserve, First Western Trust, Hyde Park Jewelers, Liberty Media, MDC Richmond American Homes Foundation and the Sturm Family Foundation. Located near Gypsum along the Colorado River, the Roundup River Ranch offers free, medically supported camp programs for children with serious illnesses and their families. Hundreds of children coping with blood disorders, cancers, organ transplants and other conditions participate in programs each year. For more information about Roundup River Ranch, call (970) 524-2267 or log on to visit https://roundupriverranch.org. F
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Grand Junction firms award finalists Control
Five Grand Junction-based firms are among the latest finalists for annual awards honoring fast-growing Colorado companies. Iron-IQ, Knott Laboratory, QuikRStuff, the Christi Reece Group and Timberline Trailers are among the finalists in the 2022 Colorado Companies to Watch program. A panel of volunteer judges will choose the 50 winners. The winners will be announced at an awards gala scheduled for June 17. The program honors so-called second-stage companies for their innovative products, unique processes and performance in the marketplace as well as their philanthropic efforts. To participate, firms must be privately held, headquartered in Colorado, employ the equivalent of six to 99 full-time employees and generate $750,000 to $50 million in annual sales or working capital. “To get this far in the process means that our finalists have been selected from over 1,000 Colorado second-stage companies nominated by CCTW’s vast community of supporters, partners and business peers,” said Kim Woodworth, chairwoman of the board of Colorado Companies to Watch.
“Through a time-honored rigorous judging process, our finalists represent the most innovative and accomplished second-stage companies,” Woodworth said. “Not only are they expanding and employing Colorado’s talent, but giving back significantly to nonprofits and charity organizations, supporting our vibrant economy. CCTW recognizes these companies for the crucial economic impact they make on Colorado’s economy.” Iron-IQ provides supervisory control and data acquisition software to help customers connect equipment, processes and people on the cloud. Knott Laboratory analyzes and reconstructs a variety of accidents and also uses a variety of technology to assess the condition of existing structures. QuikRStuf manufactures modular aluminum bicycle racks. The Christi Reece Group provides real estate services in the Grand Valley. Timberleaf Trailers builds custom teardrop trailers with sleeping quarters and rear galley kitchens. The company also was a finalist in the 2021 Colorado Companies to Watch program. F
Continued from page 2 Iron-IQ was created by the merger of an energy industry software company and SCADA provider, Ligrani says. The result was a firm offering expertise in software and SCADA technology. “We found a market fit.” The energy industry has long used remote monitoring and controls, but Iron-IQ offers in its Patch-IQ the latest generation of cloud-native software, he says. It’s a matter of helping the energy industry transition from older systems to Patch-IQ. The sector is among the early adopters of technology that makes operations safer and more efficient and environmentally responsible. Patch-IQ offers a number of benefits over legacy SCADA, he says, including lower costs. Some case studies found a 50 percent reduction in SCADA costs. Remote monitoring and control means employees don’t have to be dispatched as frequently to a site, in turn lowering labor costs. Moreover, the software can be easily scaled up and down as needed, he says. By operating in the cloud, the software is both easily accessible, but also more secure than older systems, Ligrani says. That makes companies less vulnerable to cyber attacks targeting infrastructure. An Iron-IQ team monitors the software around the clock, he says. “We take security extremely seriously.” In addition, cloud-native software doesn’t require customers to provide or maintain extensive hardware. While Iron-IQ customers operate mostly in the continental United States, the energy sector is global, Ligrani says. “The market is vast. We’re winning hearts and minds all over the industry, too.” To keep pace with growth, Ligrani says he expects to add 12 to 19 employees over the next year, increasing what’s now a staff of 27. Looking ahead, he envisions the same kind of software that serves the energy industry also can serve other industries, including the mining, water treatment and solar and wind energy sectors. That could promote additional growth for Iron-IQ and its operations in Mesa County, he says. F
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High school
Continued from page 2 The new school will house instructional programs for arts and humanities; business and entrepreneurship; engineering, technology and natural resources; and health sciences and human services. The school also will include a 1,500-seat performing arts center, the largest community facility of its kind between Denver and Salt Lake City.
June 9-22, 2022
Hill said he’s excited about the future. But the best way to predict the future, he said, is to invent it. MacKenzie Younker said the new high school demonstrates what happens when people come together. “This building isn’t just about Tiger pride, but Grand Valley pride.” F
Andrea Haitz, left, president of the Mesa County School District 51 Board of Education, speaks at a groundbreaking for the new Grand Junction High School. Above, students join in the celebration. (Business Times photos by Phil Castle)
News Trends Contributors Fewer deals, more dollars Opinion Business Briefs Business People Almanac
June 9-22, 2022
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INDICATORS AT A GLANCE
n Business filings
t New business filings in Colorado, 43,780 in the first quarter, down 2.1 percent from the first quarter of 2021.
n Confidence
t Consumer Confidence Index 106.4 for May, down 2.2. t Leeds Business Confidence Index for Colorado, 53.9 for the second quarter, down 4.1 n National Federation of Independent Business Small Business Optimism Index 93.2 for April, unchanged.
n Foreclosures s Foreclosure filings in Mesa County, 16 in May, up from 2 in May 2021. t Foreclosure sales in Mesa County, 0 in May, down from 2 in May 2021.
n Indexes
t Conference Board Employment Trends Index, 119.77 for May, down 0.83. t Conference Board Leading Economic Index 119.2 for April, down 0.3%. s Institute for Supply Management Purchasing Managers Index for manufacturing, 56.1% for May, up 0.7%.
n Lodging
s Lodging tax collections in Grand Junction, $411,158 for April, up 84.1% from April 2021.
n Real estate
t Real estate transactions in Mesa County, 520 in May, down 5.3% from May 2021. s Dollar volume of real estate transactions in Mesa County, $236 million in May, up 27.6% from May 2021.
n Sales
s Sales and use tax collections in Grand Junction, $6.6 million for April, up 6.6% from April 2021. s Sales and use tax collections in Mesa County, $4.5 million for April, up 4.6% from April 2021.
n Unemployment t Mesa County — 3.3% for April, down 0.6. t Colorado — 3.6% for April, down 0.1. n United States — 3.6% for May, unchanged.
Real estate trends diverge, but Mesa County market healthy overall Phil Castle
The Business Times
Even as rising interest rates on mortgages and seasonal slowing curtail real estate transactions in Mesa County, higher prices and big commercial deals push the collective dollar volume upward. While 2022 might not keep pace with a record-breaking 2021, the market remains strong overall, local industry observers say. “It’s still a healthy market,” said Robert Bray, chief executive officer of Bray & Co. Real Estate based in Grand Junction. Annette Young, administrator coordinator at Heritage Title Co. in Grand Junction, said the latest numbers constitute a case in point. “I think that was a pretty solid May.” Robert Bray Young said 520 real estate transactions worth a total of $236 million were reported in Mesa County for the month. Compared to May 2021, transactions declined 5.3 percent even as dollar volume surged 27.6 percent. Just 24 transactions accounted for a collective $43 million, Young said. That included the sale of one commercial office building on Horizon Court in Grand Junction for more than $6.3 million and another Annette Young building on Horizon Court for $3.1 million. A hotel on Horizon Drive sold for $5 million. Through the first five months of 2022, 2,195 transactions worth an accumulative $940 million were reported. Compared to the same span in 2021, transactions fell 8 percent and dollar volume rose 16.5 percent. Ninety-one transactions in 2022 accounted for a total of $180 million, Young said. According to numbers Bray & Co. tracks for the residential real estate market in Mesa County, 322 transactions worth a total of nearly $139 million were reported in May. Compared to the same month a year ago, transactions retreated 10.3 percent and dollar volume advanced 3 percent.
