THE BUSINESS T IMES News JUNE 22-JULY 12, 2023
VOLUME 30, ISSUE 12
THE DEFINITIVE SOURCE FOR GRAND JUNCTION BUSINESS NEWS SINCE 1994
THEBUSINESSTIMES.COM
In this issue
Trends 2 Contributors Opinion 4 Special Deliverie Business Briefs 5 Business People Almanac Handled Here!
n Market strength The commercial real estate market faces challenges in higher interest rates and inflation, but remains strong.
n Who to watch
Two Grand Valley businesses were among the winners in the Colorado Companies to Watch recognition program.
n Taxing matters
Mesa County will receive more than $4 million in the latest payment in lieu of taxes on federal lands in the county.
n Rate increase
19
The monthly jobless rate edged up in Mesa County, but remains at a low level that reflects a stable labor market.
Sunny 23 forecast
n Act out of CARE
21
HR professionals should embrace the principles of CARE, treating staff with compassion and empathy.
n What’s it worth?
Take steps to determine the value of your business as well as fetch a higher price when you do decide to sell.
n Departments Almanac Business Briefs Business People Contributors News Opinion Trends
30-31 28 30-31 21-25 2-18 26-27 19-20
n Tourism director expects a busy summer in the Grand Valley. See page 2 As director of Visit Grand Junction, Elizabeth Fogarty oversees the destination marketing organization and efforts to promote tourism.
Business Times photo by Phil Castle
Special Deliveries Handled Here!
SEE PAGE 3
970-644-3350
PRSRT STD U.S. POSTAGE PAID PERMIT NO. 67 The Business Times 609 North Ave., Suite 5 Grand Junction, CO 81501
THE BUSINESS T IMES News The Business Times
Page 2
June 22-July 12, 2023
Sunny forecast
Commercial Trends broker: Contributors Market still strong Opinion Business Briefs Business People Almanac
Tourism director has great expectations for a busy season in the Grand Valley
I
n astronomical terms, summer officially started in the Northern Hemisphere with the solstice on June 21. But the summer tourism season started in the Grand Valley well before that. Before the Memorial Day holiday weekend in May even. Elizabeth Fogarty, director of Visit Grand Junction and the city’s destination marketing efforts, says the season stretches from March through September — from the advent of warmer weather in spring through the changing foliage in fall. It’s the busiest time of year for leisure travel to the Grand Valley, Fogarty says. As well as for the hotels, motels, restaurants, gas stations and retailers who serve travelers and, in doing so, bolster the local economy. That makes the outlook for summer tourism all the more important. But Fogarty has great expectations for this year. Her two-word forecast: “Definitely positive.” Fogarty says she bases her outlook on a myriad of factors, among them lower gasoline prices and lower costs to get to what’s primarily a driving destination, easing inflation more broadly and pent-up As director of Visit Grand Junction, Elizabeth Fogarty oversees the city’s demand for travel that’s persisted in the destination marketing organization and efforts to welcome more travelers aftermath of the COVID-19 pandemic. to the area. Fogarty has great expectations for a busy summer season. That’s not to mention all the media income, 81 percent reported plans to take vacations. coverage the Grand Valley has received this year, including Even among households earning less than $50,000 a year, inclusion in a prestigious list of global destinations published 54 percent expected to take vacations. in the New York Times. In its latest biannual forecast, the U.S. Travel Association But the main attractions remain the main attractions, predicted domestic leisure travel will remain strong, although Fogarty says, including the scenic beauty and outdoor moderate from the surge that occurred last year. Travel is recreation as well as arts, culture and history. expected to grow 2 percent in 2023 and 2023. That also includes what Fogarty dubs nature’s trifecta in Fogarty says pent-up demand for travel hasn’t yet eased the Colorado National Monument, Grand Mesa and one of following the COVID-19 pandemic and related restrictions the highest concentrations of rock arches on the planet. It’s a in 2020 and 2021. “People still feel deprived from what unique value proposition, she says. “No one else can tell that happened those couple of years.” story in the world.” At the same time, there’s been an increase in solo A number of indicators offer encouragement, Fogarty tourism. Those traveling alone look for safe destinations, says. For the week of June 4 to 10, 77.2 percent of hotel and motel rooms in Grand Junction were occupied. That’s a higher Fogarty says. Survey results confirm two perceptions about the Grand Valley — that it’s friendly and safe. proportion than the average for either Colorado or the United Media coverage also has attracted attention — and States. visitors — to the Grand Valley. Earlier this year, Grand Gasoline prices dropped from a peak above $5 a gallon Junction was included among 52 places to go in 2023 in the a year ago to what AAA recently reported as an average of latest list published in the New York Times. Grand Junction about $3.57 a gallon nationwide and $3.55 statewide. was the 45th destination — between Madrid in Spain and The difference equates to nearly $30 for a 20-gallon tank. La Guajira in Columbia. Grand Junction was among a dozen The results of surveys reflect increasing intentions to U.S. destinations that made the list. travel, Fogarty says. In summer, that means family travel. See FORECAST page 18 Among households with more than $100,000 in annual
STORY AND PHOTO BY PHIL CASTLE
Phil Castle
The Business Times
While the commercial real estate market in the Grand Valley faces challenges from higher interest rates and inflation, Brian Bray remains optimistic. Demand persists, especially for investment properties. Businesses are growing and moving into bigger quarters. And more inventory is becoming available, said Bray, managing broker of Bray Commercial based in Grand Junction. Brian Bray “The market is good. The market is really strong.” While sales and dollar volume decreased in the first quarter compared to more robust activity a year ago, Bray said he expects sales to increase and reflect that underlying strength. “There are just a lot of good things going on in the Grand Valley.” Commercial sales decreased in Mesa County during the first quarter of 2023 compared to the same span in 2022. According to numbers Bray Commercial tracks for the commercial real estate market, 45 transactions worth a total of less than $50 million were reported during the first quarter of 2023. More than 70 transactions worth a total of more than $70 million were reported during the first quarter of 2022. Bray said the comparison isn’t straightforward because of the surge in activity in 2022. Going back to 2008, dollar volume for the first quarter of 2023 was still higher than all but three years. The Mesa County commercial real estate market faces headwinds in higher interest rates that make it more expensive to borrow money and inflation that makes it more expensive to build, he said. Bray said he remains upbeat nonetheless about most sectors of the market. Demand remains strong for vacant properties, and more industrial and distribution inventory should come on line, he said. The retail sector has experienced ups and downs. The office sector continues to lag as it has nationally, but wasn’t overbuilt in Mesa County, he said. Meanwhile, the multifamily housing sector has surged in Mesa County with the development and construction of thousands of units, he said. That reflects demand for more affordable housing as well as what he termed a “turn key” lifestyle without the responsibilities of homeownership. See MARKET page 16
June 22-July 12, 2023
The Business Times
Page 3
The Birth Place at Community Hospital
F
ew moments in life match the joy of learning that you are expecting an addition to your family. Choosing the right health care facility to welcome your bundle of joy into the world is an important decision. The Birth Place at Community Hospital is an eight bed LDRP that includes labor, delivery, recovery and postpartum care. This is significant because once the expectant parent(s) enter the hospital, they will remain in the same room they delivered in until they are discharged, without having to move to a different floor or unit, which enhances continuity of care. When expectant parents choose The Birth Place at Community Hospital, they will enjoy private parking, and a private entrance with an elevator that takes them directly to the labor and delivery unit. Each family also enjoys a steak and shrimp dinner prior to leaving the hospital or has the option to take home a beautiful gift basket to enjoy at a later date to celebrate their new bundle of joy. Each LDRP room has a private jetted soaking tub, which can be used as hydrotherapy in assisting with natural pain relief. Community Hospital also utilizes birthing balls and aromatherapy to help enhance the non-medicated pain relief experience. For those who prefer medicated pain relief, The Birth Place at Community Hospital has 24-hour on call anesthesiologists to place epidurals and utilize nitrous oxide, a method of pain diversion therapy. Additionally, there is one state-of-the-art operating room available on the labor and delivery unit to assist with patient’s obstetrical needs. Community Hospital’s state-of-the-art birthing facility promotes breastfeeding and bonding as one of the most important steps to motherhood. The Birth Place at Community Hospital utilizes the “Golden Hour” where all babies and moms remain skin to skin until the first breastfeed has occurred. Moreover, we have created a space that is large enough in each LDRP room that moms and babies never have to be separated.
We offer lactation consults, followup home visits, birthing classes and private tours of the unit. Our highly qualified staff of registered nurses, labor techs, obstetricians, certified nursemidwives, neonatal nurse practitioners and respiratory therapists will tailor each patient’s birth to be as safe, meaningful, and individualized as possible. Childbirth Education Classes inspire the beginning of your parenting journey. Whether this is your first pregnancy, or you need an update on the most recent infant care practices, The Birth Place at Community Hospital offers parents a chance to learn about the newest techniques, methods, and options in labor and delivery. Science and research continues to expand our knowledge about preparing for childbirth. Patient satisfaction scores are consistently above 95% in all obstetric categories. Here is what one parent said about The Birth Place at Community Hospital, “Words cannot begin to describe the amount of care, attention, and genuine love that this place and its staff has for patients. We have had the most wonderful experience bringing our baby girl into this world here at Community Hospital thanks to the people that make this place so incredible!” If you or someone you know is in need of a women’s health care provider, Community Hospital’s Canyon View Women’s Health employs board certified OBGYN physicians who practice obstetrics and gynecology and certified nurse-midwives who specialize in providing care for women of all ages and pride themselves in administering care through a patient-driven approach. The staff at Canyon View Women’s Health is highly trained and exceptionally friendly. The OBGYN physicians at Community Hospital’s Canyon View Women’s Health are trained and experienced in a wide range of births, including twin births and cesarean section (C-section) births. Community Hospital’s team of certified nurse-midwives has a
Special Deliveries Handled Here!
970-644-3350 www.YourCommunityHospital.com
long-established tradition of providing excellent care to women of all ages. Working with the OBGYN physicians, our certified nurse-midwives have access to the most modern diagnostic equipment. The entire team is committed to providing each patient with an exceptional level of care and attention. We understand that for many, visiting a health care provider can be a stressful experience. Our comfortable surroundings and compassionate medical professionals will help ease any fears you may have. Our dedicated staff works together as a team to provide high-quality comprehensive care. Our compassionate and understanding health care providers take pride in paying close attention to the needs of every patient. Canyon View Women’s Health is conveniently located adjacent to Community Hospital in the Canyon View Medical Plaza at 2373 G Road, Suite 240. Whether this is your first child or you are expanding your family, Community Hospital would be honored to be part of this special time in your life. We pride ourselves in providing a more personalized approach to health care. Contact us today at 970644-3350 or visit us online at www. YourCommunityHospital.com/ LaborandDelivery.
Your Health Matters To Us!
