What exactly is economic development? This is the most common question when I give my elevator speech about our new regional economic development partnership, the Colorado River Valley Economic Development Partnership, otherwise known as the CRVEDP or simply the Partnership. 

The uncomplicated answer is — it’s complicated.

The U.S. Economic Development Administration defines it as “creating the conditions for economic growth and improved quality of life by expanding the capacity of individuals, businesses, and communities to maximize the use of their talents and skills to support innovation, job creation, and private investment.”

Economic development for our region should be synonymous with fostering a diverse, thriving and resilient economy. The CRVEDP’s strategic plan for 2024-26 emphasizes the importance of regional collaboration, innovation and leveraging our strengths and culture. This vision is not just about economic metrics but about building on what is already here to cultivate prosperous communities where residents can enjoy a high quality of life — and not always have to commute upwards of three hours a day for a livable wage, benefits and career pathways.

Economic development of the past is remembered as the pursuit of large corporations, often referred to as big box stores, through flashy incentives and trade show promotions. However, we have found that economic development in today’s world, especially for rural areas like ours in the Colorado River Valley, requires a more nuanced and community-centered approach. It’s about listening to and understanding the needs of our existing economic stakeholders to allow them to find ways to grow and prosper, as well as fostering an environment that attracts sustainable job growth.

I look at their confused expression and wait for the next question, “But what about getting us a Trader Joe’s or a Chick-fil-A? That’s what we really want!” I won’t deny it; I would love to have a Trader Joe’s within an hour’s drive from where I live, and I know the perfect spot in Silt where they could build it. 

The reality is our region doesn’t meet the criteria for these big brand stores, and the economics at this time don’t add up. This doesn’t stop me from going on to their website at least once a week to champion the communities of New Castle, Silt, Rifle, Parachute and Battlement Mesa as the next best location for their popular store (you can do this too; maybe if we all ask, they might give in).

As we bring ourselves back down from these moonshot aspirations, the public and private stakeholders who have volunteered their time to create the CRVEDP are confident in our mission of focusing on what we already have and how to build better jobs closer to home.

The Colorado River Valley has weathered its fair share of economic ups and downs. The prosperity of the oil shale boom in the ’80s allowed for a full build-out of infrastructure in Battlement Mesa. The demise that followed, though, is not lost on those who, over the decades, have dedicated their time, heart and souls to finding ways to diversify our opportunities and build a stable, resilient economy. We now have the advantage of working on this challenge as a region. The collaboration between municipalities, non-profit organizations, and the private sector is as strong as it has ever been. With the CRVEDP fully operational and driven to fulfill our mission, we have the momentum — our time is now.

Our recently adopted strategic plan outlines our main immediate goals as:

• Supporting local employment
• Cultivating a regional identity
• Fostering a business-friendly environment
• Being a hub for trusted information and resources

The CRVEDP’s approach moves beyond nostalgic economic development tactics. Instead of chasing after smokestacks, we are focusing on building a sustainable economic ecosystem that benefits all residents. This means prioritizing collaboration, innovation, resilience, integrity, community vitality and empowerment. These core values guide our initiatives and ensure that our efforts align with our community’s needs and aspirations.

As we move forward, the CRVEDP invites all community members to join us in this journey. Economic development, especially in our rural areas, is not a top-down mandate but a collective effort that requires the participation of everyone in the community. We welcome you to be part of a committee, host a networking event, or simply give us your insight into what you need as an economic stakeholder.

To learn more, visit our website at http://www.crvedp.org. If you prefer a personal touch, call us at 970-505-7391. We will be part of the AGNC Economic Development Summit in Rifle on August 14. Come by and say hello, and give us your thoughts on what economic development means to you. While we are dedicated to potential development, we value the strength of in-person connections and learning from our neighbors — an aspect of our region that has no doubt allowed us to endure the ups and downs of the past and will continue to guide us into the future.

Alicia Gresley is the director of the Colorado River Valley Economic Development Partnership. She lives in Rifle.