For the first five months of 2022, 1,424 residential transactions worth a total of more than $594 million were reported. Compared to the same span in 2021, transactions dropped 11.3 percent and dollar volume climbed 5 percent. Bray said rising interest rates on mortgages have affected transactions. The difference would be more profound, he said, except nearly half of transactions involved cash rather than financing. Moreover, some seasonality has returned to the Mesa County market, he said. May closings reflect transactions in March and April and what’s usually a slower time of year. Fewer sales helped bolster inventory. At the end of May, there were 365 active listings. That’s up 68.2 percent over the same time a year ago. That means more selection for buyers, Bray said. Prices continue to rise, however. The medium price of homes sold during the first five months of 2022 climbed to $380,000 up 19.1 percent from the same span in 2021. Given the prospect of even higher interest rates affecting the ability of some buyers to obtain financing, Bray said he expects residential activity to continue to slow. Prices will continue to rise, but at slower pace, he said. Commercial activity typically lags behind residential activity and likely will remain strong, Bray said. Meanwhile property foreclosure filings continue to increase in Mesa County. Young said 16 foreclosure filings were reported in May, bringing to 120 the filings through the first five months of 2022. In contrast, there were eight filings during the same span last year. Filings have increased since the forbearance imposed as a result of the COVID-19 pandemic ended, she said. A lot of those filings will be withdrawn, however, as owners with equity sell before the foreclosure process is completed, she said. The four resales of foreclosed property during the first five months of 2022 constituted less than 1 percent of all transactions, below the 10 percent threshold Young considers indicative of a healthy real estate market. F
Consumer Confidence Index retreats A measure of consumer confidence has retreated on less upbeat assessments of business and labor conditions. The Conference Board reported its Consumer Confidence Index fell to 106.4 in May, down from a revised 108.6 in April. Components of the index tracking current conditions and the short-term outlook declined. Lynn Franco, senior director of economic indicators at the Conference Board, said consumers don’t foresee the United States economy improving in the months ahead. “They do expect labor market conditions Lynn Franco to remain relatively strong, which should continue to support confidence in the short run.” Consumers also said they were less likely to purchase such big-ticket items as homes, cars and major appliances as well as go on vacations. Inflation and rising interest rates remain concerns, Franco said. “Looking ahead, expect surging prices and additional interest rate hikes to pose continued downside risks to consumer spending this year.” The Conference Board bases its Consumer Confidence Index on the results of monthly household surveys. Economists monitor the index because consumer spending accounts for more than two-thirds of economic activity.
For May, less upbeat assessments of current business and labor conditions pulled the present situation component of the index down 3.3 points to 149.6. The proportion of consumers responding to the survey upon which the May index was based who described business conditions as “good” rose three-tenths of a point to 21.1 percent. The share of those who said conditions were “bad” fell 1.5 points to 20.7 percent. The proportion of consumers who said jobs were “plentiful” declined three points to 51.8 percent. The share of those who said jobs were “hard to get” advanced 2.4 points to 12.5 percent. Less upbeat outlooks pulled the expectations component of the index down 1.5 points to 77.5. The share of consumers who said they expect business conditions to improve over the next six months fell nine-tenths of a point to 17.7 percent. The proportion who said they anticipated worsening conditions rose 3.2 points to 24.9 percent. The share of consumers who said they expect more jobs to become available edged up a tenth of a point to 18.5 percent. The proportion of those anticipating fewer jobs fell 1.1 points to 18.7 percent. While 19 percent of consumers said they expect their incomes will increase, up 1.2 points, another 14.5 percent said they expect their incomes to decrease, up 1.3 points. F
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U.S. payrolls up, jobless rate steady United States payrolls increased 390,000 in May as the national unemployment rate held steady at 3.6 percent for a third consecutive month, according to the latest U.S. Bureau of Labor Statistics estimates. Estimated payroll gains for the previous two months were revised downward a total of 22,000 to 436,000 in April and 398,000 in March. Nonfarm payrolls remained 822,000 below February 2020 levels and the onset of the COVID-19 pandemic in the U.S. For May, 6 million people were counted among those unsuccessfully looking for work. Of those, 1.4 million have been out of work 27 weeks or longer. Another 4.3 million people were counted among those working part-time because their hours were cut or they were unable to find full-time positions.
The labor participation rate — the share of the population working or looking for work — edged up a tenth of a point to 62.3 percent. Payroll gains for May were spread out among industry sectors. Employment increased 84,000 in leisure and hospitality, 75,000 in professional and business services, 47,000 in transportation and warehousing and 36,000 in construction. The average workweek for employees on private, nonfarm payrolls remained unchanged at 34.6 hours for a third straight month. The average manufacturing workweek slipped a tenth of an hour to 40.4 hours. Average hourly earnings for employees on private, nonfarm payrolls rose 10 cents to $31.95. Over the past year, hourly wages have increased 5.2 percent. F
June 9-22, 2022
Labor index slips
An index tracking labor trends in the United States has slipped, but continues to forecast job growth. The Conference Board reported its Employment Trends Index fell more than eight-tenths of a point to 119.77 in May with declines in four of eight components. Agron Nicaj, associate economist at the Conference Board, said several sectors have yet to recover job losses incurred since the pandemic, leaving room for additional growth. F
Trends Contributors Opinion Labor INFO available Business Briefs Business People Almanac
June 9-22, 2022
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COMING ATTRACTIONS
n The Business Incubator Center in Grand Junction has scheduled presentations on marketing and bookkeeping. A presentation on marketing foundations is set for 6 to 7:30 p.m. June 14 at the center, located at 2591 Legacy Way. David Mason, owner of the Best Slope Designs website design and development firm in Grand Junction, will discuss proven frameworks that lead to more customers and sales. Admission is $35. Upcoming meetings of the Coffee Club networking group are set for 9 to 10 a.m. June 17, July 15 and Aug. 19 at the FWorks coworking space, 325 E. Aspen Ave. in Fruita. There’s no admission to attend. A free Finance Friday webinar is set for 2:30 to 3:30 p.m. June 24. The next bookkeeping boot camp is set for 9 a.m. to 2 p.m. June 28 at the center. Participants will learn how to set up and track business accounting records and gain more control over their businesses by learning what balance sheets, cash flow projections and income statements tell them about their operations. Admission is $75, which includes lunch. 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 Mesa County Libraries has scheduled a free customer service training. Two trainings are set: 5:30 to 7:30 p.m. June 13 and 9:30 to 11 a.m. June 16 at the central library at 443 N. Sixth St. in Grand Junction. Registration is encouraged. To register or obtain more information, call 243-4442 or visit https://mesacountylibraires.org. n The Western Colorado Human Resource Association has scheduled a monthly membership luncheon meeting and economic update for 11:30 a.m. to 1 p.m. June 15 at the Mesa County Workforce Center located at 512 29 1/2 Road in Grand Junction. Nathan Perry, an economics professor at Colorado Mesa University, will discuss factors affecting businesses and employment. n The Grand Junction Area Chamber of Commerce has scheduled its next quarterly membership luncheon meeting for June 20. The meeting is set for noon to 1:30 p.m. at the Colorado Mesa University Center south ballroom and will feature Loren Furman, president and chief executive officer of the Colorado Chamber of Commerce. Admission is $25 for chamber members, $30 for others. To register for or obtain more information about chamber events, call 242-3214 or log on to https://gjchamber.org. n A Grand Valley BizMix networking event is set for 5:30 to 7 p.m. July 26 at the Bank of Colorado location at 2452 Patterson Road in Grand Junction. The event is open to members of the Grand Junction, Palisade and Western Colorado Latino chambers of commerce and Young Professionals of Mesa County.