The Business Times
Page 4
The Business Times 609 North Ave., Suite 5 Grand Junction, CO 81501 (970) 424-5133 www.thebusinesstimes.com The Business Times 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 don’t necessarily reflect the views of the publisher, editor or advertisers. Copyright © 2023 — All rights reserved
June 22-July 12, 2023
Think tank researcher: Local policies matter Phil Castle
The Business Times
While national and state policies affect businesses, so do local policies. “Local communities have a lot of say in their ability to stay competitive,” said Chris Brown, vice president of policy and research with the Common Sense Institute. Speaking at a Chris Brown Grand Junction Area Chamber of Commerce quarterly membership meeting, Brown discussed a range of policies. He also discussed the results of reports the Common Sense Institute prepared looking at crime, homeless and housing affordability in Mesa County and Grand Junction. Brown described the Common Sense Institute as a nonprofit and nonpartisan think tank that strives to quantify and provide information about the effects of major public policies. The institute operates in Colorado and Arizona and is looking to expand into other states, he said. On a national scale, inflation has made life more expensive, Brown said. By one See POLICIES page 16
Chamber honors expansive efforts
A hospital, office technology company and health care provider were honored for expansions involving a total of more than $3.8 million in capital investments and 26 new jobs. The Grand Junction Area Chamber of Commerce honored the three as part of its latest quarterly membership meeting. Community Hospital was honored for its role in opening a clinic in Palisade providing primary and acute care. Community Hospital invested $2.5 million in the clinic, which created 19 new jobs. ImageNet Consulting was honored for opening a Grand Junction office. The company provides solutions to help businesses manage processes. The new office involved an investment of more than $1 million and created four jobs. MarillacHealth was honored for acquiring a family medicine practice in Grand Junction. The collaboration involved an investment of more than $200,000 and three jobs. F
Grand Valley firms among 2023 companies to watch
isIShiring a HIRING A Senior Mechanic Senior Mechanic in Rangely, Colorado in Rangely, Colorado Please visit our website to apply: scoutep.com/careers Please visit our website to apply: scoutep.com/careers
Two Grand Valley companies are among the latest winners of a statewide awards program honoring fast-growing firms for their innovative products, unique processes and marketplace performance. Låda Cube in Grand Junction and Sauvage Spectrum Estate Winery & Vineyard in Palisade were winners of the 2023 Colorado Companies to Watch program. JFS and Lyttle’s Fleet Maintenance in Grand Junction were finalists. The winners were honored at a June 16 awards gala. The Colorado Companies to Watch program honors privately held secondstage companies headquartered in Colorado with between $750,000 and $50 million in annual revenue and six to 99 employees. Låda Cube designs and manufactures moveable and reusable modular wall systems. John Fay launched the company in 2013 to provide self-contained and selfstanding modular wall systems for office, retail, residential and other uses. He relocated the headquarters from California to Grand Junction, returning to the place where he grew up. In addition to its offices and manufacturing facility in Grand Junction, Låda Cube also operates facilities in
Mexico and South Africa. Låda Cube wall systems offer speed of installation and reusability. Walmart has become one of the company’s biggest customers in using the wall systems for vision and health care centers at its stores. Fay envisions other uses for the systems, including housing and data centers. Kaibab Sauvage and Patric Matysiewski started Spectrum Sauvage in 2019, combining their respective experiences and skills as grape growers and winemakers. They make a variety of wines, including popular sparkling wines bottled under Sparklet labels. They also bottle sparkling wines under Pet-Nat labels, short for the French term petillant natural describing a process in which the wine is bottled with the right amount of sugar for fermentation to continue and produced natural carbonation. The Colorado Association for Viticulture and Enology and Manufacturer’s Edge both presented Sauvage Spectrum with winery of the year awards. JFS provides consulting and accounting services to rural health care providers. Lyttle’s Fleet Maintenance provides a range of installation and maintenance services for commercial vehicles. F
The Business Times
June 22-July 12, 2023
Mesa County to receive $4 million payment in lieu of taxes on federal lands Mesa County will receive more than $4 million in the latest payment in lieu of taxes on federal lands in the county. The payment is once again the single largest to a Colorado county out of more than $45.5 million in so-called PILT payments in the state for the 2023 fiscal year. Nationwide, the U.S. Department of Interior will distribute almost $550 million. “PILT payments help local governments carry out vital services, such as firefighting and police protection, Joan Mooney construction of public schools and roads and search and rescue operations,” said Joan Mooney, principal deputy assistant secretary for policy, management and budget at the Department of Interior. “We are grateful for our ongoing partnerships with local jurisdictions across the country who help the Interior Department fulfill our mission on behalf of the American public,” Mooney said. The PILT program compensates local government entities for revenues from nontaxable federal lands, including those administered by the Bureau of Land Management, Fish and Wildlife Service, Forest Service and National Park Service. Payments are based on the acreage of federal land and population within a county. Since the program began in 1977, the Department of the Interior has distributed nearly $11.4 billion. Funding comes from the more than
$26.3 billion in annual revenue the Department of the Interior collects from commercial activities on federal lands, including energy development, livestock grazing and timber harvests. The payment to Mesa County for the 2023 fiscal year tops the 2022 payment by about $230,000 or more than 5 percent. The payment is based on the nearly 1.56 million acres of federal lands in the county. The combined acreage of federal lands in Mesa County is third in Colorado behind only Moffat County with 1.67 million acres and Gunnison County with more than 1.63 million acres. The PILT payment is higher for Mesa County than other counties, though, because of its larger population. Moffat County will receive a payment of nearly $989,000. Gunnison County will receive almost $1.6 million. With nearly 1.2 million acres of federal lands, Garfield County will receive the second largest PILT payment in Colorado of more than $3.7 million. Montrose County will receive more than $3 million in payment in lieu of taxes on nearly 1 million acres of federal land. Despite having almost 1.5 million acres of federal lands, the less populated Rio Blanco County will receive almost $674,000. Delta County will receive nearly $949,000 for more than 400,000 acres. Among the states, Colorado ranks third for the highest PILT payments. New Mexico received the highest payment at nearly $46.7 million, while Utah received more than $46.2 million. F
REGIONAL PAYMENTS IN LIEU OF TAXES Delta County Garfield County Mesa County Montrose County Rio Blanco County
FY 2023 payment $948,991 $3,720,824 $4,128,193 $3,019,198 $673,916
Total federal acres 404,420 1,188,817 1,556,760 980,658 1,498,609
Page 5
Page 6
The Business Times
June 22-July 12, 2023
Hospital executive testifies at congressional hearing A Grand Junction executive advocated for independent hospitals in testifying at a congressional hearing on consolidation in the health care industry. “I am a firm believer in the value of independent, community owned hospitals,” said Chris Thomas, president and chief executive officer of Community Hospital. Chris Thomas “Our ability to singularly focus on the well-being of our community and the needs of patients within our service areas sets us apart,” Thomas said. “We have proven that by competing when appropriate and partnering when the opportunity presents itself, we can lower the cost of health care, improve access and improve the quality of care
our community receives.” Thomas testified before the Senate Finance Committee on a hearing on the effects of consolidation and corporate ownership in health care. Thomas said fair competition must be maintained to enable independent hospitals to continue to provide services and meet needs. Community Hospital joined Michael Bennet with the Town of Palisade and Mesa County to open a primary and acute care clinic in Palisade and offer health care services there for the first time in decades, Thomas said. In addition, construction is underway at the Community Hospital campus in Grand Junction on an
early childhood education center that will help address the child care shortage in the county, he said. Both the Palisade clinic and childhood center benefited from congressionally directed spending, Thomas said. “This is such an amazing example of how federal solutions can help provide for the needs of communities.” U.S. Sen. Michael Bennett, a Democrat from Colorado, praised those efforts and others. “Under Chris’ leadership, Community Hospital has stayed independent, fostered positive competition, lowered health care costs and improved quality of care for patients. I was thrilled to help secure funding for Community Hospital to directly address gaps in local services. But if we want independent hospitals to survive, Congress must do more to support them.” F
Summit set for West Slope nonprofits
A regional summit is planned to assist nonprofit organizations in Western Colorado. The summit is scheduled for 8:30 a.m. to 3:30 p.m. July 19 at the Colorado Mountain College campus in Rifle. “We will provide the tools and resources that nonprofit staff can use in real time,” said Jeff Corn, chairman of the Western Slope Regional Leadership Committee and an employee with Eagle County Public Health and Environment. “Attendees will walk out of this event with new and valuable approaches to today’s challenges in the Colorado nonprofit sector.” Community Resource Center, an organization that brings together nonprofits across Colorado, will host the summit. The event will offer representatives from nonprofits in Mesa County and other Western Slope counties an opportunity to hear from and connect with nonprofit and foundation leaders and learn about resources to support their missions. Workshops will cover such topics as collaboration, resource development and sharing and staff retention. Performance artist Merrily Talbott will involve participants in interactive exercises designed to enhance focus and encourage participation. Snacks and meals will be provided. For more information about the summit, log on to https://crcamerica.org/ programs/rural-engagement/regionalwebsites/westernslope or contact Lisa Duran at lisa.duran@crcamerica.org. F
Here’s news you can use
Subscribe today to the journal that means business in the Grand Valley. (970) 424-5133
www.thebusinesstimes.com
June 22-July 12, 2023
The Business Times
Page 7
Page 8
The Business Times
Grand Junction excels in tasteful test The City of Grand Junction provides some of the best tasting water anywhere, the results of a competition confirm. The city placed second in the Best of the Best Water Taste Test conducted as part of the annual American Water Works Association (AWWA) international conference in Toronto. “We were thrilled to be chosen best tasting water in the Rocky Mountain Region this past fall. And now to be selected as the second best Randi Kim tasting water at our international conference, well that is truly something about which our community can be very proud,” said Randi Kim, utilities director for the City of Grand Junction. “We are fortunate to have a very pristine water source with the Kannah Creek watershed. However, I also give a great deal
June 22-July 12, 2023
of credit for the quality of our water to our hard-working teams who manage our reservoir and water supply pipelines, operate our water treatment plant and maintain our distribution system to deliver great tasting water to our customers every day,” Kim said. “I am thrilled to be receiving this award on behalf of all of them.” The City of Miramichi in New Brunswick, Canada, won the Best of the Best Water Taste Test. Third place went to Raleigh Water and the Dempsey E. Benton Water Treatment Plant in Raleigh, N.C. A panel of judges that included trained water flavor profilers selected the winners of the Best of the Best Water Taste Test. The People’s Choice Taste Test was determined by the more than 10,000 attendees at the AWWA conference. The events featured regional winners from water tasting competitions. Established in 1881, the AWWA is the largest nonprofit association dedicated to managing and treating water. F
MacKay mkBeacon smart parking meters will be installed along Third and Sixth streets in Grand Junction as part of a pilot program. (Photo courtesy City of Grand Junction)
Grand Junction seeks comments on parking meters
The City of Grand Junction plans to test parking meters that can accept coins, credit cards and mobile payments. The pilot program will run through October and include wireless parking meters installed on Third Street south of Main Street and Sixth Street north and south of Main Street. People who use the smart meters are encouraged to complete an online survey and offer their comments at https://engagegj.org/smartmeter. The MacKay mkBeacon meter features a large display and keypad and accomnodates coins, credit cards and mobile payments. The meter is powered by a solar panel and rechargeable battery pack that lasts up to five years. Internal components are built with recycled plastics. Nearly 1,200 parking meters operate within Grand Junction city limits to promote the use of parking spaces on rotating basis. City staff must replace a total of 4,000 AA batteries twice a year to keep the meters running. Moreover, the meters accept only coins or mobile payments. F
Subscribe today to the journal that means business in the Grand Valley. (970) 424-5133
www.thebusinesstimes.com
June 22-July 12, 2023
The Business Times
Page 9
The Business Times
Page 10
Pet industry broker wins national award The principal broker for a Grand Junction firm that assists with the sales of pet care businesses has been honored for her efforts. Teija Heikkila of PET|VET M&A, Sales & Advisory received a 2022 Platinum Club award from M&A Source. The trade association for lower middle market transaction advisors presented awards for Teija Heikkila individual and firm performance at its recent spring conference in Florida. “These individuals and firms represent some of the best professionals in the lower middle market, and we congratulate them on their success,” said Kylene Golubski, executive director of the M&A Source. The Platinum Club award recognizes those whose completed transactions totaling more than $15 million in combined enterprise value in one calendar year. “2022 was certainly a big year not just for us, but for the industry as a whole,” Heikkila said. “I appreciate the recognition as dealmaking is never easy. But I would also like to thank my clients for trusting me with their biggest asset and my team at
PET|VET for their efficiency and support.” Heikkila said the lower middle market constitutes a hotbed of activity as investors seek alternatives in which they can enter earlier into the value creation cycle. This offers opportunities for sellers in the pet care industry with favorable deal structures and terms. “Several new private equity firms have entered the space and amid the competition we are able to secure uniquely favorable structures that produce immediate and longterm life-changing wealth for our clients,” she said. “We also have access to capital to grow your brand to a multi-site regional presence. There are rare opportunities where timing matters.” Heikkila has worked in the pet industry since the 1990s, first as the owner of a dog boarding and training facility in Washington state, then as a business broker, mergers and acquisitions intermediary and consultant. Heikkila and her team at PET|VET M&A, Sales & Advisory have completed more than 170 transactions with a total sale value of $350 million. Heikkila was inducted into the DealStats Hall of Fame in both 2021 and 2022 for the number of successful deals in which she was involved. F
June 22-July 12, 2023
Mesa County and humane society collaborate in foster pet challenge
Mesa County and the Roice-Hurst Humane Society in Grand Junction will once again join in an effort to find more foster homes for pets. The Foster Pet Challenge is scheduled to run through Sept. 8 with a goal of recruiting 100 new foster families in 100 days. Roice-Hurst Humane Society will host a kickoff event set for noon to 3 p.m. June 24 at the Mesa County Courthouse at 544 Rood Ave. in Grand Junction. People can meet pets available for the foster program, learn about the challenge and sign up to participate. Roice-Hurst provides supplies, vet care and training to foster pet families. Those unable to provide a foster home to a pet can still contribute to the challenge. Every $150 donated to Roice-Hurst Humane Society through Sept. 28 as part of the Foster Pet Challenge will offset the cost of caring for one foster pet and count toward the goal. “The Foster Pet Challenge presents an incredible opportunity for animal lovers in Mesa County to make a meaningful difference in the lives of shelter pets,” said Doug Frye, manager of county animal services. “By becoming a foster family, individuals can offer these animals a safe and loving environment, easing the strain on local shelters and helping them find permanent homes.” Anna Stout, chief executive officer of Roice-Hurst Humane Society, agreed. “One of the most impactful things you can do right now to help the situation our local shelters are facing is to foster a dog or cat for a few days or weeks,” Stout said. “With growing waitlists and desperate pet owners, our biggest constraint is space. Each home that opens its doors to a shelter pet is also creating an available space in a shelter, so you are helping two pets at once. Not to mention the fact it is incredibly rewarding to serve a brief purpose in the journey of a foster pet.” Mesa County Commissioner Janet Rowland praised efforts to recruit foster families and move pets into homes while they await adoption. “We extend a heartfelt invitation to all compassionate individuals to stand with us in our mission to recruit 100 new foster families within the next 100 days.” For additional information about the Foster Pet Challenge, visit the website at https://RHhumanesociety.org/foster. F
Join our team and lead a career in Economic Development
T
he Grand Junction Small Business Development Center (SBDC) was established in collaboration with the Small Business Administration (SBA), the Colorado Office of Economic Development and International Trade (OEDIT), and in partnership with the Business Incubator Center (BIC). This partnership aims to provide free confidential consulting and low or no-cost training programs to small businesses. And to create a comprehensive resource hub for entrepreneurs and small business owners in the region. At the heart of the SBDC services are experienced business consultants who provide personalized guidance and assist with business planning, market research, financial analysis, and marketing strategies. The confidential consulting helps entrepreneurs navigate challenges and make informed decisions that propel their businesses forward. Understanding the market is crucial for small businesses, which can be a daunting task. The SBDC steps in by offering guidance with market research and analysis. By uncovering customer preferences, industry trends, and competitive landscapes, entrepreneurs gain valuable insights that help them tailor their products and services to meet market demands effectively. The SBDC offers business training workshops, seminars, and programs covering a variety of essential topics aimed to help entrepreneurs improve their skills in areas such as business management, financial literacy, marketing, technology integration, and legal compliance. And provide entrepreneurs with the knowledge needed to succeed in today’s ever-changing business landscape.
