Denver takes advantage of a soaring economy with JumpStart 2017

Last week Denver introduced JumpStart 2017, its sixth annual strategic jobs plan for economic development.

“JumpStart is more than an annual strategy, it is a statement of values for how Denver builds a local economy that secures our community’s legacy and maintains our city’s unique character in the years ahead,” according to Mayor Michael Hancock, who unveiled the plan, put together by the Denver Office of Economic Development (OED).  “In 2017, our eyes are squarely focused on taking the necessary strides to help ensure that all residents have the opportunity to benefit from Denver’s vibrant economy.”

As such, the plan focuses on increasing economic mobility and establishes anti-displacement strategies in certain neighborhoods. In 2017 that focus will include the neighborhoods of Montbello, Westwood, Globeville and Elyria-Swansea. The strategies are designed to help uplift ailing neighborhoods while reducing urban poverty. 

The mayor’s office said that the JumpStart is helping to create jobs in Denver. The previous year’s report aided the development of nearly 3,000 new jobs and assisted the city in retaining 7,000 jobs, according to the office. The strategies helped spur $111.4 million in capital investments and also funded the creation of 579 affordable homes. 

“With strong employment and wage growth, Denver has led the nation as one of the most vibrant economies,” explains OED Executive Director Paul Washington. “We’ve thoughtfully identified goals for JumpStart that we believe will make the most of the opportunities before us.”

The 2017 strategies include encouraging developers of projects financed by OED to hire low-income residents for entry-level positions. It also will support the creation of a maker space, a collaborative space to allow entrepreneurs access to manufacturing resources. The plan will also help create cooperative business ownership models in the targeted neighborhoods.