Opinions offer guidance on Colorado laws and regulations Not long before the COVID-19 pandemic occupied employers’ time and attention, the Colorado Department of Labor and Employment began issuing interpretive notices and formal opinions — INFOs — providing guidance on employment laws and regulations. INFOs offer the most detailed guidance issued by the CDLE in recent memory. Employers who don’t review these notices are missing a lot of information on the laws and regulations the CDLE enforces. INFOs aren’t binding law, but provide approved opinions and notices to employers, employees and other stakeholders as to how the department Dean interprets and applies various statutes and rules. While Colorado courts Harris aren’t bound to follow INFOs, they’ll afford these opinions deference in legal proceedings. You can find all of the INFOs online at https://cdle.colorado.gov/infos. In just the last few months, new INFOs have addressed issues with which employers have wrestled. Here’s a look at three. n The payment of earned but unused vacation upon termination (INFO 14). The Colorado Supreme Court ruled in Nieto v. Clark’s Market that vacation policies allowing the forfeiture of unused vacation time are illegal. Consequently, “use it or lose it” vacation policies are no longer allowed, and employers must pay all accrued but unused vacation when an employee separates employment. In wage protection rule 2.17, the CDLE extended this requirement to paid time off and any “pay for leave, regardless of its label, that is usable at the employee’s discretion.” What about other types of leave? INFO 14 explains that “personal days” available for any occasion are considered vacation time. But personal days employees can use for only specified personal needs — holidays when the company is open, health or family needs or bereavement isn’t vacation time and need not be paid upon separation. Further, the CDLE clarified that employers offering unlimited PTO or vacation plans ordinarily don’t need to pay out leave upon separation because time off never becomes determinable. But a plan limiting how much leave can be used is not really unlimited because the amount can be determined. n The Colorado Labor Peace Act (INFO 15). Most private employers are covered by the National Labor Relations Act. The Labor Peace act extends labor relations rights to some employers not covered by the NLRA, including agricultural workers and mass transportation systems. In addition, the Colorado Partnership for Quality Jobs and Services Act created a collective bargaining process for the State of Colorado and its covered employees. INFO 15 discusses the rights of these workers to whom Colorado law extends protections and outlines the procedures covered employers should follow for union elections and labor practices. n Payroll deductions (INFO 16). The Colorado Wage Act prohibits deductions from wages except in narrowly prescribed situations. INFO 16 discusses situations employers commonly face. First, the INFO prohibits skirting deduction restrictions by passing
INFOs aren’t binding law, but provide approved opinions and notices to employers, employees and other stakeholders as to how the Colorado Department of Labor and Employment interprets and applies various statutes and rules. the cost of doing business to employees. This prohibition includes “[e]xpenses considered to be for an employer’s benefit or convenience include tools or other items an employee needs to perform the work, other things the employee is authorized by the employer to purchase for work, property damage and bills not paid by customers or clients.” Nor may employers require employees to pay for or provide any required uniform or special apparel, require deposits from employees or deduct for ordinary wear and tear. Second, the INFO clarifies that an employer may deduct for the value of money or property it entrusts to an employee the employee doesn’t return. As with most deductions, the employee must authorize the deduction in writing. But the employee may deduct only the fair market value of the entrusted property. In the CDLE’s example, an employee didn’t return keys to the business. The employer deducted from final pay the cost of the locksmith’s service call to rekey the locks and provide a new set of keys. This deduction is impermissible because the employer only entrusted the original keys to the employer. Thus, the employer can deduct only the cost of the replacement keys. Finally, the CDLE clarified how employers should treat wage overpayments. The employer should notify the employee in writing it will make deductions to recoup the overpayment, including the amount and manner in which it will be deducted; take the deduction from future pay periods, not from the pay period in which it provides notice; and the employee agrees to the deduction. But INFO 16 provides the employee may agree expressly to the deduction in writing or by continuing to work in the deduction pay period. While it appears the deductions might reduce pay below the minimum wage in violation of the Colorado Wage Act, the CDLE explained that because additional wages have already been paid, the employee’s compensation, with the overpayment made in advance of the deduction pay period, isn’t below the minimum wage. Future topics for INFOs are up to Colorado employers. If you have a topic related to laws and regulations administered by the CDLE, email the CDLE Division of Labor Standards and Statistics at cdle_labor_standards@ state.co.us. Consulting and enterprise members of the Employers Council may call the council to discuss applying INFOs to workplace scenarios. Dean Harris is the Western Slope Area managing attorney for the Employers Council. The Employers Council counsels, represents and trains member employers in all phases of employment relationships. Contact Harris at dharris@employerscouncil.org or (970) 852-0190. F
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Hire intelligently, then develop your team Are you interested in greater efficiency and productivity? Would you like to reduce costly turnover along with errors and interruptions? Do you want your operation to become more successful so you can derive more joy from owning and running a business? If you want your experience as a business owner to be more enjoyable and rewarding — and your company to be more successful — it’s imperative you build and maintain a dynamic and empowered team. You must put motivated and skilled individuals with positive attitudes in place and then help them develop and realize more of their potential. The first step and most effective Marcus way to build a competent, motivated Straub and engaged team is to hire intelligently. The typical path to hiring, however, is filled with biased or incorrect information and involves assumptions and guesswork. This often leads to poor hires. Assembling a team of skilled, solution-oriented and motivated people is far more difficult without the reliable data needed to do so. This is where candidate assessments come in. When this approach is used, productivity rises by an astonishing 30 percent and retention goes up by a welcome 50 percent. Productivity rises because a team member’s behaviors, core values and competencies align with the duties, responsibilities and rewards of the job. Retention increases because there’s symmetry among the new hire, job and company values. How effective is your hiring process? The second component of building and maintaining a powerful team depends on professional development. Like the first step, this next one is best accomplished with the
You have a wonderful opportunity to help your team members find and develop their strengths and come alive as engaged players in your business.
help of a trained professional who will work with you, your managers and team members to develop top performers. The objective here is to help everyone become empowered so they, your clients and business will experience more happiness, fulfillment and success. Do you provide team members with the professional development they need to become their best? People thrive when they’re praised for a job well done. Recognizing team members’ solid efforts and working with them in constructive ways to continue reaching for higher levels of excellence promotes self-esteem and competency. When people believe in themselves, it’s amazing what they can accomplish. How are you doing with this third component of building and maintaining a powerful team? One of the surest ways to damage a business from within is to hire ineffectively, neglect continued learning and growth and undermine team members and their efforts. This last aspect comes about through unconstructive criticism, blame, lack of follow through, ineffective communication and simply not appreciating those individuals who make up the company. These behaviors undermine self-esteem and confidence and in turn the culture of the business and credibility of leadership. Empowering owners, managers and team members to become top performers offers an effective solution to
many of the common problems experienced in business. As team members develop their unique skills, the business runs more efficiently and effectively, the atmosphere grows more positive, turnover goes down, attendance goes up, client satisfaction increases and the bottom line improves. Does this sound like the type of business you want to own? If you find yourself at a loss for how to accomplish this, explore your options and choose the coach or consultant best suited for you. There’s strength in engaging and using quality professional help. In doing so, you’ll sidestep many common errors that are costly and time consuming as well as provide a powerful example for your team members to follow. You have a wonderful opportunity to help your team members find and develop their strengths and come alive as engaged players in your business. Bring in a qualified coach or consultant, use candidate assessments and consistently offer quality development opportunities and well-deserved praise and recognition. Work with your people to become top performers, and your well-chosen team will help you reach new heights in your business operations. 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 208-3150, marcus@ligcoaching.com or through the website located at www.ligcoaching.com. F
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With business loans, there’s no time like the present A fellow business owner mentioned she got a small business loan. You’re looking for financing, so you ask her what lender she went to and call to make an appointment. Getting a loan should be simple, right? Maybe not. According to Spencer Vivian, a relationship banker with Vectra Bank in Grand Junction, you might have just broken one of the cardinal rules of getting a loan: Start where you have an established banking relationship. Ideally, you should have at least a two-year personal or business account history with the bank where you seek financing. “General underwriting guidelines Janet require being in business for two years Arrowood for conventional lending, similar to getting a mortgage as a self-employed individual. However, it’s not necessarily required to have a relationship with the bank for two years to get a loan with that bank,” Vivian said. “While it does typically help to have the relationship, it is not required.” What do you need to get started once you’ve met the relationship threshold? Some of the paperwork you should gather before meeting with your banker includes: n Lending and payment history, such as your home loan. n Two years of personal — and business, if applicable — tax returns. n Three months of business and personal bank statements and account balances. n Profit and loss statements. Why would a small business want a loan in the first place? Maybe you don’t need or want a loan or line of credit (LOC) right now, but things can change in a flash. As Vivian put it: “The best time to get a loan or LOC is
before you need it.” Access to a loan or LOC becomes a business safety net. If you need money in a hurry, you might be out of luck if you don’t plan for that possibility. Many business owners think about loan programs backed by the U.S. Small Business Administration. The SBA doesn’t make direct loans. By guaranteeing repayment of a portion of the loans, the federal agency enables lenders to extend financing to businesses that might not qualify under conventional terms. Here’s some of the criteria you’ll need to meet to obtain SBA-backed financing: n A history in the industry your business serves. This could be your work experience, business experience or a combination of the two. If you hire key people with relevant experience, that could count. n A detailed business plan. n Key employees with experience in your industry and a record of success. n A two-year projection of sales and net — not just gross — income. n An approach that satisfies the lender you’re realistic and have done your homework. Allow for three months to gather and prepare information and another three months for the lender to process your loan application and supporting information for the SBA. Then allow several more months for the SBA to do its part. Why are business loan and LOC applications turned down? The reasons aren’t much different than when you get turned down for a credit card, auto loan or mortgage: n Your personal and business credit aren’t satisfactory. n You don’t have at least 10 percent to put down on a loan. n You’re new to the business and have no track record. n You don’t assemble a complete application package
with all the required supporting documentation. n You show little or no net income even though your gross income is adequate. You’re writing off too much. What can you do before applying for a loan or LOC to increase your odds of acceptance? Check your personal credit score and see if there are actions you can take to improve it. Check your Dun & Bradstreet listing and pay attention to your FICO Small Business Scoring Service score. The range is 0 to 300, and lenders generally want at least a 165. SBA-based loans might allow a slightly lower score, but don’t count on it. Getting — and managing — a business credit card is a key element in improving your FICO SBSS score. If you seek a larger loan — to acquire real estate, for example — how much money you have available to put down could drive the process. Matt Burgess, a business banker with Vectra Bank in Grand Junction, said at least a 10 percent down payment is required for SBA-backed loans. That proportion increases to at least 20 percent for traditional financing. No matter what type of financing you seek — traditional business loan, lines of credit, SBA-backed loans or real estate loans — keep your personal financial house in order. When you first seek financing and even when your business has been around for decades, lenders want personal guarantees. 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. Reach her at janet.arrowood@thewritesourceinc.com. For more information, log on to www.TheWriteSourceInc.com. F
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Selling a business should involve a team effort Selling a business is no small undertaking and should involve the assistance of your financial and legal team. The structure of your sale could have significant effects on your tax liability. Here are some steps to consider in selling a business, particularly a business structured as an S corporation. A fair sales price could be calculated with the assistance of a certified valuation analyst (CVA) or someone accredited in business valuation (ABV). They’ll use one or more of three approaches: n An asset-based approach calculates the value of each asset and Paige liability. This approach is useful for Curtiss businesses with investment holdings, are asset intensive, undergoing liquidation or for those with non-operating assets. n A market approach calculates the value of a business based on the value of stock in comparable companies. n An income approach calculates value by capitalizing cash flows or discounting expected future earnings. This is generally considered the best estimate for a business as a going concern because it considers future cash flows associated with business assets. Although you have options in determining how to value your business, a CVA or ABV offers the best way to ensure the value is accurate and reasonable. There are other options to determine a sales price, among them the amount a willing buyer and seller agree upon or various earnings multiples by industry. If you aren’t able to sell at your desired price, explore such other options as working as an employee of the business after the sale to supplement income.
