CURRENT PLAN
Moffat County Goals
Back in 2016, Moffat County published a comprehensive economic development strategy intended to assess the county's economic and demographic trends, and then create an action plan to diversity the economy from coal reliance by 2021. The report concluded that with a focus on downtown redevelopment, the creation of critical community assets, and the creation of new industries, economic development and growth will unfold in Moffat County. One of the key project ideas proposed was a mixed-use downtown development that combines retail, commercial, professional offices, market-rate housing, restaurants, community spaces, a recreation center, a community/senior center, and open space.
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There was once a time when Craig was the economic, cultural and entertainment hub of northwest Colorado, and Yampa Avenue, the town's main street, was bustling with shoppers, cars, and restaurants. The town has deteriorated, however, and the city believes that the only way revive it is to rejuvenate the downtown scene. Discussed below are the benefits of some specific amenities that the city hopes to see.
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Historic Downtown Craig
Historic Yampa Avenue
Source: Moffat County CEDS
Source: Moffat County CEDS
Professional Offices
The 2012 Moffat County Consumer Preference Study estimated that 43% of doctor services and 29% of dental services for residents of Moffat County were being performed outside of the County. Per capita spending on health care in Moffat County is 30% less than the state average, and is nearly 60% less for health care services which primarily includes doctor visits, indicating the fact that residents are visiting medical professionals elsewhere. Expanding the number of specialists in Moffat County would allow the County to retain significantly more medical spending. The key, however, to attracting medical professionals to the area is attractive, available office space, and the city could achieve this through a renovated mixed-use development downtown.
Retail
According to the Consumer Preference Study conducted in 2012, 27% of household furnishings, 22% of clothing, 26% of entertainment activities, and 24% of recreational equipment are purchased outside of the County, excluding internet sales. These numbers show the tremendous potential Craig has to recapture these revenues by attracting retailers to the area. Private developers have expressed interest in bringing a movie theater or arcade to the town, and an entertainment attraction like this would be ideal for generating traffic and spurring tangential development.
Restaurants
The 2012 US Census revealed that Moffat County has 20% more full-service restaurants per capita than the state average, but the total per capita spending on restaurants is only 55% of the state average. This discrepancy is in part due to the fact that Moffat County is under-consuming dining out, by nearly half, compared to the rest of the state. It is also due to the fact that there is a disproportionate number of restaurants in the County, but they have significantly lower sales than the state average. Additionally, the Consumer Preference Study found that 13% of restaurant spending left the county. If new restaurants were built in vibrant, dynamic development areas, it may be a catalyst that encourages residents to dine out and alter their consumption patterns.
Current Budget
In October 2019, the city of Craig unveiled a 2020 budget bolstered by revenues from the city's recently passed sales tax. The budget set aside for another Craig Police Department officer, economic development, heavy equipment and storm infrastructure, wave pool improvements, and a new white water rapid structure on the Yampa River. There is also roughly $1.6 million in new grants the city plans to use for an innovation center, river improvement, and sewer projects. Compared to Craig's general fund of nearly $8.3 million in 2017, the 2020's proposed general fund budget is up to nearly $11.4 million.
Programs & Initiatives
Moffat County Business Opportunity Toolkit
Craig recently implemented, and will continue to utilize, the Moffat County Business Opportunity Toolkit that outlines four incentives for businesses expanding to Moffat County.
Provide tax credits to investors who spend money on job training, new employees, healthcare for employees, research and development, vacant commercial building rehabilitation, and more.
Craig is an opportunity zone, providing relief from income taxes for capital gains that are reinvested into an opportunity fund. These tax breaks could be permanent if investment in opportunity fund is held for 10 years.
Moffat County is a designated Colorado Rural Jump Start program zone for up to 8 years of rebates for business personal property tax, county sales, and use taxes for tangible personal property used within the zone.
County incentives exist for new or existing businesses looking to expand facilities who can get a break on their personal property owned in Moffat County.
BEST Program
A signature program in Craig that will continue to be used in 2020 is the BEST certified customer service and soft skills training program. This program helps businesses train quality employees who can serve as not only productive team members, but also ambassadors for the local area.