Securing funding is often a hurdle for small businesses. The SBDC provides guidance and support in navigating the complex world of financing options. From connecting entrepreneurs with lending institutions to assisting with loan applications and exploring alternative funding sources, the SBDC ensures that entrepreneurs have the tools they need to access the capital necessary for growth. The SBDC recognizes the power of networking and collaboration in fostering business success. Through events, industry-specific roundtables, and partnerships with other organizations, the SBDC creates opportunities for entrepreneurs to connect with like-minded individuals, share experiences, and explore potential collaborations. These connections drive innovation and open doors to new possibilities. The impact of the Grand Junction SBDC at BIC can be seen through the inspiring success stories of the businesses it has supported. Many entrepreneurs who have utilized SBDC services have experienced significant growth, created jobs, and increased their revenue. These success stories serve as a testament to the SBDC’s role in nurturing entrepreneurial talent and fostering a thriving business community. The Grand Junction SBDC plays a vital role in shaping a vibrant and resilient business community. BIC is looking for a Director to lead The Grand Junction SBDC. We’re looking for a dynamic team player interested in contributing to our mission of economic growth, job creation, and the overall prosperity of the region, and dedicated to supporting entrepreneurship and driving economic prosperity. We’re interviewing on a rolling basis. Find the full job description on gjincubator.org/career-opportunities.
The Business Incubator Center 2591 Legacy Way • Grand Junction, CO 81503 970.243.5242 • GJIncubator.org
June 22-July 12, 2023
The Business Times
Page 11
Page 12
The Business Times
June 22-July 12, 2023
Colorado third among most improved states for retirees Colorado ranks third in an analysis of how states are striving to HOW STATES FARED better accommodate our the most improved states for retirees. Colorado moved up 30 spots from aging population.” 1. Virginia 46. Oklahoma 33rd to third in the analysis, which takes Metal Resources studied 2 Minnesota 47. Kansas into account the span between 2019 and retirement rankings across 3. Colorado 48. Mississippi a five year-span, including 2023. 4. Alaska 49. Arkansas “Over the last five years, we’ve thoseconductedforBankrate, 5. Delaware 50. Kentucky witnessed a substantial shift in the CreditKarma, HuffPost and retirement landscape across the United MoneyWise. States,” said Barry Landry of Metal Resource, a website Colorado ranked the third most improved state in the that offers information about precious metals and Metal Resource analysis based on its scenic landscape retirement funds. outdoor recreation, and cultural offerings. In addition, “It’s not merely about where retirees are heading now. investments in health care infrastructure have provided It’s about recognizing consistent improvement in factors more access to medical facilities and services. that matter to retirees,” Landry said. “This data gives us a Virginia placed first among the most improved deeper understanding of retirement trends and showcases states for retirees, moving up 38 places from 39th place
in 2019. Virginia was lauded for its health care services, comparatively affordable cost of living and lower state taxes. That includes a tax exemption on Social Security benefits. Minnesota finished second, moving 32 spots from 40th to eighth. The state fared well for health care and entertainment as well as the third-longest life expectancy among the states behind only Hawaii and California. Alaska ranked fourth, while Delaware rounded out the top five states. Conversely, the least improved state for retirees was Kentucky, which dropped 44 places from sixth in 2019 to 50th. The drop was attributed in part to survey results that found only 66.9 percent of seniors reported their health as good or better while 10.3 percent reported poor mental health. F
June 22-July 12, 2023
The Business Times
Page 13
Page 14
The Business Times
Grant to fund North Avenue improvements The City of Grand Junction plans to use a $2.3 million grant to fund improvements along North Avenue. The Colorado Department of Transportation awarded the grant under its Transportation Alternatives Program. Combined with other previously awarded Transit and Multimodal Options Fund grants, the total scope of the project nears $5 million. “One of the transportation goals for the Trent Prall city is to preserve the ability for people to navigate easily using whatever mode of transportation best fits their needs,” said Trent Prall, public works director for the City of Grand Junction. “These improvements to North Avenue will not only provide connectivity on a regional level, but will increase safety for everyone who walks, bikes or rolls along this major roadway in our community,” Prall said. The grant will enable the city to build about 1.25 miles of
detached sidewalk along North Avenue. The grant also provides funds to provide lower stress paths for pedestrians and cyclists along the north side of North Avenue between 29 Road and the Interstate 70 Business Loop and on the south side of North Avenue between 29 1/2 Road and I-70B. The project will connect with previously funded segments on the north side between 28 1/2 Road and 29 Road and on the south side between 29 Road and 29 1/2 Road. Design and securing environmental permits and right-of-way will take place through 2024, followed by actual construction in 2025. The project on North Avenue will address such transportation goals as safety; improved network connectivity; reduced greenhouse gas emissions; and improved equity, quality of life, public health and recreation. The project will also implement recommendations outlined in the newly adopted city pedestrian and bicycle plan to increase access and connectivity. F
Easement protects access to trails in Redlands area Colorado West Land Trust has completed a conservation easement on more than 27 acres in the Redlands area of Grand Junction. Located between the Ridges and Redlands 360 development, the easement will ensure continued public access to trails on the property. Greg and Dot Hoskin conveyed the property for the easement. In doing so, the Hoskins guaranteed the land and trails will remain protected. Greg Hoskin The couple purchased their home in 1970 and for more than five decades has allowed public access to the property on a well-established and user-defined trail system
through the desert landscape. The trails are accessible to hikers, cyclists and those walking their dogs and create outdoor recreation opportunities. The trails also connect with adjacent communities. “Having a piece of local ground like this available in the middle of an urban area to recreate on, to run your dog on, is a real treat,” Greg Hoskin said. “There are not many places you can do that.” The property also affords views of the Bookcliffs, Colorado National Monument and Grand Mesa. In addition, the property supports natural vegetation, including the federally threatened Colorado hookless cactus, as well as such animals as the northern leopard frog. F
June 22-July 12, 2023
Food bank adds distribution site, seeks volunteers
Food Bank of the Rockies Western Slope (FBRWS) based in Grand Junction has added a mobile pantry distribution site as well as volunteer opportunities for the summer. Mobile pantry distributions are scheduled for 8 to 10 a.m. the second and fourth Tuesdays of the month at Sherwood Park in Grand Junction. Food Bank of the Rockies Western Slope also seeks volunteers to help distribute food. A variety of shifts are available to offer volunteer opportunities for high school and college students as well as adults, businesses, nonprofit groups, service clubs and youth groups. Volunteers need to be at least 10 years old and with a parent or guardian to volunteer. Those who are 16 years old and older can volunteer on their own. So far in 2023, Food Bank of the Rockies Western Slope has distributed more than 3.5 million pounds of food. Volunteers have donated more than 4,800 hours. For more information about mobile pantries or volunteering, visit www.foodbankrockies.org. F
June 22-July 12, 2023
The Business Times
Page 15
Page 16
The Business Times
June 22-July 12, 2023
Policies
Continued from page 4 estimate, households pay on average $1,000 more a month now than in 2019 as a result of inflation and higher prices. The Federal Reserve has raised interest rates to curb inflation. But that policy could have other implications, Brown said. The last time interest rates were similarly increased, the unemployment in Colorado jumped to 5.9 percent, he said. In May, the latest month for which estimates are available, the statewide seasonally adjusted jobless rate held steady at 2.8 percent. A number of state policies exert effects on businesses and competitiveness, Brown said, including those involving health care, income taxes, litigation and energy and the environment. In Mesa County and Grand Junction, a Common Sense Institute report found the crime rate remained flat locally even as it trended upward statewide. In Grand Junction, arrests have dropped 14.8 percent since 2010, Brown said. The rate of auto thefts remains far lower in Mesa County than in Denver, he said. According to the latest results of a one-night, once-a-year count, the number of people counted among the unsheltered was up 60 percent in Grand Junction, Brown said. Meanwhile, rising interest rates and prices have pushed down housing affordability, he said. So has an imbalance between supply and demand. According to one estimate, there’s a deficit of 1,900 housing units to 2,400 units in Grand Junction. But the population is expected to continue to grow as a larger portion of growth in Colorado occurs in Grand Junction, Brown said. F
Market
Continued from page 2 Higher interest rates also have affected residential real estate activity in Mesa County. Transactions and dollar volume through the first five months of 2023 both declined more than 30 percent compared to the same span in 2022. There’s also been a decline in the construction of single-family homes, Bray said, as builders face higher interest rates and prices on materials. There’s a correlation between residential and commercial real estate, Bray said, as growing populations and work forces demand more products and services as well as provide labor for companies. Commercial real estate trends traditionally lag behind residential trends, he said. Bray said there’s more uncertainty in the market, a situation a presidential election in 2024 will only exacerbate. But at the same time, the local economy remains strong. And Grand Junction has garnered increasing attention in the aftermath of the COVID-19 pandemic as a place to work and live, he said. Bray said that makes him optimistic. F
June 22-July 12, 2023
The Business Times
Page 17
Page 18
The Business Times
June 22-July 12, 2023
Forecast
Continued from page 2 Grand Junction was hailed for its landscapes and outdoor recreation as well as something missing from other destinations — crowds. The list mentioned hiking in the Colorado National Monument and mountain biking on local trails as well as visiting restaurants, shops and wineries. Grand Junction has received additional media attention for making the list, Fogarty says, further increasing the promotional value. Grand Junction garnered additional attention in Outside magazine as a base from which to explore the Colorado Plateau and what the magazine described as “America’s greatest natural playground.” Travel + Leisure recently featured the nearby Rattlesnake Canyon and its concentration of sandstone arches. The combination of the Colorado National Monument, Grand Mesa and arches in such close proximity constitutes a unique draw, Fogarty says. The Colorado National Monument and downtown shopping district continue to rank among the most popular attractions, she says. But other pillars also support tourism, including arts, culture, history and wineries. “Now we have many pillars.” Using the proceeds from lodging taxes assessed on hotel and motel stays, Visit Grand Junction promotes travel and tourism in a variety of ways — not only in pitching newspaper and magazine stories, but also advertising on television and social media. Data science plays a significant role in targeting the right messages to potential visitors in appropriate ways and at the appropriate times, Fogarty says. Visit Grand Junction will soon publish a rebranded visitor guide as well as launch a revamped web site this fall, she says. The efforts are important, she says, because of the contributions of travel and tourism to the local economy. Visitor spending accounts for about 30 percent of city sales tax collections, she says. Restaurants attribute 40 percent to 70 percent of business to visitors. A study released last year by Nathan Perry, an economics professor at Colorado Mesa University in Grand Junction, pegged the direct, indirect and induced effects of outdoor recreation businesses and outdoor recreation tourism in Mesa County at a total of $484 million a year. Fogarty says travel, tourism and outdoor recreation are collectively big employers. That includes entry level jobs for students and others. She says the leisure and hospitality industry sometimes gets a bad rap for low wages, but the sector offers opportunities and upward mobility for those who pursue careers. Fogarty says her “definitely positive” forecast for the summer season extends beyond travel and tourism businesses to the Grand Valley economy and those who live here. F
News Trends Unemployment rate edges up Contributors Opinion Business Briefs Business People Almanac The Business Times
June 22-July 12, 2023
Page 19
INDICATORS AT A GLANCE
n Business filings
s New business filings in Colorado, 55,787 in the first quarter, up 27.6 percent from the first quarter of 2022.