When you get serious about selling your business, it’s important to engage a lawyer, certified public accountant, certified valuation analyst or someone accredited in business valuation to assist you through the process. They’ll provide personalized advice and ensure important considerations aren’t overlooked.
The next step is finding a buyer. This step isn’t necessary if you have an individual close to you who’ll buy the business, such as a family member, friend or employee. If that’s not an option, you could engage a broker to list your business for sale at a cost of typically 5 percent to 10 percent of the sales price. Brokers have access to networks to locate buyers and could help buyers with financing options. As an S corporation seller, you have a couple of ways to structure the sale: n Sale of stock offers the most advantageous structure from a tax standpoint. This structure results in the associated gains taxed at capital gains rates. If you’re in a 37 percent ordinary income tax bracket, pushing income to a 20 percent capital gains bracket can result in significant savings. Unfortunately, most buyers won’t agree to purchase stock because this entails purchasing the business in its entirety. Buyers are wary of potential unrecorded liabilities and the unavailability of future
deductions through depreciation and amortization that an asset sale allows. n Under the more common sale of assets, the buyer is treated as purchasing all business assets. The buyer usually starts a new entity to hold the assets. The seller is likely left with an empty shell company to shut down after liabilities have been addressed. As the seller, your goal is to maximize the purchase price allocation to goodwill, because it’s not subject to ordinary income recapture. This will be a negotiating point since the buyer has the opposite goal: assign as much purchase price to equipment, which has a shorter depreciable life. n The installment method is available under both the stock and asset sale methods. Under this method, the seller acts as a lender to the buyer. This method is tax advantageous as the seller recognizes only payments they collect for the year as income. This could prevent the seller from bumping into the highest tax bracket in the year of sale. Note, however, that gains must be recognized in the year of sale to the extent there is depreciation recapture under the asset sale method. When you get serious about selling your business, it’s important to engage a lawyer, certified public accountant, CVA or ABV to assist you through the process. They’ll provide personalized advice and ensure important considerations aren’t overlooked. Paige Curtiss is a certified public accountant and senior accountant with the tax team at Dalby, Wendland and Co. in Grand Junction. Curtiss helps businesses and individuals with income tax preparations. She’s a member of the American Institute of CPAs and Colorado Society of CPAs. For more information about Dalby, Wendland and Co., call 243-1921 or visit the website located at www.DalbyCPA.com. F
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Connections help improve employee health We know good health doesn’t start in the doctor’s office. It begins where our employees live their lives and how they connect to their communities. Research shows people with more social support and less isolation live longer and healthier lives. Think about your employees outside of work. Do they attend a church? Play in an adult recreation league? Volunteer at their children’s school? Mesa County Public Health took a close look at social connections and community engagement in the most recent community health needs Alli Howe assessment. Our team looked at the number of churches, farmers markets, gyms, libraries, parks, recreation centers, schools, senior centers and sports fields across the county to understand social connections. We learned these social resources aren’t evenly distributed, and some people could struggle with transportation to participate. To assess community engagement, our team looked at such activities as volunteering and voting. The results from the needs assessment help health care, non-profit and government agencies make improvements. Mesa County government is working on improving social connections. Over the past 18 months, Mesa County leaders held community meetings to inform residents
Research shows people with more social support and less isolation live longer and healthier lives.
about the community halls project. The project is intended to promote civic pride, social interaction and volunteerism. Plans are in the works to build community halls in Clifton, De Beque, the Loma and Mack area and Whitewater. The Clifton project involves a collaboration among Mesa County, Mesa County Public Health, Mesa County Libraries and the Mesa County Partnership for Children and Families. Groundbreaking is expected this fall, and amenities will include a town hall for events, child care center and library. This project was directed and enhanced by community input. County government is a big part of your employees’ lives. Mesa County maintains the roads they take to get to work and trails they use with their families after work. An upcoming county community survey is an important and convenient way for your staff to engage in the community. The survey takes about 15 minutes to complete and asks questions about customer service with county services, quality of life and issues citizens want the county to address. Every household in the county will
receive a postcard with information about the survey. It will be available in English and Spanish. Mobile and desktop versions of the survey will be offered as will a paper version for those who request it. County leaders will use survey results to inform budgeting and planning and set priorities. Mesa County Public Health will use the information about outdoor recreation, quality of life and social connections to support community initiatives to help every Mesa County resident thrive. There are simple ways to support your employees as they build connections and engage in the community: n Encourage them to take the county community survey. n Share new posts from Mesa County, available at blog.mesacounty.us. n Allow for flexible scheduling to attend community events. n Provide opportunities for volunteering. n Organize a company sports team through Fruita, Grand Junction or Palisade recreation. n Regularly share information about the free and low-cost events offered in the community. Alli Howe is communication and marketing manager at Mesa County Public Health. For more information, call 248-6900 or visit https://health.mesacounty.us. F
Technology based enrollment comes with pros and cons The enrollment period can be a daunting time for both employers and employees. It’s a lot of work for companies and can be confusing for workers. If, for example, you have 500 employees and offer 10 benefit plans with several documents associated with each plan, you might have to sift through as many as 20,000 documents during open enrollment. By using technology based enrollment, however, you could save time and money and make the process more efficient and user-friendly for Ed Krey your employees and human resource department. Here’s a look at some of the advantages and disadvantages of technology based enrollment. First, the advantages: n Every step of the benefits management process is automated, eliminating the need for paper-based processes and improving efficiency and accuracy. n Online enrollment lowers the overall cost of providing services to your employees by eliminating the costs of
distributing and collecting paper enrollment packets. n Online enrollment shortens the enrollment cycle. n Online enrollment enables employees to self-enroll in benefit programs, review their benefit data and report life event changes. n Employees can choose plans based on eligibility criteria and compare costs and coverage of previous elections against new offerings. n Elections can be automatically applied to employee records. n Employees receive written confirmations detailing their elections. n Employees can easily view and update their records and plans. n HR can check the status of enrollment in real time and could be able to generate detailed reports regarding the cost of employee benefits. Now, some of the disadvantages: n Employees could be intimidated by the software and prefer personal assistance rather than making their selections on a computer. n Employees might not make informed benefit decisions if they’re only advised through the computer and
not provided personalized recommendations. My recommendations: n Introduce new enrollment software and train employees before open enrollment begins. Use various communication mediums for initial alerts concerning open enrollment to prepare employees for the process. n Use existing resources to promote technology based enrollment, including your company’s intranet, bulletin board postings and newsletter. n Encourage management to promote the use of technology based enrollment to increase employee buy-in. n Establish online communities or blogs where employees can discuss successes and problems they encounter while enrolling. That way, they can assist one another with the process and HR can address any problems employees experience. Ed Krey is the owner and an HR consultant with Lighthouse HR Support in Grand Junction. The firm provides a range of resources spanning the employment process. For more information, call 243-7789 or visit the website located at www.lighthousehrs.net. F
Contributors Opinion Bold predictions for 2015this, It was gonna be about Listen up: Advice on how A new year Business affords more Briefs like it’s not-so-bold repeats but now about that ... to engage like a journalist a new opportunity Business People Almanac to meet local needs THE he B BUSINESS usiness T T Times IMES
PPAGE age 26 22
