Page 16B—
COLORADO REAL ESTATE JOURNAL
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June 1-June 14, 2016
P
arker is located 20
miles from downtown
Denver, in Colorado’s
fastest-growing county. The Town
of Parker boasts a highly talented
and educated workforce, a high
quality of life that balances rural
living with the conveniences
and amenities of a large city.
The local community offers
ample opportunity for investors,
developers, business owners
and retailers. Businesses and
residents can take advantage of
the area’s numerous recreational
opportunities and excellent
school system.
The Town enjoys easy access to
Denver, Colorado Springs and
the rest of the Front Range via
the E-470 tollway, I-25 and public
transportation. DIA, Denver’s
international airport, is located
30 minutes away, and Centennial
Airport, a general aviation
airport, is located just 10 minutes
away. Both airports provide
travelers convenient access to
the rest of the country and the
world.
With a population of
approximately 50,000, the
21-plus-square-mile Town
of Parker boasts a median
age of 34 years of age and a
median household income of
$104,887. The Town’s favorable
demographics include a low
unemployment rate of 2.9%.
The Economic Development
Team provides full-service
economic development
assistance to existing, expanding
and relocating businesses, as well
as retail development.
Parker: TheRight
Location for Business
Parker is the perfect
location for business, and
various Town initiatives
support entrepreneurship and
innovation. Parker has placed
increased emphasis on economic
development, taking steps to
increase business recruitment and
retention, including a streamlined
approval process. Parker offers a
number of customizable business
incentives and small-business
assistance programs, including tax
credits, venture capital funding
resources and workforce training.
For those businesses considering
Parker as a potential location, the
Town’s existing real estate stock
includes a variety of office, light
industrial, retail and mixed-use
space available.
EconomicDevelopment
Incentives andPrograms
Understanding that each
business may vary in the type
of assistance needed and
each situation may differ;
staff customizes economic
development assistance packages
to the needs of each unique
company and/or situation. The
Town Assistance Package can
include rebates on permit fees
and/or construction use tax and
rebates on incremental sales tax.
The Parker Capital Grant
Program provides matching
funds for eligible property owners
and tenants to make capital
improvements to the exterior or
interior of the building, as well as
equipment purchases. The Parker
Capital Grant Programs seeks to
bring new life to existing buildings
by giving them a “face-lift” as well
as provide assistance to existing
businesses that are making interior
improvements and equipment
purchases. By assisting property
owners and business owners with
upgrades to their buildings, the
program improves the economic
vitality for all businesses and the
Town as a whole.
As part of the Town’s
commitment to small business
and entrepreneurs, Parker
also provides a Small Business
Scholarship Program. This
program allows for the
reimbursement of business
training expense to small and
home-based business owners/
employers with 25 or fewer
employees. To qualify, businesses
must be licensed and located
within the Town limits of Parker.
The scholarship program is
designed to allow for flexibility
in choosing the type of training
that enhances each business. All
courses that reasonably benefit the
business are eligible. Applicants
may choose courses from any
accredited institution or generally
accepted programs.
Parker Authority for Reinvestment
(URA)
The Town of Parker established
the Parker Authority for
Reinvestment (PAR) in 2006.
The purpose of PAR is to foster
development and redevelopment
that maintains the Town’s high
quality of life and public spaces
through alleviating and preventing
blight within the Town.
PAR currently administers the
implementation of three urban
renewal plan areas; Cottonwood
Commercial Area, Parker Central
Area and Parker Road Area. The
Town of Parker and PAR are using
the urban renewal area tool to
assist property owners to reinvest
in the area and provide necessary
public improvements.
Major/Current Employers
Within minutes of Parker there
are a number of Fortune 500
company headquarters in the
finance, communications, health
care and electronics industries.
Parker is a viable alternative to the
nearby Denver Tech Center and
businesses are able to leverage a
highly talented and well-educated
population, with direct access to
over 1 million people within a
20-mile radius.
Parker is home to an increasing
number of businesses and
industries including Medtronic,
Oralabs and Xssentials
Technology for Living. Welcoming
both large corporations and small
businesses, Parker’s list of major
employers also includes Parker
Adventist Hospital, Rocky Vista
University and a number of major
retailers.
Real EstateData andTrends
Existing commercial real estate
is available in the Town of Parker
for most any endeavor. The Town
of Parker’s economy is continuing
to improve year over year. The
Town’s overall commercial
vacancy rate dropped from 6.1%
at the end 2014 to 4.1% at the
end of 2015.
Parker has more room to grow,
with approximately 5,100 acres for
development and redevelopment.
Parker enjoyed the absorption of
approximately 120,000 square feet
of commercial space year over
year.
Weldy Feazell
Business Retention and Marketing
Manager, Town of Parker
Town of Parker