n Confidence
t Consumer Confidence Index 102.3 for May, down 1.4. s Leeds Business Confidence Index for Colorado, 45.1 for the second quarter, up 5.3. s National Federation of Independent Business Small Business Optimism Index 89.4 for May, up 0.4.
n Foreclosures s Foreclosure filings in Mesa County, 27 in May, up from 16 in May 2022. s Foreclosure sales in Mesa County, 3 in May, up from 0 in May 2022.
n Indexes
t Conference Board Employment Trends Index, 116.15 for May, down 0.64. t Conference Board Leading Economic Index 107.5 for April, down 0.6%. t Institute for Supply Management Purchasing Managers Index for manufacturing, 46.9% for May, down 0.2%.
n Lodging
s Lodging tax collections in Grand Junction, $613,988 for the first quarter, up 6% from the first quarter of 2022.
n Real estate
t Real estate transactions in Mesa County, 370 in May, down 28.8% from May 2022. t Dollar volume of real estate transactions in Mesa County, $156 million in May, down 33.9% from May 2022.
n Sales
s Sales and use tax collections in Grand Junction, $14.3 million for the first quarter, up 5% from the first quarter of 2022. t Sales and use tax collections in Mesa County, $4.45 million for May, down 0.1% from May 2022.
n Unemployment s Mesa County — 2.9% for May, up 0.2. n Colorado — 2.8% for May, unchanged. s United States — 3.7% for May, up 0.3.
Latest Mesa County numbers reflect a tight, but stable, labor market Phil Castle
Bullock expects what’s traditionally a June jump in the jobless rate as high school and college students enter the May April The monthly unemployment rate has work force in search of summer jobs. But s Delta County 3.1 3.0 edged up in Mesa County, but remains at a seasonal employment offers businesses an s Garfield County 2.7 2.3 low level that reflects a stable, albeit tight, opportunity to tap into a different portion s Mesa County 2.9 2.7 labor market. of the labor force in developing the work s Montrose County 2.8 2.6 “It looks like it’s force, she said. s Rio Blanco County 2.7 2.3 staying pretty consistent While there’s the potential for a here,” said Lindsay recession to begin in 2023 that could exert Bullock, director of the Mesa County Workforce local effects, Bullock said she doesn’t foresee large swings in the Center in Grand Junction. unemployment rate in the second half of the year. “I think we’re The seasonally unadjusted unemployment going to level off.” rate increased to 2.9 percent in May, according Seasonally unadjusted jobless rates also rose in neighboring to the Colorado Department of Labor and Western Colorado counties in May — up a tenth of a point to Employment. That’s up two-tenths of a point 3.1 percent in Delta County, two-tenths of a point to 2.8 percent in Lindsay Bullock from a revised 2.7 percent in April and matches Montrose County and four-tenths of a point to 2.7 percent in both the same rate for May 2022. Garfield and Rio Blanco counties. For May 2023, Mesa County payrolls increased 443 to 75,058. The statewide seasonally adjusted unemployment rate But the number of people counted among those unsuccessfully remained unchanged at 2.8 percent. The state rate has remained looking for work also increased — 236 to 2,269. The labor force, below 3 percent for 13 consecutive months. which includes the employed and unemployed, grew 679 to 77,327. According to the latest results of the household survey used to Over the past year, payrolls increased 409. The ranks of the calculate the unemployment rate, the Colorado labor force increased unemployed decreased 32. The labor force grew 441. 9,400 between April and May as the labor force participation rate Although the changes were small, Bullock said she was edged up a tenth of a point to 68.7 percent. The number of people pleased to see the labor force increase even as the monthly jobless counted among those unsuccessfully looking for work increased rate remained below 3 percent. 8,800. While the overall labor market remains tight, Bullock said According to the results of the establishment survey, nonfarm there’s been a move toward an equilibrium between a job seeker’s payrolls increased 3,900 between April and May. What was initially market and employer’s market. estimated as gain of 7,200 jobs between March and April was One measure of labor demand — the number of job orders revised downward to 6,100. posted at the Mesa County Workforce Center — increased in May, Since May 2020, nonfarm payrolls increased 30,200 — about but lags behind last year. 1.1 percent — with the largest gains in the leisure and hospitality Bullock said 819 job orders were posed in May. That’s up and professional and business services sectors. Employment from 744 in April and 727 in May 2022. Through the first five declined in the construction, financial activities and information months of 2023, 3,747 orders were posted. That’s down from sectors as well as the trade, transportation and utilities sector. 4,106 for the same span in 2022. Over the past year, the average workweek for Colorado Demand remains strongest in the health care and child care employees on private, nonfarm payrolls shortened two-tenths of sectors, she said. More employees will be needed in child care as an hour to 33.5 hours. Average hourly earnings increased $1.04 a state law soon takes effect and makes 4-year-olds eligible for 10 to $35.72. free hours of licensed preschool a week. F The Business Times
AREA JOBLESS RATES
County tax collections slip in May, but up for 2023 Mesa County sales tax collections slipped on a year-over-year basis in May for Mesa County with declines in the retail sector as well as other industry sectors. Sales and lodging tax collections increased in Grand Junction during the first quarter of 2023 compared to the same span in 2022. Mesa County collected more than $4 million in sales taxes in May, a decrease of eight-tenths of a percent compared to the same month a year ago. May collections reflect April sales. The county collected more than $2.3 million in taxes on retail sales in May, a drop of 3.1 percent from the same month last year. Decreases in tax collections on general merchandise, clothing and automobiles more than offset gains in other categories. Total tax collections in other industries rose 2.6 percent with gains in the hotel and restaurant, utilities and wholsale sectors more than offsetting losses in construction, manufactuting and transportation sectors. County use tax collections — nearly all of it on automobiles purchases outside the county, but used in the county — neared $431,000. That’s a year-over-year increase of 7.8 percent. Through the first five months of 2023, the county collected more than $19.5 million in sales taxes. That’s a gain of 2 percent
over the same span in 2023. Tax collections on retail sales totaled nearly $11.5 million, a decline of 1.8 percent. Tax collections increased in the hotel and restaurant and wholesale sectors, but decreased in the telecommunications sector. Use tax collections through the first five months of 2023 topped $1.8 million, a 3.3 percent increase over the same span in 2022. The City of Grand Junction collected more than $14.3 million in sales and use taxes in the first quarter of 2023, including the more than $2.6 million it received as its share of county sales tax. The total was more than $652,000 and 5 percent more than what was collected during the first qurter of 2022. City sales tax collections rose for almost every business classfication, with the biggest proportional gains in business-tobusiness and food services and drinking places as well as clothing, shoes and jewelry retailers. Tax collections fell for building materials, garden equipment and suppplies as well as furniture, electronics and appliances. The city collected nearly $614,000 in lodging taxes on hotel and motel stays during the first quarter of 2023. That’s an increase of almost $35,000 and 6 percent from the first quarter of 2022. F
Page 20
The Business Times
June 22-July 12, 2023
Small business index rises, but reflects concerns A monthly measure of confidence among small business owners edged up, but still reflects concerns. The National Federation of Independent Business reported its Small Business Optimism Index rose four-tenths of a point in May. But at 89.4, the index remained below its historical average of 98 for a 17th consecutive month. Bill Dunkelberg “Overall, small business owners are expressing concerns for future business conditions,” said Bill Dunkelberg, chief economist of the NFIB. “Supply chain disruptions and labor shortages will continue to limit the ability of many small firms to meet the demand for their products and services.”
The NFIB bases the index on the results of monthly surveys of members of the small business advocacy group, most of them small business owners. Between April and May, four of 10 components of the index increased, five decreased and one remained unchanged. The proportion of members who responded to the survey upon which the May index was based who expect the economy to improve fell a point. At a net negative 50 percent, more members anticipated worsening conditions. A net 25 percent reported plans for capital outlays, up six points. But only 3 percent said they consider now a good time to expand, unchanged. The share of members who said they expected increased sales fell two points. At a net negative 21 percent, more anticipated decreased sales. Expectations for earnings dropped three points to a
net negative 26 percent. Among those reporting lower earnings, 29 percent blamed lower sales and 26 percent cited rising material costs. A net 19 percent of members reported plans to increase staffing, up two points. A net 44 percent reported hard-tofill job openings, down a point. Among those trying to hire in May, 89 percent reported few or no qualified applicants. Asked to identify their single most important problem, 25 percent answered inflation and 24 percent cited quality of labor. The proportion of members who reported plans to increase inventories rose three points. But at a net negative 2 percent, more expected decreased inventories. The share of those who said current inventories were too low rose two points to a net negative 3 percent. F
Trends Contributors Opinion The principles of CARE Business Briefs Business People Almanac
June 22-July 12, 2023
The Business Times
Page 21
COMING ATTRACTIONS
n A variety of presentations are scheduled at the Business Incubator Center in Grand Junction. A bookkeeping boot camp is set for 9 a.m. to 2 p.m. June 22 at the center, located at 2591 Legacy Way. Participants will learn how to set up and use accounting records and what balance sheets, cash flow projections and income statements indicate about operations. Admission is $75, which includes lunch. A small business startup workshop is set for 2 to 4 p.m. July 6. The workshop will cover the business planning process, including financing, legal structures, licensing requirements and state registration. Admission is $55. A presentation on preparing cash flow budgets for small business startups is set for noon to 1 p.m. Juy 18. To register for or obtain more information about events, programs and services at the Business Incubator Center, call 243-5242 or visit https://gjincubator.org. n The Fruita Area Chamber of Commerce has scheduled its state of the community breakfast. The event is set for 8:30 to 10:30 a.m. June 28 at the Absolute Prestige Ranch, 1351 Q Road in Loma. Local, state and national officials are expected to attend to review the past year and talk about their goals for the years ahead. Admission is $20 for chamber members, $30 for others. For more information about the Fruita Area Chamber of Commerce and upcoming events, call 858-3894 or visit https://fruitachamber.org. n The next BizMix networking event is set for 5:30 to 7 p.m. July 13 at Imodi Wake Zone, 1583 Cipolla Road in Fruita. The event will bring together members of the Fruita, Grand Junction, Palisade and Western Colorado Latino chambers of commerce as well as the Young Professionals Network of Mesa County. Admission is $10. n The next Coffee Club free networking meeting is set for 9 to 10 a.m. July 21 at the F Works conference room at 325 E. Aspen Ave. in Fruita. For additional information, visit the website at https://fruitachamber.org or call 858-3894.
