Rifle EDC says co-working hub spawned businesses but rising rents threaten stability

Michael Langhorne and Carrie Slappy of the Rifle Regional Economic Development Corporation told Garfield County commissioners Aug. 19 that the EDC's co-working space has helped start businesses and incubate projects for nearly two decades but is now facing an increase in rent following a change in property ownership.

Slappy said the co-working space has supported dozens of entrepreneurs, regularly hosts civic partners including the Chamber of Commerce and fiscal-sponsors small nonprofits, and that membership fluctuates seasonally with about 28 to 30 active members at a time and more than 450 community members on file. "We continue to have new businesses start out of the co work every year," she said.

Langhorne said the building was recently sold to a new owner and that noise and adjacent uses have disrupted some tenant activity; he said the EDC is evaluating whether to relocate and noted moving would be financially challenging given prior investments in the current space.

The EDC also administers grants on behalf of the City of Rifle, acts as a fiscal sponsor for smaller nonprofits, and has formed the Colorado River Valley Economic Development Partnership to regionalize economic development work. Commissioners thanked the EDC for incubating businesses and said they would consider the EDC's ongoing role as county budget decisions proceed.