On Thursday, August 8th the Boulder Area Food, Beverage and Healthcare Sector Partnership convened at Aloft Hotel in Broomfield to review an occupational analysis and learn more about the demolition and redevelopment of the Broomfield Event Center.
Louis Rosner, Economic Development Analyst with the Boulder Chamber Economic Council
Regional Demand and Earnings
- Since the COVID recovery demand spike, regional job postings have steadily declined to pre-pandemic levels, with the majority of postings in fast food, first-line food and beverage management, and serving positions.
- Median earnings across all occupations within the sector have increased steadily since 2019, in line with minimum wage and cost-of-living wage increases across Boulder County.
Skills Gap Analysis
- Skills gaps are most prevalent in restaurant operation, with a 5% gap between total postings and total profiles that match listed skills.
- Projected skills growth exceeds current skill gaps in a variety of necessary skills, but will require the continued collaboration of business owners, educational institutions, economic developers and other community partners to build and maintain necessary training programs.
Rachel King, Deputy Director, Economic Vitality & Development with the City and County of Broomfield
History & Financing
- The Broomfield Event Center, opened in 2006 by the Broomfield Urban Renewal Authority (BURA), has failed to reach anticipated utilization and performance, leading the property to go dark in November of 2023.
- Total annual payments have reached a minimum of $6.1 million in bond payments.
What’s next?
- With the procurement process to select a demolition contractor complete, the pre-construction phase has begun, which involves presenting alternatives for different demo scopes of work to City Council. Contract approval is anticipated for September 2024.
Industry partners had these insights to share:
Skills Gaps & Workforce Needs:
- Hotels are experiencing a shortage of maintenance technicians who are willing to work unconventional hours to accommodate hospitality needs (overnights, early mornings).
- Overall, hiring folks with hospitality experience has proved difficult, specifically in filling managerial positions or those requiring higher levels of experience.
Data Collection & Utilization
- Businesses in the hospitality industry utilize POS systems, guest booking data, market dynamics, and competitor performance to inform their operations. Smaller, local businesses have less of a capacity for this type of consumer analysis.
- Industry partners, specifically restaurant owners, are in need of additional data collection resources, particularly related to customer demographics and tendencies.
Thank you to Aloft Hotel for hosting this meeting!