HR professionals play crucial role in workers’ compensation
Human resources departments play a key role in ensuring the well-being of employees. One crucial aspect of HR management is workers’ compensation, which provides medical and financial benefits to employees who suffer work-related injuries or illnesses. True care for employees extends beyond fulfilling legal obligations, however. As Jon VonderHarr, a safety consultant with Pinnacol Assurance, discussed at his presentation at the 2023 Rocky Mountain Home Care, Home Health & Hospice Conference, HR professionals should embrace the principles of CARE — compassion, assuming positive intent, reacting and demonstrating empathy. Jenny appropriately n Compassion lies at the heart of Kelly caring for employees. HR professionals must care about the well-being and happiness of their work forces. This means recognizing employees as individuals with unique needs and circumstances. By adopting a compassionate approach, HR departments foster trust, respect and support. n Assuming positive intent constitutes a fundamental aspect of effective HR management. It involves giving employees the benefit of the doubt and assuming their actions and intentions are rooted in good faith. When HR professionals approach employee issues with an open mind, they foster an atmosphere of trust and collaboration. By assuming positive intent, misunderstandings are resolved more amicably, relationships are strengthened and employees are more likely to feel valued and supported. n Reacting appropriately to employee concerns and issues is crucial. An appropriate response involves active listening, understanding the problem at hand and providing timely and effective solutions. Whether it’s addressing conflicts, performance issues or work-related injuries, HR professionals should strive to handle situations with fairness, transparency and professionalism. Reacting appropriately not only resolves immediate problems, but also prevents future issues from escalating. n Empathy is an essential skill for HR professionals to cultivate. It involves understanding and sharing the experiences, feelings and thoughts of employees. By demonstrating empathy, HR departments create a safe space where employees feel heard and understood. This can lead to improved morale, increased job satisfaction and reduced stress.
LEGISLATIVE UPDATE PLANNED
The Western Colorado Human Resources Association and other co-sponsors have scheduled a free legislative update from 3:30 to 5 p.m. July 19 at the Mesa County Workforce Center, 512 29 1/2 Road in Grand Junction. The Bechtel & Santo law firm will offer information about Colorado’s new discrimination and harassment law as well as recent changes to the Equal Pay for Equal Work Act and Colorado Healthy Families and Workplaces Act. There’s room for 200 participants. A virtual presentation is planned. Online registration opened June 22 at www.wchra.org.
It also allows HR professionals provide tailored support and resources to meet the unique needs of employees. In applying CARE principles to workers’ compensation, HR departments go beyond the basic requirements of providing benefits. Compassion and empathy are essential in managing the physical and emotional effects of workplace injuries. HR professionals should check on injured employees, provide guidance on the claims process and ensure access to necessary medical care and rehabilitation services. Assuming positive intent is particularly crucial in managing workers’ compensation cases. Rather than assuming an employee is exaggerating an injury or taking advantage of the system, HR professionals should approach each case with an open mind and investigate objectively. Reacting appropriately involves promptly addressing workers’ compensation claims, coordinating with insurance providers and ensuring employees receive the support they need during their recovery. Caring for employees goes beyond mere compliance with workers’ compensation regulations. Applying CARE principles fosters a win-win situation for employees and employers. Jenny Kelly is human resources director at SummitWest Care in Grand Junction as well as director of public relations and marketing for the Western Colorado Human Resource Association. For more information about the organization, visit www.wchra.org. F
Page 22
The Business Times
June 22-July 12, 2023
Hire top performers, develop them and thrive If you want your experience as a business owner to be more enjoyable and rewarding — and your company increasingly successful — it’s imperative you consistently work toward building and maintaining a dynamic and empowered team. This is accomplished by putting skilled and motivated individuals with positive attitudes in place and then helping them develop and use more of their potential on a regular basis. Are you interested in greater efficiency and productivity? Do you want to reduce costly turnover? Would you like your business to operate with fewer errors and interruptions to the flow of operations? Does deriving Marcus more joy from owning and running Straub your business interest you? The first and most effective step to build a competent, motivated and engaged team is to hire intelligently. Unfortunately, the typical path to hiring is filled with biased or incorrect information and involves guesswork. This path often leads to poor hires. The job of successfully assembling a team of skilled, motivated and solution-oriented people is made far more difficult without the reliable data needed to do so. This is where accurate and proven candidate assessments come in. When this approach is used, productivity rises 30 percent and retention increases 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 step of building and maintaining a
The first and most effective step to build a competent, motivated and engaged team is to hire intelligently.
powerful team requires you to provide professional development opportunities. Like the first step, this next one is best accomplished with the 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 players so they, your clients and business experience more fulfillment, happiness and success. Do you provide team members with the professional development they need to be their best? People thrive when praised for a job well done. Recognizing team members’ solid efforts and working with them in constructive ways to reach for higher levels of excellence builds self-esteem, competency and confidence. This results in greater levels of performance and job satisfaction. When people believe in themselves, it’s amazing what they can accomplish. How are you doing with this third step of building and maintaining a powerful team? One of the surest ways to damage a business from within is to hire ineffectively, not support continued learning and growth and undermine solid 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-worth, self-confidence and self-esteem in team members and also undermine the culture of a 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 work 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? You have the opportunity to help team members find and develop their strengths and come alive as engaged players in your business. Bring in a qualified professional coach or consultant, use candidate assessments, consistently offer quality professional development opportunities and welldeserved praise and recognition. Work with your people to become top performers, and your well-chosen team will help you to reach new heights in your business operations. If you find yourself at a loss for how to do this, explore your options and choose a coach or consultant best suited to you and your business. There’s strength in engaging quality professional help. In doing so, you’ll sidestep costly and time-consuming pitfalls and provide a powerful example for team members to follow. Marcus Straub owns Life is Great Coaching in Grand Junction. His personalized coaching and consulting services help individuals, business owners, executives and companies build teams, organizations and lives filled with happiness and success. Straub is winner of the International Coach of the Year Award and author of “Is It Fun Being You?” He’s available for free consultations regarding coaching, speaking and trainings. Reach Straub at (970) 208-3150, marcus@ligcoaching.com or through the website located at www.ligcoaching.com. F
June 22-July 12, 2023
The Business Times
Page 23
What’s your business worth? Take steps to find out Much like real estate, there are both objective and subjective considerations when valuing your business. Overvalue it and run the risk of finding no buyers. Undervalue it and leave money on the table. Fortunately, resources and professionals are available to help you make a reasonable estimate of the value of your business. The value of a business includes such assets as cash, equipment, inventory, real estate and receivables. These are tangible assets that have specific values, although at the time of a sale they could be discounted or inflated depending on the market for your business and interest of potential buyers. Overvaluing such assets as real estate and receivables could lead to Janet overpricing your business and delaying preventing a sale. Arrowood or even The following examples provide some brief explanations of valuation methods you might consider. There are six main methods of valuing a business — market capitalization, times revenue, earnings multiplier, discounted cash flow, book value and liquidation value. The simplest way to value your business is to determine your market capitalization. Take the number of outstanding shares and multiply them by the current share price. If you have 1,000 shares outstanding and the price is $40 a share, the market capitalization of your business is $40,000. This method might not reflect the true value of your business, though, so consider one of the other five methods. If you have a reliable, steady revenue stream you might use the times revenue method. In this approach, you take your revenue stream over some stated period of time and
To ensure you get the best valuation, there are a few other steps you can take. Much like selling a house and clearing out the clutter and putting the property in the best possible condition, there are ways to fetch a higher selling price.
apply a multiplier based on the current economic climate and your industry category. A professional valuation expert can assist with determining your multiplier. The earnings multiplier method often provides a more realistic valuation than the times revenue method since this method is based on profits rather than earnings. When using this method, you normally want to use in the calculation earnings before interest, tax, depreciation and amortization (EBITDA). Multipliers are available online, including the site at https://www.equidam.com/ebitda-multiples-trbc-industries. Businesses that produce a product often have a higher multiplier than a service or consulting company. The discounted cash flow multiplier is similar to the earnings multiplier. This method looks at future cash flow estimates and adjusts them to current conditions. In effect, this adjustment generates a present value discounting inflation. Book value provides a straightforward way to determine the value of a business. This figure comes directly from your balance sheet. Simply subtract total liabilities from total assets.
Finally, you could use the liquidation value method, especially if you have tangible assets with actual value. This method is based on the amount of money you’d receive if you sold all the business assets and paid off all your liabilities. The preceding is only a partial listing of valuation methods. To ensure you get the best valuation, there are a few other steps you can take. Much like selling a house and clearing out the clutter and putting the property in the best possible condition, there are ways to fetch a higher selling price: n Develop a business plan for the future and show how your business could grow and prosper. n Sell or dispose of old inventory and equipment. n Prepare historical and projected financial statements to show why your business is a good value. n Make sure everything works. Get the office, factory floors or other business locations in good shape. n Demonstrate accounts receivable are actually collectable. n Resolve any outstanding issues and debts. If you’re looking for a professional to handle your business evaluation, seek someone who’s Accredited in Business Valuation (ABV). This professional designation indicates the person has taken a course of study and passed examinations in addition to taking continuing education courses. 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
Page 24
The Business Times
June 22-July 12, 2023
Different situations require different leadership styles My last column provided the first part of a two-part piece about the need for leaders to look for opportunities to change their leadership styles. This is nothing that should be done “willy-nilly” as me sainted grandmother used to say. Rather, leaders should remain keenly aware of not only their business environments, but also changes in the employment landscape. I bring this subject up because by the end of this decade, the vast majority of employees will be entirely different than those in the past. Tim Situational ethics isn’t a bad Haggerty thing. Situational ethics is all about making moral decisions based on the entirety of a situation. Instead of judging according to absolute moral standards, one must throw away all other reason and hold to the law of love in all things. In other words, situational ethics is about making those decisions that best meet the needs of all based on the highest form of love and charity. The realization forced me to throw out the window my belief situational ethics were a form of prostituting convictions. I’ve since come to appreciate situational ethics as a means of forcing me off my high horse and acknowledging I don’t have all the answers all the time. That frees me to think of another term to round out
the discussion: situational leadership. Introduced by Paul Hersey and Kenneth Blanchard in the 1960s, the situational leadership model is one of the most commonly used leadership styles. According to the model, leaders should use different leadership styles according to the situations they encounter. From the Dictionary of Business Terms: Situational management is a method whereby the current state of the organization determines what operational procedures will be implemented to achieve desired outcomes. Situational management emphasizes an adaptive style. Situational leadership is best represented through the Hersey-Blanchard Situational Leadership Theory, which promotes the situational leadership model. The theory focuses on the situation a team is in and the maturity of subordinates to arrive at what is closest to the right leadership style for a given situation. Tim Cook, chief executive officer of Apple, is often described as methodical and no nonsense. Unlike his maverick predecessor, Cook appears to delegate more effortlessly. While Cook’s leadership has sustained profitable iPhone and iPad product lines, his leadership has yet to produce the next groundbreaking product. Merissa Mayer at Yahoo and Steve Ballmer at Microsoft were branded with such words as autocratic and dictatorial at some stages in their leadership tenures. The core question stands. How easy is it for leaders to change their leadership styles? Leading people and situations isn’t a one-size-fits-all
game. Leadership styles evolve, and different situations demand different styles. Based on the situations they must address, leaders are expected to vary the degrees of two aspects of management — task orientation and people orientation. If a follower is of low maturity, the model suggests having a high task orientation and high relationship orientation. This model is widely used to teach the nuances of leadership. It makes one basic assumption: A leader can learn to adapt to a new style or switch leadership styles quickly. While it might be natural for some, for the majority it’s not so effortless to change leadership styles from moment to moment. Leaders have to act like someone else when not dealing with their natural styles. Leadership styles can and must change. But leaders must be taught. And they must be willing to change.
