MAINTAINING ECONOMIC VITALITY

Challenges and triumphs amid a pandemic

As a recent report from the nonprofit economic group Heartland Forward notes, Boulder enjoys one of the most dynamic economies in the country. The diversity of industries that operate in Boulder, along with its highly educated populace and active startup community, have provided the basis for a strong economy through the years. Strengths aside, however, Boulder was not immune to severe headwinds caused by the pandemic.

“Prior to the pandemic, our efforts focused primarily on the retention and recruitment of businesses and on reporting on the economic conditions within our region,” said Scott Sternberg, executive director of the Boulder Economic Council. “After March 2020, our activities pivoted towards directly supporting those businesses significantly impacted by public health restrictions and changes in customer behavior.”

Collaboration is key

To achieve the heavy lifting that came with such a significant change in economic vitality efforts and to maximize its impact, the Boulder Chamber rallied together with several of the county’s top business support organizations. Among the earliest and most valuable of these partnerships was the Boulder Business Response and Recovery Alliance, a coalition including the Boulder Chamber, Boulder Convention and Visitors Bureau, Boulder County, Boulder Small Business Development Center, Community Foundation Boulder County, City of Boulder, Downtown Boulder Partnership and the Latino Chamber of Commerce of Boulder County.

“I continue to be impressed by the level of collaboration and commitment exhibited by local leaders,” said Corine Waldau, senior director of economic vitality. “Countless hours have been spent in direct contact with local businesses and stakeholders to both act on, and react to, changing conditions.”

This broad partnership manifested itself in powerful ways throughout the year, particularly when it came to distributing urgent information to the business community. The Boulder Chamber collaborated with the Latino Chamber of Boulder County and Boulder County staff to provide critical resources, business signage and webinars in English and Spanish to improve community access to information. Notably, the Boulder Chamber also stepped into a new role in partnership with Boulder County Public Health as the key liaison for businesses about following new operating guidelines, securing personal protective equipment and finding funding. One of the most important and popular resources has been a regular weekly webinar series hosted in partnership with Boulder County Public Health, where businesses can tune in to get their questions answered and hear updates on operation guidelines in the county. Over the course of the 160-webinar series, over 5,000 registrants have participated in these webinars and an additional 5,000 business leaders have watched the recordings.

Giving leaders a venue to connect and share

One significant venture was to present events focused on economic recovery, such as the Economic Summit in the fall of 2020, in an entirely new virtual format that allowed for breakout sessions and networking.

This work was complemented by a series of industry-focused Economic Recovery Roundtables, where business leaders gathered to talk about their current struggles, needs and potential strategies for moving forward. These sessions gave business leaders an opportunity to benchmark best practices, allowed Boulder Chamber staff to collect insight into businesses’ immediate needs and served as a basis for the development of future economic recovery strategies.

“There is no book on how businesses should respond to a pandemic,” said Waldau. “Facilitating venues wherein leaders can take advantage of peer-to-peer interactions proved vital for all participants.”

Leadership developments

Amid last year’s challenges, the Boulder Chamber welcomed Scott Sternberg as the new executive director of the Boulder Economic Council. Along with most recently serving as President of Vaisala Inc., Sternberg holds significant leadership experience in international business, entrepreneurial startup ventures and research technology development.

“Onboarding in a two-dimensional COVID fashion has been both challenging and empowering,” said Sternberg. “In many ways it has allowed me to connect with a great many people in a very short time frame. I do, however, very much look forward to in-person encounters in the near future.”

Those who have tuned into the Boulder Chamber’s weekly webinars with Boulder County Public Health are likely familiar with Corine Waldau, senior director of economic vitality. Early in the pandemic, Waldau was accepted into a prestigious fellowship program along with other chamber of commerce professionals across the country to learn about economic recovery and develop strategies to best support their communities.

“I would have never predicted that my role could have shifted both as quickly and substantially as it has in the past year,” said Waldau. “I am fortunate to have the support of the Boulder Chamber and that of the community to continue to grow my career in the context of the greater good.”

Looking ahead

The general sentiment for 2021 and beyond is best characterized as “cautiously optimistic.” It is a fact that a precursor to a strong and inclusive economic recovery is a strong and inclusive public health recovery.

“The pandemic has highlighted both the strengths and weaknesses of the Boulder community,” said Sternberg. “The good news is that we now clearly see what they are and can begin to actively address them towards a better future for all.”

Scott Sternberg Executive Director, Boulder Economic Council and Associate Vice President for Economic Vitality | scott.sternberg@boulderchamber.com

Corine Waldau Senior Director of Economic Vitality |corine.waldau@boulderchamber.com