Last week, the City of Denver awarded the designation of “Legacy Business” to 36 places across the Mile High — from deeply rooted locales like Bonnie Brae Ice Cream and El Taco de Mexico to hipper, newer hangs like X Bar and Olive & Finch. It’s a fancy title, for sure. But what does it actually entail? Here’s what it means:
What Is the Denver ‘Legacy Business’ Program?
In September 2023, Denver’s Department of Economic Development & Opportunity (DEDO) announced plans to launch the city’s first-ever Legacy Business program modeled on successful examples from other cities around the country. The goal was to “protect and strengthen" small, locally owned businesses by “taking a broad range of steps to support [them] and help them succeed.”
DEDO awarded the first round of “Legacy Business” designations earlier this year to 12 businesses located within one of Denver’s 18 Neighborhood Equity and Stabilization (NEST) neighborhoods. For Round 2, applications were open to any Denver business that met the program's requirements, and another 37 places were added to the list.
Now, with the most recent 36 additions, the city’s Legacy Business Registry swells to a total of 85 places, representing 43 different Denver neighborhoods.
Who Qualifies for the Title?
According to DEDO, the designation is reserved for “longstanding, independent businesses that have contributed to community character and vitality and hold cultural significance.” But beyond that, the more tangible requirements mandate that qualifying businesses:
- Are independent and/or locally owned
- Have been open for at least 10 years
- Have annual gross revenue between $30,000 and $5 million
- Operate a brick-and-mortar within the city
- Are in good standing with the Colorado Secretary of State’s office
- Are compliant with all city, state, and federal taxing authorities
Any Denver business that meets those requirements can apply for a designation when applications are open. A business can also be nominated. Then, program officials determine which businesses receive designation, giving priority to businesses facing “vulnerability to displacement pressures.”
What Are the Perks?
One important thing to note is what Denver Legacy Businesses don’t get, which is money. There are no grants or loans connected to the designation. What awardees do get is:
- Public recognition and networking opportunities
- Marketing support, technical assistance, and resource training provided by the city
Who Would You Nominate?
Spotlighting any small, locally owned business is always a good thing! But there’s no doubt that people have feelings about who is — and is not — included on the list.