We wait all year, it seems, for summer to arrive. Aah … it’s finally here. When most of us think of summer, we think about outdoor fun and a chance to kick back. Beware, though: Changing schedules also could make it more difficult to keep your fitness routine on track. So what can you do to have the most active, fun-filled and productive summer ever? Warm weather offers opportunities to enjoy outdoor activities. Take the Paula family camping, fishing or hiking. Work in your garden. Part of summer fun and Reece fulfillment is enjoying the outdoors and the people you’re with. During the summer months, your normal schedule could be altered. Those changes can affect daily routines, including exercise schedules. Here are a few tips to avoid sabotaging yourself this summer. n Set a summer goal. It’s almost mid-year. Ask yourself how you’ve done so far this year on your New Year’s resolutions. You might have succeeded in some
areas, but not others. You could need to re-evaluate your goals to make them more realistic and attainable. Maybe you didn’t set goals. This is a great time to start. Try setting a different goal. Called it summer 2023. What will that goal look like? It might be trying a new sport, learning to swim or visiting a national park. n Stick to a schedule. Make sure your summer days include some structure — like getting up at the same time each day and eating meals at set times. Plan activities for specific times — exercising before breakfast, for example. n Keep busy. Without your appointment book filled, it could be easy to fall into a trap of becoming bored. Boredom goes hand in hand with low energy. Filling your days with things to do will give you a sense of accomplishment. For many of us, summer still means going to work each day. But with more daylight hours, you don’t have to miss out. Whether you’re taking a vacation or just a weekend, include activities the family already enjoys — along with something new. n Manage the heat. Although warmer weather is appreciated, hot days can seem unbearable. During these times, move your activities elsewhere. Exercise at the gym or splash in a pool. When you find yourself outdoors
during scorching temperatures, remember to stay safe. Wear sunscreen or a long-sleeve shirt to protect your skin from harmful rays. Don’t forget sunglasses and a hat, too. Clothing that wicks moisture away from your skin as you perspire keeps you cooler. One of the most important items to keep you safe is water. Stay hydrated. n Eat healthy. This seems like an easy thing to do with all the fresh vegetables and fruits available. Beware, though, of some of the foods associated with summer events. Backyard barbecues, campfire s’mores and ice cream treats can ruin the best-laid plans of staying fit through the summer. Make summer a time to enjoy. Write down your summer 2023 goals and work toward realizing those goals. Make the most of every day, and you’ll make this summer your best ever.
Tim Haggerty and his wife, Bernadette, operate a consulting firm based in Grand Junction that helps clients transition from command and control to servant leadership and change the view of wages and benefits from expenses to investments. Haggerty brings to the venture more than 40 years of experience in operations management and a record of decreasing costs while increasing productivity and revenue. He also serves as vice president of the Grand Junction Kiwanis Club. Reach him at info@timothyhaggerty.com, (610) 737-0496 or www.timothyhaggerty.com. F
Beat the heat this summer with these five fitness strategies
Paula and Dale Reece own Crossroads Fitness Centers in Grand Junction with a downtown location at 225 N. Fifth St. and north location at 2768 Compass Drive. For more information, call 242-8746 or visit the website located at www.crossroadsfitness.com. F
June 22-July 12, 2023
The Business Times
Page 25
Startup nation offers lessons in driving growth Israel has emerged in recent years as a global leader in innovation and economic development, earning the moniker Israel Startup Nation for the vibrant entrepreneurial ecosystem that’s fostered startups and driven economic growth. I’ve lived, traveled and volunteered in Israel and would like to share some of my observations about why such a small country has become such a powerhouse of innovation. The heart of Israel Startup Nation is a spirit of innovation that permeates the culture. This mindset encourages entrepreneurs to think big, take risks and challenge the status quo. Israelis maintain Dalida an unwavering belief in their ability to contribute to the betterment of society Bollig by offering groundbreaking solutions to global challenges through their startups. The collaborative efforts of various stakeholders further promote this ecosystem. Educational institutions, industry leaders, government agencies, organizations and venture capitalists work together to support startups by providing funding, mentorships and other resources. This network creates a nurturing environment in which startups flourish. Israel Startup Nation has become synonymous with technological advancements. Startups in such diverse fields as agriculture, artificial intelligence, biotechnology and cybersecurity push the boundaries of innovation. By embracing cutting-edge technologies, Israeli startups position themselves at the forefront of global innovation and drive economic growth through disruptive solutions. Government agencies provide grants, loans and tax incentives. Organizations offer networking, mentorships
By embracing an innovation-driven mindset, fostering collaboration among stakeholders, investing in research and development and creating supportive funding mechanisms, Mesa County can cultivate its thriving startup ecosystem.
and space. Angel investors and venture capitals remain eager to invest in startups. And an encouraging community adapts to new technological advancements. This supportive landscape enables startups to grow rapidly. Startups have become a significant driver of economic growth in Israel, creating employment opportunities and contributing to gross domestic product. These dynamic ventures often excel in high-value sectors, attracting foreign investments and generating jobs that fuel prosperity. Israeli startups also possess a strong global outlook, actively seeking collaborations and expanding into international markets. Their solutions and technological prowess have garnered attention and partnerships from global corporations, solidifying Israel’s position as a worldwide hub for innovation. The success of Israel Startup Nation offers valuable lessons for countries and regions seeking to replicate its achievements. An entrepreneurial culture fosters a mindset of innovation and risk-taking. Nurturing aspiring entrepreneurs, celebrating success stories and promoting entrepreneurship from an early age cultivates a thriving ecosystem. So does building a collaborative network
connecting academia, government, industry, investors and organizations. True collaboration means sharing knowledge, pooling resources and providing mentorship opportunities. Academic research and development drive technological advancements that further fuel innovation. Allocating resources to startups and facilitating research and testing fosters a knowledge-based economy and the foundation for sustained growth. Mesa County and Western Colorado can draw inspiration from Israel Startup Nation and apply its successful principles to economic development. By embracing an innovation-driven mindset, fostering collaboration among stakeholders, investing in research and development and creating supportive funding mechanisms, Mesa County can cultivate its thriving startup ecosystem. While the landscapes might differ, we share many similarities with Israel’s journey. By leveraging such strengths as our natural resources and local talent, we can promote an economic development ecosystem that supports startups, addresses needs in a range of industry sectors and promotes entrepreneurship and innovation. Dalida Sassoon Bollig, chief executive officer of the Business Incubator Center in Grand Junction, is an experienced strategist with demonstrated work in international affairs. She brings to her duties experience in economic development, entrepreneurship, leadership, partnerships, public policy and trade. The Business Incubator Center hosts seven programs: The Grand Junction Small Business Development Center, Business Loan Fund of Mesa County, F-Works, Mesa County Enterprise Zone, GJ MakerSpace and two incubator programs. For additional information, call 243-5232 or visit https://gjincubator.org. F
Contributors Opinion Bold predictions formatters: 2015 Mandate that Small details and big pictures A new year affords Business Briefs more like not-so-bold repeats both crucial in the final analysis Do what’s essential a new opportunity Business People Almanac to meet local needs THE he BUSINESS usiness T T Times IMES
PAGE age 26 22
Yet another benefit of working as editor of a business journal is the opportunities the job affords to explore developments, issues and trends on both an individual and collective basis. I interview sources and collect information for stories, then assemble those stories for print and online editions. It’s sort of like viewing pointillism painting. Lean in and peer closely,brings and allanyou’ll see are dots color. Butand step back, A new year almost always opportunity for aoffresh start in the bigger picture. The experience can be as renewed ambition toand do you’ll things take better. as itdown is revelatory. I suppose the other analogy — In business, thatastonishing usually boils to providing customers better products andat admonition involves trees and forests. and services faster and lower cost— than competitors. Part of the process must Not counting the lemonade I used to peddle front of my include listening to customers to determine what they actually needinand then house as a kid, I’ve never operated a business. So I don’t meeting that need. After all, it does little good to offer the latest and greatesthave if much experience or authority upon which to draw. But as a paid nobody actually wants what you’re selling. observerthat of business forthe nearly a quarter of a Junction century, IArea believe Just like the businesses belong to group, the Grand I’veinvariably learned notstarts onlyout the the limitations individual dots of data, Chamber of Commerce new yearofwith a reassessment of but alsoit the importance of occasionally connecting them. the services and resources provides and how well they match with members Phil Castle short story all this serves as the lengthy needs. Jeff Franklin, the To newmake chairman of thelong, chamber board of directors, introduction to the actual topic. And that’s whatfor individual personifies this approach in describing what he considers his role the coming stories abouttotourism, commercial estate andand thethen labormeet market collectively year: listen members, determinereal their needs those needs. It’s a reveal about the Grand Valley economy. role with which Franklin is familiar as market president of Bank of Colorado. IThe always hope readers make time structured to, well, read in entirety the stories in the process will take on a more approach in what the chamber Business Times. The so-called inverse aptly pyramid structure of journalism presents plans as the resumption of a program called Listening to Business. Underthe the most important information first. Still, in there’s a lotinterviews to be gleaned from what follows program, business owners participate in-depth to identify barriers to the opening paragraphs. growth and other problems they encounter. To review, though, forecasts tourismclub. season and commercial The new year offersthe a good timefor to the joinsummer the proverbial real estate remain mostly upbeat. At least according to the sources I interviewed. As an advertiser or reader, what do you need from the Business Times? Lower gasoline prices andtraditionally pent-up demand forand travel are likely to makenews what’s While business journals gather report the relevant to already busiest time ofisn’t yearnecessarily for tourismathat much busier. Higherespecially interest rates readers,the communication one-way street. That’s true as and affect real estate activity, butever. there’s underlying Webinflation sites andcontinue e-mail to make thecommercial dialogue more convenient than strength in the market. That includes investor demand, growing businesses andofthe Good publications don’t exist in a vacuum. They respond to the needs increasing attraction of the Grand Valley as a place to work and live. advertisers and readers. They provide what’s needed. The seasonally unemployment rate in Mesa County edged So what do you unadjusted need? up two-tenths of a point for May. Butthat at 2.9 percent, remains Is there additional news coverage would help the keeplatest you rate informed about comparatively low and at a level to reflect tight labor market. local business developments? Are that therecontinues features that wouldabe interesting or While June jumpmake in joblessness, source at Mesa County useful?there’s Is thereusually advice athat would your jobs amy little easier? Workforce Center expects the rate to retreat and then remain stabletime for to the It’s equally important to ask what you don’t need. With limited remainder of theand year. produce content limited space in which to publish it, would time and space be what, then, do theseelse? stories reveal about the economy? I’m a Pollyanna betterSodevoted to something who What’s tends togood? see glasses as half full. I’d contend nonetheless the big picture What isn’t? What’s needed? What isn’t? constitutes an encouraging one. Let us know. Send us an e-mail. Comment online on the Business Times Web Challenges remain. They nearly shortage of labor is made site at www.thebusinesstimes.com. Youalways could do. evenAwrite an old-fashioned letter to even worse a shortage affordableboth housing. Higher interest rates and and the editor if by you’d like. Youroffeedback, positive and negative, is valued inflation make matters worse and the cost of living costlier. The specter of a will be carefully considered. national exerting local effects lingers. Goodrecession publications are the result of not only the efforts of their staffs, but also Overall, though, I’d assert the news mostly good. Individually and collaborative efforts involving advertisers remains and readers. collectively. Like any other good business, we want to listen to our customers, find out what they need and then meet those needs. Phil It’s Castle is editor the Business Reach him at phil@thebusinesstimes.com a new year. of Please help us Times. to do so. or 424-5133. ✦ 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. © 2023 — All rights reserved.