I like to believe I bring some skills to the conversations and other interactions in which I engage. If not skills, then at least experience. As a professional journalist, I’ve spent two-thirds of my nearly 63 years on the planet getting paid to talk to people and listenalways — really listenan—opportunity to what theyfor tellame. That’s lot of A new year almost brings fresh starta and While it hasn’t necessarily made me a perfect interviewer renewed ambition topractice. do things better. conversationalist, it’s made me better one. products In business, thatorusually boils downI’dtoassert providing customers better There’s a lot of advice out there about how to howmust to and services faster and at lower cost than competitors. Part of the process develop better relationships. really connect include listening to customers to determine whatTo they actually needwith andpeople. then I can’t of alittle moregood crucial ability, thatand applies to if meeting that need. After all,think it does to offer theone latest greatest nearly aspect of life. It’s especially crucial in business. nobody actually wants whatevery you’re selling. Considerthat what goes to into andJunction services. Just like the businesses belong theselling group,products the Grand Area Obtaining financing from lenders or investors. Or, for that,of Chamber of Commerce invariably starts out the new year with a reassessment Phil Castle matter, getting along with coworkers and bosses. As much the services and resources it provides and how well they match with members remainsofa the matter of money, about needs. Jeff Franklin,as thebusiness new chairman chamber boardit’s of also directors, relationships. prefer do business those theyhis know, andcoming like. personifies thisPeople approach in to describing whatwith he considers role trust for the I’m no expert in interpersonal relationships. I don’t even play one on TV. year: listen to members, determine their needs and then meet those needs. It’s a I’m to bet, though,is some of what I’ve learned over my career applies to role willing with which Franklin familiar as market president of Bank of Colorado. business situations. next youstructured face a business interaction — achamber meeting, The process willThe take on time a more approach in what the networking or other engage like a journalist. plans as the event resumption of encounter a program— aptly called Listening to Business. Under the n Bebusiness prepared.owners I neverparticipate go into anininterview firsttoconducting as much program, in-depth without interviews identify barriers to background research as time allows and then planning not only the questions growth and other problems they encounter. I’ll pose, but also Think what want toclub. talk about. Think The new yeartheir offersorder. a good timeabout to join the you proverbial aboutAswhat you to askorfor and the reasons why. Although got a script an advertiser reader, what do you need from theI’ve Business Times?of sorts,While I don’t necessarily sticktraditionally to it. Remain flexible to steer in anews different business journals gather andenough report the relevant to direction and discover where that takes you. I conclude interviews by askingtrue if as readers, communication isn’t necessarily a one-way street. That’s especially there’s a good question I DIDN’t pose. This an opportunity Web sites and e-mail make the dialogue moreaffords convenient than ever. to bring up otherGood and perhaps even don’t more exist important information. publications in a vacuum. They respond to the needs of n Demonstrate yourThey interest. Thiswhat’s mightneeded. be easier for me than others because advertisers and readers. provide I really in the people I interview. They’ve got information I want to So am whatinterested do you need? learn.IsThat extends though. is a subject thereattribute additional news beyond coveragenews that sources, would help keep Everyone you informed about matter expert on something. They’ve got fascinating information they'd local business developments? Are there features that would be interestinglove or to relate only someone ask them. a shared passion that useful?if Is there advice would that would make You yourmight jobs adiscover little easier? couldIt’s serve as the beginning of beautiful equally important to ask what youfriendship. don’t need. With limited time to n Pose the right questions. I’mininterested in finding nottime onlyand the space who, be produce content and limited space which to publish it, out would what, when and where, but also the how and especially the why. Ask what better devoted to something else? motivates chances goodneeded? you’ll gain What’speople good?and What isn’t? are What’s Whatdeeper isn’t? insights that could proveLet valuable to Send your relationships and professionally. us know. us an e-mail. personally Comment online on the Business Times Web n www.thebusinesstimes.com. Listen carefully. My work asYou a journalist haswrite trained me to listen toletter what to site at could even an old-fashioned people tellifme — not next opportunity interject mynegative, thoughts.is Practice the editor you’d like.the Your feedback, bothtopositive and valued and listening as if you’d have to subsequently write a story about what you learned. will be carefully considered. There are differences course. But Good publications are between the resultjournalism of not onlyand thebusiness, efforts ofoftheir staffs, butthere also are also similiarities — and opportunities to profit from engaging like a journalist. collaborative efforts involving advertisers and readers. Like any other good business, we want to listen to our customers, find out Phil is editor of the Business Times. Reach him at 424-5133 or whatCastle they need and then meet those needs. phil@thebusinesstimes.com. It’s a new year. Please help us to do so. 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.
As newspaper owner and columnist, It’s athat time of year when Iresolutions live by oneand ruleprognostications when it comes to my abound. keystroke-related contributions to the My favorite saying applied to New Year’s Business Times. write about on a resolutions is in Isaying they’rewhat’s basically my mind and heart to when I wake up on bunch of promises break the first week deadline Tuesdays. of January. And while I won’t predict a Aslot, embarrassing whole I can pretty much accurately as to admit andwithout question nailit aisfew things—that to some of the mynews. “fans,” will make You will see these are I’m sure it’s predictable: more pretty, well, than ■ just embarrassing Prediction one: — it’s will really There bethat some straightforward. sort of weather event, Given how or badly natural disaster the government, heinous occurrence bureaucracy andwill where someone elected “leaders” be interviewed andhave say screwed things“I’ve up, it’s Craig Hall the following: also simplest way neverthe seen anything for likeme thattoinaim myjust one shot instead of the available at the myriad gilled, lifetime.” fusillade It’s as if this aquatic vertebrates cylinder Hall of life. person is a requiredin theCraig That’s how I news do it. I get up and write attendee at every what’s on event. my mind. ButI understand oddly, not today. reporting While most Ipeople’s think that’s becausecan I had my nose perspective indeed be limited pressed against the aquarian to the by, or contained within, their barrel own personal point of seeing all those fish scurrying experiences, it is too much to ask to about a school trying to avoid the consultlike some historical perspective before mega heading them. can sayingpredator such a thing? Yes,towards this response Yes, literally in applythere’s to some events.that Butmuch whenwrong it comes our countryand today. Anddisasters, yes, 99 percent of to weather natural I’m pretty the things outside our control are brought sure this is simply history repeating itself. to us by Same as government. it has for millions and millions of That’s topic too big address years. Moreaimportant, thetoplanet made it! with few hundred words. Besides, the Whatadidn’t were certain species. How’s headline I was going to write for this that for perspective? column — “If thistwo: is how it is, that’s how ■ Prediction When it comes to a they it” — wasthat summarized by crimewant or something occurs between Charley in the Orlando Sentinel humans, Reese the other required attendee at all back 1984. That column the news in reporting events is the featured person who headline “545 people are responsible says this: “They we’re just the nicest for the mess, but unite common people, and inthey no way didinI asee something con.” I urge you toExactly. look it No up or like this coming.” oneassume does it willoffind way to your Facebook page most theits time when it comes to over time.and It did mine, whichPeople was toshould me neighbors acquaintances. like a message from goes God on saying topic be surprised at what fromthe time to has covered. Actually, I’d useand the timebeen in their neighborhoods, towns number 546,they because presidents with people knowvice because peopleare are just slimy thetimes otherthat 545. good.asAnd forasthe they shouldn’t So I needed towith focuspoliticians, elsewhere.repeat be shocked — like Ironically, more inspiration came from offenders and terrorists — where’s the Facebook. Butsays, this “This time with a little interview that doesn’t surprise admonition in my REM cycle telling me me in the least.” to be■more uplifting in the face of all the Prediction three: Something good insanity andeconomically, division in our will happen andworld the today. Rest assured.will Like most things government take credit for it.with The most Facebook, it begins insanity recent example is gaswith prices, whereand people division. And nothing sews and ask me why I won’t credit thedivision president for insanity on oneMy sideanswer of theisaisle like the low gas prices. simple: Second Amendment. Government never makes the price of As many already I have something go down andknow, simply takesacredit certain clubGas in town that to to smear for goodfan news. pricing is likes subject me personally whenever topics many global factors. Now certain there are are broached. That’stoOK. It comessome withof government answers addressing the territory. But the detours some of them to keep prices stable for Americans, these take to get the of insult but ourfolks government hastonone themcan in be entertaining. Sothings let’s take look at one. place. The only it hasa in place in the
