40/40 Leaders Region’s leaders to watch Section B $ 1 NEWS Sept. 24-Oct. 7, 2010 Vol. 15, No. 26 Survey says: CRE www.ncbr.com market same as ‘09 Everitt Center finds industry expects ’11 to be slightly better Page 2A Engines and Energy lab to grow Marriott foreclosure sign of hotel times Properties stay open, and EECL director, said the addi- but recession tough Details finalized on 50,000-square-foot expansion tional space is needed for class- on nation’s hoteliers rooms, laboratories, offices and Page 3A By Steve Porter rebirth in 1992 when Colorado Discussions are being finalized future growth. [email protected] State University professor Bryan with the city to expand the EECL “We started the lab in 1992 Willson moved in to create the by 50,000 square feet, with a new with just one professor — me — FORT COLLINS — The old Engines and Energy Conversion addition planned for the facility’s and now we have over a dozen Fort Collins power plant on North Laboratory, is about to see a new front-yard area. Willson, a and tons of companies working College Avenue, which found a chapter in its 75-year-old history. mechanical engineering professor See ENGINES, 35A 2010 not yet a bounce-back year Who THE EDGE EmploymentEmEmpplplloymentooyment ChangesCChanghangges SinceSince thethe RecessionRRecessReceecesesssion BeganBegan Plans and brands 1 are change with times Sage updates look, .999 Northern message to reflect new business model .988 Colorado’s Page 13A 1974-1976 .977 1980 ? 1981-1983 SPECIAL .966 1990-1993 2001-2005 Illustration by David Badders REPORT .95 2007-present Precision Wind moves to Boulder .94 Wind-energy needs SOURCE: MARTIN SHIELDS precise forecasts for .93 best financial results 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 Page 19A months LONG WAY TO GO — This chart was presented by Colorado State University economist Martin Shields at the Northern Colorado LISTS Business Report’s Mid Year Economic Update in July. Although the recovery from the Great Recession has officially begun, the Region’s largest: hole is way too deep to dig out of quickly. Oil-production As fourth quarter nears, signs and omens of late. The wizards in It took all summer, but we finally have companies Washington just revealed that the Great the answer to that question. Recession ended in December, and Nothern Page 24A Fifty participants, both as members of some cautionary tales Colorado is pulling out of it better than the rest teams and as individuals, started out in of the country — but we’re turning that corner in April being poked and prodded and Natural-gas- of too-wishful thinking fits and starts. The state added 1,900 jobs timed and tested by Banner Health pro- production compa- between June and July — fessionals. Then as part of the 2010 By Kate Hawthorne but lost 25,200 between nies See Then…and Now Banner Health Fittest Execs Challenge, [email protected] July 2009 and July 2010. they walked and ran and biked and hiked Page 25A By Kate Hawthorne Obviously signs and and sweated their way through August to The theme of this final installment of the omens do not a recovery Page 21A Southwest Weld another round of testing. Business Report’s 15th Anniversary Retrospective make — yet. As much as The results were tallied, the numbers employers was supposed to be Recovery. Back at the end of we’d like to have better news to report, we still have crunched, and the winners named on Page 27A 2009 when we were planning this series, we to wait until it happens. Sept. 16 at Bixpo — and profiled inside. thought — hoped? — we’d have some good news While we wait, we could take some lessons in But everyone who knows that good to work with by now. wishful thinking from NCBR stories of years past. health is good business is a winner. To be sure, there have been some positive See RECOVERY, 20A See FITTEST EXECS, 9A Business Report Social Media Follow us on: www.businessreportdaily.com www.NCBR.com 2A | Northern Colorado Business Report www.ncbr.com | Sept. 24-Oct. 7, 2010 Survey says: CRE market same as last year they did last year. Everitt Center finds I-25/34 outranks other locations in the region Other results from the online survey: Rank the following locations in terms of successful redevelopment potential over the I Respondents overwhelmingly felt industry expects ’11 next five years (1=highest potential, 7=lowest potential) that land acquisitions and development 50 loans would be harder next year, while to be slightly better 1 2 3 4 5 6 7 the most respondents felt executing ten- 40 ant leases would be easier. By Sharon Dunn I Respondents overwhelming [email protected] 30 favored the Interstate 25/US Highway 34 interchange as having the most potential FORT COLLINS — Chances for 20 for development, while they overwhelm- growth in the commercial real estate # responses ingly felt that Greeley’s downtown had market are about the same as they were 10 the least chance of development or rede- last year, with those in the industry velopment. Equal numbers of respon- expressing little optimism about the dents felt neighborhoods surrounding 0 coming year, according to the Everitt Colorado State University and Real Estate Center’s second annual sur- University of Northern Colorado had vey. 25/34 good chances of redevelopment, as well - Greeley I Loveland Collins Downtown Downtown With 2009 being such a bad year, Interchange as North College Avenue in Fort Collins Fort Collins West Greeley CSU or UNC North College Midtown Fort surrounding commercial real estate professionals had Neighborhoods and downtown Loveland. little to be optimistic about for 2010, I Respondents felt the best chances which served to be a prime breeding SOURCE: EVERITT REAL ESTATE CENTER, COLORADO STATE UNIVERSITY, NORTHERN COLORADO COMMERCIAL REAL ESTATE 2011 SURVEY for financing projects was through the ground for the 2011 outlook — though nomic growth in our region and lack of UQM in southern Weld County — private equity market and out-of-state respondents generally felt a little more empirical evidence of job creation in Laposa said the Fort Collins/Loveland commercial banks, and more respon- optimistic. Northern Colorado, perhaps about the area has lost 6,000 jobs in the last two dents felt that financing through region- “About the same or slightly better, same, but slightly better is healthier than years. al and local banks would decrease the that’s really the mantra this year,” said ‘it’s going to get worse in 2011,’” Laposa “People are concerned about the most. However, respondents did seem to Steve Laposa, director of the Everitt Real wrote in the forward to the report of the (economic) environment,” Laposa said. have more optimism for next year than Estate Center at Colorado State they felt last year. survey results. Survey respondents echoed that, not- I University, which on Sept. 23 put on its Despite job growth on the east side of ing that “general economic and employ- Respondents overwhelmingly saw annual Real Estate Rendezvous, subtitled Interstate 25 — with Vestas Wind ment conditions” ranked among their little growth, even slight decreases in Reality Check 2011. Systems’ recent announcement of 1,000 highest concerns. Respondents ranked grocery-anchored shopping centers and Laposa, who conducted this survey, new jobs, plus JBS USA pumping more concern about interests rates and infla- the power/lifestyle centers and other said he wasn’t sure what to expect with employees into the Greeley area every tion the lowest. retail centers. the results from 131 respondents, about day and the promise of 250 jobs in Overall, however, fewer survey Hotels and office space scored low for 100 fewer than the 2009 inaugural sur- Greeley at Leprino Foods by 2011, and respondents said they felt 2011 would be growth in real estate values, while indus- vey. hundreds of jobs announced last year at worse for commercial development than “Given the lack of sustainable eco- See CRE, 33A There are financial parasites within every business that would like nothing better than to feed off of your blood, sweat and tears. We’re not your average accountants. We know what’s sucking you dry. KCOE.COM or 9 70.685.3500 Sept. 24-Oct. 7, 2010 | www.businessreportdaily.com Northern Colorado Business Report | 3A THE Nonprofits must file IRS forms by Oct. 15 EYE nonprofit’s annual accounting of its exis- Those that do not respond will be expunged. Some agencies say tence — for three years. “We’ve probably talked with upward of Throughout the country, 320,000 small 30 charities about it,” said Paul Mueller, a Water Pik they don’t belong nonprofits are now at risk of losing their tax- Loveland accountant who works with the exempt status, including a 180-page list of Community Foundation of Northern on delinquent list Colorado organizations. Of those, there are Colorado, adding that his organization has is picking roughly 277 in Larimer County and 176 in offered pro-bono help with the filing By Sharon Dunn Weld County. requirements to smaller charities. [email protected] But the IRS list is fraught with inaccura- It’s part of a rule Congress made in 2006, everything cies from misspellings to inactive employee eliminating the annual filing exceptions for The next month could be a tense one for identification numbers, and groups that organizations raising less than $25,000 a Where dental floss failed leaders of some area nonprofit groups as have long been dissolved. And many non- year.