IIt’s gotthat a call theofother from time year day when someone who would consider a resolutions andmany prognostications abound. “community leader.”applied Yes, I to used quotation My favorite saying New Year’s marks. That’s because “community resolutions is in sayingmost they’re basically a leaders” self-proclaimed or put bunch ofare promises to break the firstinto week their roles by special of January. And whileinterest I won’tgroups. predictOr a they’ve gotI can job pretty titles ormuch own accurately something. whole lot, Usually a lot of money. There question are other nail a few things that without ways. But the list is long and, see to me, notare will make news. You will these very pretty,distinguished. well, predictable: I■can assure my Prediction one: readers the person on There will be some the end of the sortother of weather event, line wasdisaster someone natural orwho cares andoccurrence deserves heinous recognition, but would where someone will have no use for the be interviewed andtitle say “community leader.” the following: “I’ve Sadly, a hobgoblin never seen anything only adored by little like that in my statesmen, philosophers lifetime.” It’s as if this Craig Hall Hall and divines. Me? I’m a Craig person is a required bit of a non-conformist. attendee at every news Perhaps musings on Ithese pages have reportingmy event. While understand most already many that people’sgiven perspective canclue. indeed be limited when thewithin, phonetheir message by, orSo, contained own came personal across my desk weekend, experiences, it isover too the much to ask tolet’s just say some my reaction was, “Oh great,before consult historical perspective another ‘community leader’ mecan saying such a thing? Yes, thiscalling response to tell to mesome how events. I didn’tBut mean what I just apply when it comes wrote — inand between yellingI’m andpretty to weather naturaltheir disasters, condescension. In 23 yearsrepeating I’ve gotten sure this is simply history itself. just asas many, notmillions more, ofand those than the Same it hasiffor millions of “I really liked that” responses. Notmade to it! years. More important, the planet worry, both mean I’m doing my job. What didn’t were certain species. How’s Which feel compelled to say to all our that forIperspective? “community leaders,” “healthit experts,” ■ Prediction two: When comes to a “honorable gentlemen gentleladies” crime or something thatand occurs between and “good across the aisle” at is all humans, thefriends other required attendee essential. Just like everyone else’s jobs news reporting events is the person who — outside government — the are nicest essential. says this:of“They we’re just Although it was weekend, my people, and in no waya did I see something curiosity, gut and anxiety return like this coming.” Exactly.told No me oneto does the fearful I was. So, I did. mostcall, of the timeaswhen it comes to And sure enough, out of the gate came neighbors andright acquaintances. People should an not from but my be apology. surprisedBut at what goes me, on from time to caller. have to call me on time in“You their didn’t neighborhoods, towns andthe weekend.” upstairs at CraigyWorld, with peopleAh, theybut know because people are Igood. did. So now was on to a scolding for And for itthe times that they shouldn’t what I had the put into print. be shocked — audacity like with to politicians, repeat Except it wasn’t. I was expecting offenders and terrorists — where’s the pushback column thesurprise brouhaha interview on thatmy says, “Thisabout doesn’t at meMesa in theCounty least.”Public Health — a topic of which many have an opinion, butgood few ■ Prediction three: Something know much about. I feel compelled will happen economically, and the here to put an aside in fortake those whofor think theymost see government will credit it. The marionette strings running from Sixthpeople and recent example is gas prices, where Rood SixthI won’t and North. ask metowhy creditNot the referencing president for Ralph but is Gertrude low gasWaldo prices.Emerson, My answer simple:Stein, “There is no there can confirm it Government neverthere.” makesYou the price of by doing something the local media something go down and simply takesrefuses credit to andnews. just ask Janet Rowland, whotohas fordo good Gas pricing is subject no doubt whispered herself onare many many global factors.toNow there occasions, what heck does Craig government“Now, answers to the addressing some of want?” record, I’vefor been railing them toFor keeptheprices stable Americans, “thataways” since March 17, 2020. And but our government has none of them in not just here Riverthings City, itbut wayintothe place. Theinonly hasallinthe place
JJune 22-July 12, 2015 2023 ANUARY 15-28,
the at every in between to our longtop runand always hurtlevel consumers. Another “community leaders” on health. fact is that unemployment reaches a certain back weekend call.while To my levelBut based onto themy economy. And the surprise, the might next words informed I’d government brag the numberme is low, written the caller it’s moresomething than likelythat thetouched government did — ironically, from athat column based on low something to cause number being other leaders Bill and Ted — andcommunity not in a good way.in Conversely, when and their picks excellent adventure. my business up, it’s because It thewas people CliffsNotes thewidgets end of awho speech one who need toatbuy werenonot will everwidgets invite me to give. I’m about buying because the Yes, economy was to quote myself. contracting due to natural (or unnatural, Follow caused) your passion, cause no harm, government reasons, decided we stay ofsome otherwidgets. people’sThe lives unless betterout buy government it’s death and at all costs hadliterally nothing life to doorwith this. avoid■the government. And absolutely Prediction four: In keeping with embrace seconddoes, of it because things theevery government I predict it’s the all beautiful. Live and love government willfully manipulate thecompletely numbers to wherever life takes you. In other words: make the claim the economy is getting “Be other.” betterexcellent because to of each how hard it is working to me thoseAmericans.” words touched help Italltouched of us “working Now another. I’m no“Craig, Ralph Waldo. But say maybe you might say, you always this Craig the talent to occasionally about Richard Presidenthas Obama because you don’t publish some philosophical wordsI don’t on like him.” You’re right in a sense. self-reliance. everyone to of read know the man,I urge but what I know himtheand essay by Emerson theitsame name his thinking, I don’toflike or him oneatiota. least once. while I’m mandated at Before youAnd go off, however, I didn’t like the Business Times to write columns, it’s President Bush and his bailouts, stimulus essential I philosophize in freedom. and his abandoning the free market to save It’s market. essentialAnd because I’m essential. the free I don’t know him It’s essential because you’re does, essential. either. What the government and the It’s because mandated onlyessential thing it can do, iswe’re hurt the economy. to be good to one another andcriminals love onein Unless it does nothing or put another — not to command rulenothing over jail instead of partnering withand them, one another. Being is what brings the government doesessential will help. Always look us lovewhatever and joy. the It’s government the essentialsays at itpeace, this way, ingredients from what someofis the another it is doing, whatever thetoname law it out-of-date document life, or liberty is passing, or whateverabout the name goal and of the pursuit of happiness. Those to arethe words bureaucracy it is presenting rarely inthe thepolar pontifications and people,found expect opposite to occur. mandates of what modern leaders.” I guess I’m“community saying is that Mandates gettoyou perhaps it’s time get declared out of our own “non-essential.” Fifteen days slow the perspective. There’s plenty of to history spread turning into emergency powers books and historical research out there to that for yearsthat and all dissolve beginpersist to understand of thisthe has economy, happened supply before. chains And it and will livelihoods. again, The onlythe things in or thegovernment. past three whether topicessential is people yearsThe were to recommendation treat the sick, protect best is tothe find vulnerable our Google lives. some booksand or go try on thatwith whole Mandates you scooters,on the thing. There’s aalso lot get of information E-bikes, theaters, $200 Great Depression. The million truth is schools it wasn’t and millions for promising evenziplines a good — oneand until the government got ziplines. thought forgot about the involved.You There’s alsoI plenty of research next edition, didn’t you?period They also on the medieval warm whenget the you thewas titlemuch of “community leader.” planet warmer than todayMore with proof there’s littlepeople good in mandates. a whole lot less (and warmer well Essential getswas youhere quality infrastructure, before man at all). And yep, safe communities a life freesurprised of tyranny. people have been and killing other Mandates destroywas freedom because people since history first written. freedom is essential to love,will joyhelp and stop Maybe some research peace. My friend the phone we’ll knewbe that. all of these trends.onOtherwise, Isaying know we’ve that. Embrace your essential never seen anything like it in self-reliance. way to live. our lives. AndIt’s notthe in only a good way. Craig Craig Hall Hall is is owner owner and and publisher publisher of of the the Business Business Times. Times. Reach Reach him him at at 424-5133 424-5133 or or publisher@thebusinesstimes.com. publisher@thebusinesstimes.com. F ✦
June 22-July 12, 2023
The Business Times
Latest U.S. jobs report includes troubling signals about entrepreneurship The employment report for May from the U.S. Bureau of Labor Statistics presented some potentially troubling signals. First, it must be noted the two favorite takeaways from this report are in obvious contradiction. Total nonfarm payroll employment increased by 339,000 in May while the unemployment rate by 0.3 percentage Raymond rose points to 3.7 percent. Keating Hmmm. So, we experienced strong employment growth, but the jobless rate increased? What’s the deal? The monthly employment report includes data from two surveys. The establishment survey provides payroll numbers, while the household survey results are used to calculate not only the unemployment rate, but also the far more important labor force participation rate and employment-population ratio. While the unemployment rate actually is a dicey measure for a variety of reasons, the results in this case are pretty straightforward and stand in direct contradiction to the establishment survey. According to the household survey, employment in May declined 310,000, with the employment-population ratio dropping slightly from 60.4 percent in April to 60.3 percent in May. While we’ll have to wait and see which survey might point in the right direction regarding the labor market, it’s worth remembering the household survey better captures small business and startup activity. That leads us to look at the latest data on self-employment in this survey. The self-employed numbers in the monthly report capture people who say self-employment is their main work. They’re effectively full-time entrepreneurs. These entrepreneurs can have employees
Total self-employment fell from 17.034 million in May 2022 to 16.22 million in May 2023.
or not and are either unincorporated or incorporated. Since the data are seasonally adjusted, we can look at the numbers for the unincorporated self-employed month to month. For three consecutive months, the number of unincorporated self-employed have declined — from 10.119 million in February to 9.403 million in May. The May 2023 level was the lowest since the depths of the pandemic. Numbers for the incorporated self-employed aren’t seasonally adjusted, so need to look back to the same time last year. Incorporated self-employed registered 6.823 million in May 2022 and fell to 6.706 million in May 2023. For three months in a row, the number of incorporated self-employed were down from a year earlier. If we add in the unincorporated data, total self-employment decreased from 17.034 million in May 2022 to 16.22 million in May 2023. The household survey in May gives us plenty to be concerned about regarding employment and entrepreneurship. Hopefully, these matters will turn around in coming months — although the White House and Congress are doing nothing to aid matters on the policy front to encourage investment, risk taking and entrepreneurship. Raymond Keating is chief economist for the Small Business & Entrepreneurship Council. The nonpartisan, nonprofit advocacy, education and research organization works to protect small business and promote entrepreneurship. For additional information, log on to the website at www.sbecouncil.org. F
Page 27
Page 28
Opinion Business Briefs Business People Almanac
n GRANDE RIVER VINEYARD ADDS SPARKING WINE TO PRODUCT LINE
Grande River Vineyards in Palisade has launched a sparkling wine labeled Sante! “We’re so excited to add a traditional sparkling wine to our product line of mostly Bordeaux and Rhone varietals,” said Daniel Vice, manager of Grande River Vineyards. Derived from the French phrase votre sante meaning to your health, the wine was produced in the Methode Champenoise, Grand River Vineyards has launched a traditional process to a sparkling wine called Sante! (Photo make sparking wines. courtesy Grand River Vineyards) Vice said Sante! sells for $44.95 a bottle and pairs well with a variety of foods. Vice said Rainer Thoma, the winemaker at Grande River Vineyards, plans to increase production next year. Sante! is available at the tasting room at Grande River Vineyards, at the nearby Colorado Wine Country Inn and selected restaurants, Vice said. “I would encourage fans of traditional sparkling lines to come by for a tasting soon because we think Sante! is going to be a popular bubbly.” Richard and Jean Tally purchased Grande River Vineyard in 2021 from Stephen Smith, a pioneer in the Colorado wine industry who planted his first vines in 1987 and produced his first wine in 1990. The Tallys and their daughter, Anne Tally, are partners in Ten Acre Winery, doing business as Grande River Vineyards. They also operate the Colorado Wine Country Inn. Grande River Vineyards is located at 787 Grande River Drive. The tasting room is open from 9 a.m. to 5 p.m. daily. For additional information, visit the website at https://granderivervineyards.com or call 464-5867.
The Business Times
SHARE YOUR NEWS
NOTEWORTHY
The Business Times welcomes submissions for free publication in Business Briefs. Email items to phil@thebusinesstimes.com or submit a news release online at www.thebusinesstimes.com.