June15-28, 9-22, 2015 2022 JANUARY
of my fans made a strained long One run always hurt consumers. Another comment how thoseawho fact is thatparaphrasing unemployment reaches certain refuse to learn about historyAnd are while doomed level based on the economy. the to repeat it, drawing a connection government might brag the numberbetween is low, New Zealand and itsthe gun grabbing policy. it’s more than likely government did As someone something to causewho thatknows numberhistory being low and feels comments should never — and notinane in a good way. Conversely, when go unchallenged, I simply hadthe to people do business picks up, it’s because something. let go of stating who need toIbuy widgets who the werefact not New Zealand not the the United Stateswas buying widgetsisbecause economy and simply due quipped how (or we unnatural, should try contracting to natural communism again, sarcastically implying government caused) reasons, decided we its richbuy history success, especially better someofwidgets. The government for forgotten hadthe nothing to doman. with As this.usual, my fan missed that connection went straight ■ Prediction four: Inand keeping with for thethe personal attack.does, But,Iof course, things government predict thenot before entangling logic like a kitten with government will manipulate the numbers toa ball yarn. makeofthe claim the economy is getting up: New Zealand betterFirst because of how hard itisisnot working to communist. I know and never Now help all of usYes, “working Americans.” inferred it say, was.“Craig, you always say this you might Next up: all Democrats aredon’t about PresidentNot Obama because you communists. Yes,right I know ALL of them like him.” You’re in a not sense. I don’t are. much what?of him and knowVictim the man, butand whatsay I know And finally, thelike coup dehim grace: can’t his thinking, I don’t it or oneI iota. believe yougo publish a newspaper Before you off, however, I didn’t like Well,Bush goshand darnhis it,bailouts, that actually made President stimulus me As did the thisfree person’s andchuckle. his abandoning marketother to save coup attempt, withhim “buck the free market.which And Irhymed don’t know off.” either. What the government does, and the to do, uplifting. yes, dear only But thingback it can is hurt Why the economy. Facebook poster, I do publish a newspaper Unless it does nothing or put criminals in and have for 22 years. And after jail instead ofnearly partnering with them, nothing 22 of living in will the same town where theyears government does help. Always look Iatpublish, it shouldn’t hard to says it this way, whatever be thethat government believe. That’s because publishing it is doing, whatever the name of thethis law it paper is theoreasiest thing do in or mygoal life.of is passing, whatever theIname While I’ll admit the right-hand the bureaucracy it is presenting to the column of a given left-hand pagetoinoccur. people, expect the polar opposite eachIedition of theI’m Business guess what saying Times is thatcan get a little dark and stormy, the rest of perhaps it’s time to get out of our own this publication is a tribute to the spirit perspective. There’s plenty of history and fortitude of the people of out Western books and historical research there to Colorado. It’s because of this the people begin to understand thatmost all of has in this areabefore. don’t message or again, talk to happened And it will this paperthe intopic the manner in which some whether is people or government. of my favorites on Facebook doistotome The best recommendation find personally. some books or try that whole Google I’ve published 22 years because thing. There’s a lot for of information on the I’m fortunate enough employ best Great Depression. Thetotruth is itthe wasn’t storyteller in town in Phil Castle — who even a good one until the government got over the decades to life in involved. There’s has alsobrought plenty of research our pages the stories and successes on the medieval warm period whenof thethe people in Mesa we have planet was muchCounty. warmerFact thanis,today with more people coming to us with storieswell a whole lot less people (and warmer than weman havewas space we doyep, it as a before herefor. at And all). And newspaper Ask questions, write people haveshould: been killing other surprised down answers andwas report facts. peoplethe since history firstthe written. If you do those simple will things, Maybe some research helpyou’ll stop have successful, publication. all ofathese trends.uplifting Otherwise, we’ll be Just likewe’ve the guy youseen don’t believelike could saying never anything it in have one does. It’s in that easy. way. our lives. And not a good Craig Craig Hall Hall is is owner owner and and publisher publisher of of the the Business Times. Reach him at 424-5133 Business Times. Reach him at 424-5133 or or publisher@thebusinesstimes.com. publisher@thebusinesstimes.com. F ✦
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June 9-22, 2022
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Consumers better served Immigrants play crucial role by free market choices, in economic recovery in U.S. not government coercion Buying a car can be one of the most exciting large purchases consumers make. Consumers research designs, features and costs to meet their needs. There’s an array of choices — something for everyone, it seems. The situation could change, though, if the executive order to follow the California Resources Board agenda signed by former Colorado Gov. John Hickenlooper in November 2018 is allowed to stand. Phyllis California is the Hunsinger only state that may initiate its own vehicle emissions regulations. But 16 other states, including Colorado, have willingly adopted the California Resources Board agenda to phase out and eventually ban the sale of new internal combustion engine vehicles. So much for consumer choice. The law of unintended consequences comes into full play here. Colorado has a different climate than California with different road conditions and vehicle needs. Can you picture electric equipment clearing boulders or snow from roadways? Mike Stenhouse wrote an article titled “States Should Decouple from California’s Oppressive Emissions Policies” that described the limitations to electric vehicles, not the least of which are range and the failure to perform well as family and commercial workhorse vehicles. More importantly, Stenhouse wrote, vehicle prices will soar while passenger safety will plummet. Charging electric vehicles requires many hours and the purchase and installation of a home charging station costs thousands of dollars. According to Stenhouse, electric vehicles are approximately 23 percent more expensive to repair and insure compared with internal combustion engine models, not to mention the significantly higher cost of replacing an electric vehicle battery. All of this makes an electric vehicle undesirable and too expensive for the average consumer. Trying desperately to coerce consumers to buy electric vehicles, the government offers significant subsidies. Still, electric vehicles are too expensive and inappropriate for most consumers. Harmful executive orders and
Executive orders and new regulations constitute an effort to change consumer behavior through coercion. legislation come out every year at the federal and state levels. Many of the orders go unnoticed because they’re too numerous to track. Hickenlooper’s executive order to embrace the California emissions regulations bypasses Colorado elected legislators who have a duty to represent their constituents in appropriate ways. To add to California’s agenda, on April 1, Biden administration regulators announced fuel efficiency requirements for cars, minivans and light trucks of 49 miles per gallon by 2026. As Stephen Moore wrote in a column for The Epoch Times, “The new rules won’t reduce pollution levels much because the higher fuel standards will raise the price of a new vehicle. To save money, families will keep their older gas guzzlers on the road longer.” Moore also pointed out the primary way to increase fuel efficiency is to build lighter vehicles, which translates to more highway fatalities. Executive orders and new regulations constitute an effort to change consumer behavior through coercion and deprive consumers of reliable, affordable vehicle choices. Free markets allow consumers to choose what kinds of vehicles make sense for them. Urge Colorado legislators to disengage from California’s power and control agenda and bring choice back to consumers. Phyllis Hunsinger is founder of the Freedom & Responsibility Education Enterprise Foundation in Grand Junction. The FREE Foundation provides resources to students and teachers in Western Colorado to promote the understanding of economics, financial literacy and free enterprise. A former teacher, principal and superintendent, Hunsinger wrote “Down and Dirty: A ‘How To’ Math Book.” Reach Hunsinger at phyllis@free-dom.us.com. For more information about the FREE Foundation, log on to the website located at www.free-dom.us.com. F
SHARE YOUR VIEWS The Business Times welcomes letters to the editor and guest columns on issues affecting businesses in Western Colorado. Submissions should be emailed to phil@thebusinesstimes.com and include names and telephone numbers for verification.
