Economic Vitality Committee Agenda and Packet 2022 03 25

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Cityof ECONOMIC VITALITY COMMITTEE Louisville COLORADO -SINCE 1878 SUBJECT: DISCUSSION/DIRECTION- STRATEGIC PLAN ACTION #2-3: CONDUCT A BUSINESS SATISFACTION SURVEY EVERY OTHER YEAR TO MONITOR CHANGES AND NEW IDEAS IN THE BUSINESS COMMUNITY DATE: MARCH 25, 2022 PRESENTED BY: MEGAN E. PIERCE, ECONOMIC VITALITY DIRECTOR SUMMARY: Surveying of Louisville businesses regarding their general satisfaction has been done most recently in 2017 and 2018. Strategic Plan Action #2-3 outlines that the City will undertake a satisfaction, or general temperature survey, of its businesses every other year. This Supporting Action is targeted to begin Q2 2022; the next survey would then be in 2024. DISCUSSION: It is important to routinely gauge the pulse of the business community —to learn about their perspective on the current environment and to open an outlet to share concerns as well as any future plans. In 2017 the Satisfaction Survey was performed by the Boulder Insights Group. In 2018, the Survey was administered by staff on behalf of the Business Retention & Development (BRaD) Committee. Results reports from both surveys are attached to this report (Attachments #1 and #2). In late 2020, staff was working with the BRaD Committee on developing a new survey tool. Ultimately, staff conducted two COVID impact surveys of businesses but did not administer the general satisfaction survey given the focus on business re -opening and recovery. It is important to ask relatively consistent questions over time in order to be able to analyze trend information, but questions should also be reviewed to ensure that data gathered can inform decision -making and lead to action. As such, staff has reviewed prior survey questionnaires as well as tools from other organizations. Attachment #3 reflects the suggested 2022 Satisfaction Survey tool. Staff seeks feedback on the proposed survey tool. With the Committee feedback, staff would prepare to administer the survey at the beginning of April. A letter would be sent to all licensed businesses directing them to an online survey link. E-blasts would also be used to invite people to participate. Responses would be kept confidential, but are not anonymous —meaning results would be presented in summary form and any comments would redact the name or location of a business. Staff envisions the survey would be available for approximately three weeks; a results document would then be prepared and would likely be ready for consumption in June 2022. Agenda Packet P. 6