The economy is looking up in La Plata County, according to several local business-savvy sources.
The La Plata County Economic Development Alliance met early Tuesday morning at the Fairgrounds Extension Building to update members about the county’s economic health, growth and changes.
Roger Zalneraitis, executive director of the alliance, broke the silence in discussing the big story around town – Mercury Payment Systems Inc.’s decision to sell to Vantiv for $1.65 billion. Zalneraitis reassured those in attendance that the sale could pose great potential for Durango’s economy.
“It’s a lot of very good news,” he said.
From his understanding, Vantiv has purchased two other companies since starting up in 2011. Vantiv, based in Cincinnati, seemingly has taken a hands-off approach. After the companies were purchased, they maintained their brand, identity and websites, Zalneraitis said. He believes Mercury will preserve its identity and continue to positively impact Durango’s economy.
There is an upside for economic growth in Denver and Durango because Vantiv was named as one of the top 25 fastest-growing technology companies in the U.S. by Forbes, he said.
Other speakers at the meeting shared mostly good news.
Some newer companies also seem promising, said Ed Morlan, executive director of Region 9 Economic Development District.
Morlan said that 2 out of the 3 startups that participated in this round of the Southwest Colorado Accelerator Program for Entrepreneurs received funding after “pitch day” May 5.
The accelerator program, which began last year, helps fund local companies so they can prosper and create job opportunities.
Starting such businesses at times requires counseling.
Joe Keck, with the Southwest Colorado Small Business Development Center, said the agency counseled 180 businesses in the last year. He said he expects the number to increase to 500 businesses in the next fiscal year. In the past, the agency did not do a good job at tracking impact, but he hopes that will change.
The city of Durango’s tax revenue has increased, said Mayor Sweetie Marbury. Sales taxes for March were up 7 percent compared with last year, she said. Also, lodgers taxes were up 16 percent.
“I think those are very healthy numbers for economic development,” Marbury said.
Issues regarding retail marijuana sales in Durango are scheduled to be resolved by May 20, she said.
Ignacio also is seeing some economic growth. Town Manager Lee San Miguel said plans are in the works to build a 60-unit rental property to house workers who commute to Ignacio, specifically gas and oil workers, he said.
Plans to build affordable single-family homes is among the town’s priorities, he said.
However, he was most proud of the remodeling job Ignacio High School underwent, expressing an emphasis on the importance of education and technology.
After various business sectors of the county gave their brief updates, Lacy Anderson, with the state Division of Vocational Rehabilitation, reached out to alliance members on behalf of the agency. The division works with employers to help and train potential employees who have various disabilities.
“Only 33 percent of people with disabilities are working,” she said.
She strives to work closely with alliance members to increase that number and employ more people in the area, she said.
vguthrie@durangoherald.com