The United States economy continues to suffer. A pandemic struck in March and April 2020, with its effects lingering to this day. The economy took a nose dive and has struggled to recover. Amidst this struggle, entrepreneurs, businesses, investors and workers have been thrashed by raging inflation, a decline in real gross domestic product in the first quarter of 2022 and federal policies dangerously out of touch with economic reality. At the same time, though, businesses of all types and sizes struggle to fill employment needs due to a tight labor market. Even if the U.S. economy sinks back into a recession, the need to expand the labor force will remain. That promises to become even clearer when we eventually get back on a track of solid economic growth. As this scenario plays out, it’s worth looking at the data from the just-released U.S. Bureau of Labor Statistics report titled “Foreign-Born Workers: Labor Characteristics — 2021.” The latest edition of this report shows what previous editions have illustrated for years: foreign-born workers, or immigrants, Raymond have been the critical source of increases in the labor force and Keating employment. Consider the following key points from this look at 2021, as entrepreneurs, businesses, investors and workers tried to lead the U.S. back to economic growth. n From 2020 to 2021, the foreign-born labor force increased 671,000 while the native-born labor force was essentially unchanged. n From 2020 to 2021, overall employment increased by 4.8 million. Among the foreign born, employment increased 1.6 million, a gain of 6.5 percent. Employment also increased among the native born (3.2 million). In relative terms, though, that increase was about less than half as large at 2.6 percent. n Foreign-born men continued to participate in the labor force at a higher rate in 2021 (76.8 percent) than their native-born counterparts (65.8 percent). By contrast, 53.4 percent of foreign-born women were labor force participants, lower than the participation rate of 56.6 percent for native-born women. Regarding labor force participation, it’s important to look at the key working age bracket of 25 to 54 years old. As reported by the BLS, the difference between foreign-born and native-born is striking: By age, the proportion of the foreign-born labor force made up of 25- to 54-year-olds (71.4 percent) was higher than for the native-born labor force (62.2 percent). It’s also critical to keep in mind the economy is not a zero-sum game with only so many jobs to go around. Rather, the economy grows, jobs are created and that process is aided by immigrants who do complementary work to native-born workers, increasing productivity for all. Finally, key economic challenges for the U.S. for the past decade-and-a-half have been reduced levels and rates of entrepreneurship. While this BLS report doesn’t address entrepreneurship, studies consistently show the rate of entrepreneurship among immigrants is twice that of the native born. A National Bureau of Economic Research study of immigration and entrepreneurship in the U.S. found foreign-born business owners play a significant role in creating employment as opposed to the mistaken assumption immigrants take jobs from the native born. “The findings suggest that immigrants act more as job creators than job takers and that non-U.S. born founders play outsized roles in U.S. high-growth entrepreneurship,” the authors of the study wrote. They concluded: “Using administrative data, a representative sample and Fortune 500 data, we present new findings on the size of firms these different founder populations create. Across all three data sets, we find that immigrants present a right shift in new venture formation, where immigrants start more firms of each size per member of their population. … Overall, the entrepreneurial lens suggests that immigrants appear to play a relatively strong role in expanding labor demand relative to labor supply compared to the native-born population.” None of this is surprising when the often ugly politics of immigration are set aside in favor of actual data, trends and economics. Clearly, the U.S. economy would benefit from fixing the immigration system so immigrants who wish to work, start businesses and contribute to the nation are welcomed. Throughout this nation’s history, the competitive advantages possessed by the U.S. in the global economy have been our entrepreneurial drive and willingness to welcome immigrants. Those two strengths remain very much interrelated. Raymond Keating is chief economist for the Small Business & Entrepreneurship Council, a nonpartisan advocacy, research and education organization. Reach Keating through the website at www.sbecouncil.org. F
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n REGENERATIVE MEDICINE FRANCHISE OPENS CLINIC IN GRAND JUNCTION
QC Kinetix, a regenerative medicine franchise offering an alternative to pain relief, has opened a location in Grand Junction. Located at 2646 Patterson Road, Suite B, QC Kinetix uses natural biologic protocols to stimulate the body to heal damaged tissue and joints, including hips, knees and shoulders. Patients receive customized treatment plans based on their conditions and diganosis. Keith Hopkins opened the clinic. “The medical field has always fascinated me, especially regenerative medicine. When I was looking into starting my own business and learned what QC Kinetix offers patients, it really stuck out to me,” Hopkins said. “QC Kinetex offers many treatments that my friends and family have received in the past. They all raved about the results they get with these treatments, and I decided I wanted to get involved.” Justin Crowell, chief executive officer of QC Kinetix, hailed Hopkins as a franchisee. “He has an impressive business background and an entrepreneurial spirit that can’t be stopped. I am confident he will thrive as one of the newest members of the QC Kinetix family and continue to grow here. We are thrilled to have him on our team.” Based in Charlotte, N.C., QC Kinetix offers regenerative medicine treatments to address musculoskeletal conditions and joint pain. The franchise operations locations in 20 cities. For more information about the QC Kinetix clinic in Grand Junction, call 747-5868 or visit https://qckinetix.com/grand-junction. n FRUITA FARMERS MARKET SCHEDULED TO RESUME ON JUNE 11 AT REED PARK The Fruita Farmers Market season is set to resume June 11. Opening day is scheduled for 8:30 a.m. to noon at Reed Park, located at 250 S. Elm St. The market will feature local produce and other foods as well as handcraft vendors. The Fruita Farmers Market accepts Supplemental Nutritional Assistance Program (SNAP) and Double Up Food Bucks payments. The Fruita Area of Chamber of Commerce will host a family fun day on June 11 featuring games, classes and other activities. Banjo Cat will offer arts activities for children, JR’s Carriage Services will provide free horse carriage dies. Alexandria Cox will perform live music. The Fruita Farmers Market will operate Saturday mornings at Reed Park through Oct. 29 and will be sponsored by Atlasta Solar Center, the City of Fruita, Family Health West and U.S. Bank. Vendor applications are available online at the website at fruitafarmersmarket.org. Additional information is available from the Fruita Area Chamber of Commerce at 858-3894.
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n GRAND VALLEY PEDIATRICS URGES PARENTS TO TAKE STEPS TO AVOID DROWNINGS Community Hospital’s Grand Valley Pediatrics urges parents to remain vigilant throughout the summer to keep their children safe and prevent drownings. “Drowning accidents can happen very quickly, sometimes within seconds,” said Dr. Joanna Clem, a pediatrician at Grand Valley Pediatrics. “Drowning is often a quiet accident. There are typically no big splashes or thrashing Joanna Clem that people on see on TV.” Clem encouraged parents to stay within arm’s reach of children in the water and avoid the use of puddle jumpers and arm flotation devices that can actually increase the risk of drowning. Always use life jackets for all activities on rivers and lakes. Parents should assign a designated water watcher rotating in 10- to 15-minute increments. Alternatively, they should hire a life guard for gatherings if there’s a pool or pond on the property. Ensure proper fencing around backyard pools, including above-ground pools. Empty kiddie pools or inflatable pools after every use unless they’re fenced off. Parents also should invest in high-quality swim lessons that teach children how to swim in weeks, not months or years. n HOUSING AND BUILDING ASSOCIATION LOOKING FOR PARTICIPANTS FOR PARADE OF HOMES The Housing and Building Association of Western Colorado is looking for builders and sponsors to participate in its annual showcase event. The 41st annual Parade of Homes is set for Oct. 7 to 9 and Oct. 14 to 16. The event will be open from 10 a.m. to 6 p.m. Fridays and Saturdays and 10 a.m. to 4 p.m. Sundays. For more information about builder entries and sponsorships, contact the HBA of Western Colorado at 243-0253 or send an email to office@hbawesternco.com. F
Mosquito district enlists help in efforts to fight the bite The Grand River Mosquito Control District has asked residents to join in efforts to fight the bite this summer. The district treats more than 2,500 private properties as well as public open spaces in the Grand Valley. Tim Moore, manager of the Grand River Mosquito Control District, said it’s important for people to remember the three Ds — drain, dress and defend. Mosquitoes require water to breed, and problems can be avoided by checking and draining sources of water — disposing of old tires, clearing roof gutters of debris and repairing leaking
outdoor faucets. Water in pet dishes and bird baths should be changed frequently. “Encouraging your neighbors to also eliminate sources on their property is critical to a community wide control program,” Moore said. People who are outside when mosquitoes are active should wear light-colored, loose-fitting clothing, Moore said. It’s important as well to apply a mosquito repellent to clothing and bare skin. For more information, visit www.fightthebitegj.com. F
June 9-22, 2022
NOTEWORTHY
Grand Mesa Packaging has scheduled a ribbon cutting ceremony to celebrate the opening of its new location in Grand Junction. The ceremony is scheduled for 11:30 a.m. June 14 at the business, located in Unit B of the former Haliburton complex located at 3199 D Road. Grand Mesa Donna Peterson Packaging relocated from Cedaredge at the beginning of the year. The new location offers nearly 15,500 square feet in one building, That’s more than the total of 10,000 square feet spread over three buildings in Cedaredge and what used to be an apple processing facility. “We strive to be a full-service packaging supply company with great service and the products to fit all your needs,” said Donna Peterson, manager of Grand Mesa Packaging. The company supplies corrugated boxes, cartons and crates in a wide range of sizes and for a variety of products. The company also provides plastic bags, point-of-sale displays and packaging supplies. The firm’s online catalog includes more than 20,000 items. The ribbon cutting will include representatives from the Grand Junction Area of Chamber of Commerce. “We’re pleased to have Grand Mesa Packaging as a chamber member,” said Diane Schwenke, president and chief executive officer of the chamber. “We are grateful for businesses like this that keep our community moving forward and our economy strong. Grand Mesa Packaging is open from 9 a.m. to 3 p.m. weekdays and by appointment. For more information, visit https://grandmesapackaging.com or call 856-4820.
