Office of Economic Development provided financing, assistance for business expansion
Tuesday, June 9, 2009 — Mayor John Hickenlooper, Council President Jeanne Robb and other Denver officials today participated in a ribbon cutting event to celebrate the opening of Tony’s Market, a new specialty foods business located at 950 Broadway.
“Denver is proud to welcome Tony’s Market as the newest member of our vibrant small-business community,” said Hickenlooper. “Tony’s has for many years been recognized as one of the best small businesses in Colorado and the nation. In additional to bringing 70 new jobs to our City, the business is helping to further revitalize the Broadway corridor while providing another grocery shopping option for the growing number of residents living downtown.”
Tony’s Market operates three gourmet food markets in the south metro area. The 15,000 square foot Denver location offers local produce, a large deli, European-style bakery, a huge selection of meats and seafood most of which is prepared in-house, and a bistro that seats approximately 80 people.
The Office of Economic Development provided small business financing, workforce recruitment services and a number of other resources to assist Tony’s Market with its Denver expansion.
Through the City’s Revolving Loan Fund program, Tony’s received a loan to finance a portion of the costs associated with its expansion. This gap financing program lends up to 25 percent of project costs, thereby inducing banks to provide the bulk of the financing for small businesses. In addition to filling the financial gap, the federally-funded program helps stimulate job creation and revitalize downtown and surrounding central neighborhoods.
The Office of Economic Development hosted a recruitment event to assist Tony’s Market with filling its 70 part-time and full-time positions. Through the Denver Workforce Centers, the office provided a venue for the recruitment event, which connected Tony’s with approximately 200 pre-screened applicants for interviews.
Tony’s Market began working with the City in early 2007, when it approached the Denver Business Assistance Center for resources and assistance. Dedicated to supporting the growth of small businesses in Denver, the center provided Tony’s with demographic data, technical and regulatory assistance, and information on the benefits of locating its new business in the Denver Enterprise Zone.
For more information on the Denver Revolving Loan Fund program, workforce development services and the Denver Business Assistance Center, call 720-913-1999.
The Denver Office of Economic Development is dedicated to advancing economic prosperity for the City of Denver, its businesses, neighborhoods and residents. Working with a wide variety of community partners, OED operates to create a local environment that stimulates balanced growth through job creation, business assistance, housing options, neighborhood redevelopment and the development of a skilled workforce.