Elevation Family Dental has opened in a different location in Grand Junction with more space to accommodate the growing practice. “I am absolutely thrilled that we were able to find another office in the area,” said Dr. Judd Chamberlain, the dentist who operates Elevation J. Chamberlain Family Dental. The practice is located at 1190 Bookcliff Ave., unit 101. Chamberlain said the location keeps the practice close to Colorado Mesa University, but also offers a more comfortable experience for patients and room to accommodate the most modern equipment available. The staff expect to update the office further to create an additional treatment room. Elevation Family Dental offers preventive, restorative and cosmetic services that include checkups, cleanings, filings, root canals, dentures and implants as well as veneers and whitening. “We offer a wide variety of different kinds of dental services,” Chamberlain said. “We try to be a one-stop shop.” Chamberlain previously operated a private practice in Wyoming and worked at the Veteran Affairs dental clinic in Colorado Springs. He worked for six years at the Marillac Clinic in Grand Junction as associate dental director and clinic supervisor for dental students from Denver and Arizona. He holds a doctor of dental surgery degree from Uthe niversity of Nebraska-Lincoln and received advanced education in general dentistry at the Veterans Affairs Hospital System in San Antonio, Texas. For more information about Elevation Family Dental, call 245-2990 or visit the website at www.elevationfamilydental.com.
n GOLF CART AND LOW-SPEED VEHICLE DISTRIBUTOR CELEBRATES NEW GRAND JUNCTION STORE Legacy Carts Grand Junction hosted a ribbon cutting ceremony and grand opening event to celebrate its new storefront. Located at 2526 Broadway, the golf cart and low-speed vehicle dealership offers a selection of vehicles, including Royal EV and Advanced EV models. The carts can be used for golf, but also are legal to drive on a streets. The Grand Junction Area Chamber of Commerce participated in the ceremony. “We’re pleased to have Legacy Carts Grand Junction as a chamber member,” said Candace Carnahan, 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.” Legacy Carts Grand Junction is open from 10 a.m. to 6 p.m. weekdays and by appointment on Saturdays. For more information, visit the website at https://legacycarts.com/grand-junction/home or call (970) 712-4498. n ONLINE SURVEY OPEN THROUGH JUNE 30 TO ASSESS VIEWS ON PUBLIC TRANSIT SERVICES Mesa County and Grand Valley Transit will conduct an online survey through June 30 to learn more about how people use and view public transit. Survey results also will be used to set priorities for changes and improvements to GVT services. Andrew Gingerich, a transit planner, said he wants to learn what people need from GVT services and what changes would prompt people to ride buses more often. The survey is available at https://www.surveymonkey.com/r/ GVTcommunitysurvey. F
Mosquito control district enlists help to fight the bite The Grand River Mosquito Control District has once again asked residents to join in efforts to fight the bite as part of an observance of National Mosquito Control Awareness Week through June 25. Tim Moore, manager of the Grand River Mosquito Control District, said an increase in snowfall in the mountains and subsequent runoff has brought more moisture and mosquito breeding areas to the Grand Valley. Tim Moore “Survey your own property frequently for water sources and encourage your neighbors to also eliminate sources on their property,” Moore said. “Mosquitoes require water to complete their life cycle. If their water source is eliminated, so are their offspring.” In addition to draining standing water in roof gutters, old tires and other sources, Moore said it’s important for people to
June 22-July 12, 2023
remember the other two Ds of mosquito awareness — dress and defend. People who are outside when mosquitoes are active should wear light-colored, loose-fitting clothing, Moore said. Studies have shown mosquitoes are attracted to dark clothing and can bite through tight-fitting clothes. It’s important as well to apply a mosquito repellent to clothing and bare skin, he said. Repellents with DEET, picaridin and oil of lemon eucalyptus have been shown to be effective. Mosquitos are not only pesky, but also carry such dangerous diseases as West Nile virus that infect people as well as pets and other animals. The Grand River Mosquito Control District treats more than 2,500 private properties and 10,000 breeding sites as well as public open spaces in the Grand Valley. For more information, visit www.fightthebitegj.com. F
June 22-July 12, 2023
The Business Times
Page 29
Page 30
BusinessBriefs Briefs Business BusinessPeople People Almanac Business Almanac The Business Times
n HOPEWEST ANNOUNCES APPOINTMENT OF HOSPICE, PALLIATIVE CARE EXECUTIVE
Lindsay Kampfer has joined HopeWest based in Grand Junction as vice president of hospice and palliative care. Kampfer will lead efforts to provide care to patients facing lifelimiting illnesses and their families. She’ll also develop programs to meet the needs of communities. “I am honored to join HopeWest Lindsay Kampfer and to have the opportunity to work with such a dedicated and compassionate team,” Kampfer said.“I am committed to providing the highest quality of care to our patients and families and to working with the community to ensure that everyone has the access to the care they need.” Cassie Mitchell, president and chief executive officer of HopeWest, said she was thrilled Kampfer joined Cassie Mitchell the team. “She is a highly experienced and respected leader in the field of hospice and palliative care, and her passion for helping others is truly inspiring. I am confident that she will be a tremendous asset to HopeWest and to the community.” Kampfer brings to her duties more than a decade of experience, most recently as associate vice president of the Program of All-Inclusive Care for the Elderly operations at Bluegrass Care Navigators in Lexington, Ky. She’s also worked as a clinical social worker, counseling resource officer, facilitator of a Medicare care choices model and executive director of hospice and adult day health care. HopeWest operates an in-patient hospice center in Grand Junction and also provides hospice, palliative care and grief support services in an 8,000 square-mile region of Western Colorado. For more information, call 241-2212 or visit www.HopeWestCO.org. n REAL ESTATE PROFESSIONAL JOINS GRAND JUNCTION-BASED COMPANY Cynthea Hurst has joined the Tyler Harris Team at Bray & Co. Real Estate. Hurst assists buyers and sellers in the Parachute area and brings to her duties knowledge of the region and a dedication to client services. She’s lived in Western Colorado 15 years. “Our team is lucky to have Cynthea join us, and we are very Cynthea Hurst excited to serve the people of Garfield County,” said Tyler Harris, team leader. Based in Grand Junction, Bray & Co Real Estate offers residential and commercial services as well as construction, development, maintenance and property management. For additional information, visit www.brayandco.com or call 242-3647.
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.
Merrite Wyatt
Tyler Harris
Derek Irick
n BRAY & CO. AGENTS INCLUDED AMONG REALTRENDS TOP-RANKED PROFESSIONALS Three agents with Bray & Co. Real Estate based in Grand Junction were included in the latest RealTrends nationwide rankings of agents and teams. Merrite Wyatt ranked 69th in Colorado in transaction sides with 53.6 sides worth a total of nearly $22.6 million. Tyler Harris ranked 78th with 52.5 sides worth a total of almost $18.5 million. Derek Irick ranked 149th with 41 sides. The 2023 rankings are based on 2022 sales. RealTrends, a publishing and communications company that provides information about the residential real estate market, honors more than 27,500 agents who rank among the top 1.5 percent of the 1.6 million real estate professionals in the United States. n GRAND JUNCTION REAL ESTATE FIRM HONORS BEST-SELLING AGENTS FOR MAY Toni Heiden and Anthony Heiden were honored as the top-performing agents for May at Heiden Homes Realty in Grand Junction. Toni Heiden posted the most closed transactions and highest dollar volume in sales. Anthony Heiden posted the second most closings. The owner and broker of Heiden Homes Realty, Toni Heiden has Toni Heiden worked in the Western Colorado real estate market for 45 years. Anthony Heiden serves as chairman of the Grand Junction Area Realtor Association Young Professionals Network. Heiden Homes Realty operates offices at 735 Rood Ave. For more information, including listings for sale and rent, visit wwwheidenhomes.com Anthony Heiden or call 245-7777. See PEOPLE page 31
June 22-July 12, 2023
June 22 n Bookkeeping boot camp, 9 a.m. to 2 p.m., Business Incubator Center, 2591 Legacy Way, Grand Junction Admission $75, which includes lunch. https://gjincubator.org or 243-5242 n Welcome Thursday Friends networking group, noon to 1 p.m., Rib City, 455 Kokopelli Drive, Fruita. 858-3894 or https://fruitachamber.org June 27 n Grand Junction Area Chamber of Commerce business after hours, 5:30 to 7 p.m., Warehouse 25-sixtyfive, 2565 American Way. Admission for chamber members $10 in advance and $12 at the door. https://gjincubator.org or 243-5242 June 28 n Fruita Area Chamber of Commerce state of the community breakfast, 8:30 to 10:30 a.m., Absolute Prestige Ranch, 1351 Q Road, Loma. Admission $20 for chamber members, $30 for others. 858-3894 or https://fruitachamber.org June 29 n Fruita Area Chamber of Commerce Women in Business outing, 4 to 6:30 p.m., Jet Boat Colorado, 2237 Roan Creek Road, De Beque. Admission $30 for members, $40 for others. https://fruitachamber.org or 858-3894 n Young Professonals Network of Mesa County after hours, 5:30 to 7 p.m., Handlebar Taphouse, 417 Monument Road, Grand Junction. www.ypnmc.org July 6 n Fruita Area Chamber of Commerce Women in Business luncheon, noon to 1 p.m., Bank of the West, 141 N. Park Square. Admission $15 for chamber members, $25 for others. https://fruitachamber.org n Small business startup workshop, 2 to 4 p.m., Business Incubator Center. Admission $55. https://gjincubator.org or 243-5242 July 11 n Fruita Area Chamber of Commerce class on maximizing chamber membership, noon to 1 p.m., Fruita Civic Center, 325 E. Aspen Ave. 858-3894 or https://fruitachamber.org July 12 n Grand Junction Area Chamber of Commerce Networking at Noon, noon to 1 p.m., Smokin’ Oak Wood-Fired Pizza, 2478 U.S. Highway 6 & 50. Admission $20 for chamber members, $25 for others. https://gjchamber.org or 243-5242 Upcoming n BizMix networking event, 5:30 to 7 p.m. July 13, Imodi Wake Zone, 1583 Cipolla Road, Fruita. Event open only to members of participating groups. Admission $10. https://gjchamber.org or 243-5242 n Presentation on cash flow budgets for small business startups, noon to 1 p.m., July 18, Business Incubator Center. https://gjincubator.org or 243-5242 n Coffee Club networking meeting, 9 to 10 a.m. July 21, F Works, 325 E. Aspen Ave. 858-3894 or https://fruitachamber.org See ALMANAC page 31
The Business Times
June 22-July 12, 2023
People
Continued from page 30 n THREE APPOINTED TO BOARD OF DIRECTORS OF COLORADO WEST LAND TRUST Stacia Cannon, Mandy Harter and Hannah Holm have been a pointed to the Colorado West Land Trust board of directors. They help oversee a Grand Junction-based organization that’s conserved a total of more than 131,000 acres in Mesa County and five other Western Colorado counties. Cannon and her husband run a family orchard in Hotchkiss. She’s also served on the Delta-Montrose Electric Association board and Club 20 public lands and natural resources advisory committee. Harter works as a real estate agent in Grand Junction
Stacia Cannon
Mandy Harter
Hannah Holm
Holm works as associate director for policy for American Rivers, a national environmental organization with an office in Grand Junction. Before joining American Rivers, she co-founded and directed the Hutckins Water Center at Colorado Messa University in Grand Junction. For more information about the Colorado West Land Trust, call 263-5443 or visit cowestlandtrust.org. F
Almanac
Page 31
Continued from page 30 Upcoming n Fruita Area Chamber of Commerce coffee and community connections event, 8:30 to 10:30 a.m. July 26, Timberline Bank, 649 Market St., Grand Junction. https://fruitachamber.org or 858-3894 n Welcome Thursday Friends networking group, noon to 1 p.m. July 27, Strayhorn Grill, 456 Kokopelli Drive, https://fruitachamber.org or 858-3894 n Small business startup workshop, 2 to 4 p.m. Aug. 3, Business Incubator Center. Admission $55. 243-5242 or https://gjincubator.org n Maker meetup, 6 to 8 p.m. Aug. 7, GJmakerspace at the Business Incubator Center. https://gjincubator.org or 243-5242 F
Page 32
The Business Times
June 22-July 12, 2023