June 9-22, 2022
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n COLORADO MESA UNIVERSITY NAMES VICE PRESIDENT OF ACADEMIC AFFAIRS
Cher Hendricks is expected to soon join the leadership team at Colorado Mesa University in Grand Junction as vice president of academic affairs. Hendricks is scheduled to start her new duties July 1. She will bring to the position more than 25 years of experience in higher education, most recently as vice provost for academic and faculty affairs at the University Cher Hendricks of Akron. She also served as vice provost of academic initiatives at the University of Idaho and associated vice president for academic affairs at the University of West Georgia. “Cher is a relationship-oriented leader whose values and mission are in alignment with the university’s,” said CMU President John Marshall. “Her commitment to students, faculty and staff is apparent, and I’m thrilled to welcome her to our incredible campus and to the Mavily.” Hendricks said she’s looking forward to her new position. “I’m honored to join the Colorado Mesa University team with the goal of building on its strong foundation of exceptional teaching to support student success.” Hendricks will succeed Kurt Haas, who served as vice president of academic affairs for 20 years. He will return to the classroom in the languages, literature and mass communications department. “We are thankful for Kurt’s amazing service and are forever grateful to him for putting in the long hours during an unprecedented few years, where he led faculty through some challenging times,” Marshall said, n ALPINE BANK ANNOUNCES NEW WEALTH MANAGEMENT DIRECTOR Darla Daniel has been named senior vice president and director of Alpine Bank Wealth Management. Working out of the Alpine Bank location at the Denver Tech Center, Daniel will direct more than $1 billion in assets under management and supervise 28 employees. She previously served as vice president and trust counsel with the Darla Daniel wealth management department. She’s worked in the trust and estate field for three decades, including 10 years as a practicing lawyer and eight years as a bank trust officer. She holds a law degree from the University of Colorado. “I am thrilled to have the opportunity to lead the wealth management department at Alpine Bank,” Daniel said. “I look forward to positioning us for continued excellence and to helping our people and our department grow.” 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 additional information, visit the website at www.alpinebank.com.
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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 CITY OF GRAND JUNCTION ANNOUNCES NEW CITY CLERK Amy Phillips has joined the City of Grand Junction as the new city clerk. Grand Junction City Manager Greg Caton appointed Phillips to succeed Wanda Winkelmann, who retired in January. Phillips oversees the operation of the city clerk division, which conducts elections, manages board Amy Phillips and commission vacancies, processes and issues liquor licenses and maintains city records. She brings to her new duties more than 20 years of experience as a municipal clerk, most recently as city clerk for the City of Durango. She previously served as town clerk and treasurer of Mancos. She holds designation as a Certified Municipal Clerk. “We are pleased to have Amy join our team,” Caton said. “The city clerk position is a key component of city government, and it was important to get the right person in the role. Amy is a leader in her field, and we are fortunate to have been able to recruit her.” Phillips said she’s pleased. “I am very honored and excited to serve the City of Grand Junction and look forward to working with such an incredibly talented and professional team.” n WESTERN COLORADO RESIDENTS NAMED TO BYWAYS COMMISSION Three Western Colorado residents have been named to the Scenic and Historic Byways Commission. Ilana Moir, director of conservation at the Colorado West Land Trust based in Grand Junction, was reappointed to the commission. She serves as a representative of land trusts and open space. State. Rep. Matt Soper, a Republican from Delta, was appointed to serve as a representative of the State Legislature. Kelli Hepler of Delta also was appointed as an at-large member. The commission works with state and federal agencies as well as byways organizations to assist in the development of byways management plans and coordinates the allocation of funding for byways improvements. Linda Taylor of Grand Junction was appointed to the Statewide Independent Living Council. Taylor serves on the council as a director or representative of a center for independent living. The council works with Colorado Rehabilitation Services to plan independent living programs in the state. F
June 9-22, 2022
June 9 n Fruita Area Chamber of Commerce business after hours, 5:30 to 7:30 p.m., Timberline Bank, 649 Market St., Grand Junction. Admission $5 for chamber members, $10 for others. 858-3894 or https://fruitachamber.org June 13 n Free customer service trainings, 5:30 to 7 p.m. June 13 and 9:30 to 11 a.m. June 16, Mesa County Libraries central library, 443 N. Sixth St., Grand Junction. Registration encouraged. 243-4442 or https://mesacountylibraries.org June 14 n Presentation on marketing, 6 to 7:30 p.m., Business Incubator Center, 2591 Legacy Way, Grand Junction. Admission $35. 243-5242 or https://gjincubator.org June 15 n Western Colorado Human Resource Association membership meeting and economic update, 11:30 a.m. to 1 p.m., Mesa County Workforce Center, 512 29 1/2 Road, Grand Junction. www.wchra.org. n Palisade Chamber of Commerce business after hours, 5:30 to 7 p.m., 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 June 17 n Open Coffee Club free networking meeting, 9 to 10 a.m., FWorks, 325 E. Aspen Ave., Fruita. 858-3894 or https://fruitachamber.org June 20 n Grand Junction Area Chamber of Commerce quarterly membership luncheon and presentation by Loren Furman, president and chief executive officer of the Colorado Chamber of Commerce, noon to 1:30 p.m., Colorado Mesa University Center south ballroom. Admission $25 for chamber members, $30 for others. https://gjchamber.org or 242-3214 June 22 n Fruita Area Chamber of Commerce Women in Business event with stand up paddle boarding and cable wakeboarding, 5:30 to 7 p.m., Imondi Wake Zone, 1583 Cipolla Road, Fruita. 858-3894 or https://fruitachamber.org Upcoming n Welcome Thursday Friends networking meeting, noon to 1:30 p.m. June 23, Mike’s Famous Chicken, 233 E. Aspen Ave., Fruita. 858-3894 or https://fruitachamber.org n Free Finance Friday webinar, 2:30 to 3:30 p.m. June 24. 243-5242 or https://gjincubator.org n Bookkeeping boot camp, 9 a.m. to 2 p.m. June 28, Business Incubator Center. Admission $75, which includes lunch. https://gjincubator.org or 243-5242 n Grand Junction Area Chamber of Commerce presentation on the benefits of membership, noon to 1 p.m. June 28, chamber offices, 360 Grand Ave., and via Zoom. https://gjchamber.org or 242-3214 See ALMANAC page 31
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Almanac Continued from page 30
Upcoming n Grand Junction Area Chamber of Commerce business after hours, 5:30 to 7 p.m. June 28, Timberline Bank. Admission $10 in advance, $12 at the door. 242-3214 or https://gjchamber.org n Class on market research, 2 to 3 p.m. June 30, Mesa County Libraries central library. https://gjincubator.org or 243-5242 n Fruita Area Chamber of Commerce Women in Business free networking luncheon, noon to 1 p.m. July 7, Business Incubator Center. Participants should bring a soup, salad or side dish to share. https://fruitachamber.org or 858-3894 n Fruita Area Chamber of Commerce business after hours, 5:30 to 7:30 p.m. July 14, Coloramo Credit Union 333 W. Aspen Ave.. Fruita. Admission $5 for chamber members, $10 for others. https:// fruitachamber.org or 858-3894 n Open Coffee Club free networking meeting, 9 to 10 a.m.
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July 15, FWorks. https://fruitachamber.org or 858-3894 n Grand Valley BizMix networking event for members of the Grand Junction, Palisade and Western Colorado Latino chambers of commerce and Young Professionals of Mesa County, 5:30 to 7 p.m. July 26, Bank of Colorado, 2452 Patterson Road, Grand Junction. Admission $10. n Welcome Thursday Friends networking meeting, noon to 1:30 p.m. July 28, Koko’s Tavern, 152 S. Mesa St., Fruita. https://fruitachamber.org or 858-3894 n Fruita Area Chamber of Commerce business after hours, 5:30 to 7:30 p.m. Aug. 11, Grand Valley Primary Care, 101 Jurassic Ave. Admission $5 for chamber members, $10 for others. https://fruitachamber.org or 858-3894 n Open Coffee Club free networking meeting, 9 to 10 a.m. Aug. 19, FWorks. https://fruitachamber.org or 858-3894 F
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The Business Times
June 9-22, 2022
