DENVER--(BUSINESS WIRE)--arc Thrift Stores might be a great place for great deals, and a great place to donate gently used clothing and household items, but, according to the organization's president and CEO, Lloyd Lewis, the organization also has a $2.3 BILLION impact on the state’s economy.
arc Thrift Stores, in partnership with The Arc of Colorado and the University of Denver's Daniels School of Business, has completed a study showing the organization's significant economic impact on the regional economy.
Most notable is the finding that the estimated economic impact of arc Thrift Stores and the Arc of Colorado for the period 2005-2019 to the state of Colorado is $2.3 billion.
According to Lewis, who became president and CEO of arc Thrift Stores in 2005, “For over 50 years arc Thrift Stores has been an integral part of the fabric of Colorado. From our first store on Broadway that opened in 1968, to the now 30 we have throughout the state, we pride ourselves on being an organization that lives and breathes our mission to support advocacy programs for people in our community with intellectual and developmental disabilities.”
Christiano Sosa, executive director of the Arc of Colorado, said, “The economic impact study is an important affirmation of the connected network of advocacy across the state for people with intellectual and developmental disabilities. The interdependent and generative relationship of arc Thrift, The Arc of Colorado and each of the 14 chapters has significantly improved people’s lives in the community, workplace, and society.”
The full Economic Impact Study is available upon request. Highlights include:
- Direct cumulative revenue since 2005 is $797 million, which has resulted in $1.6 billion in total economic impact.
- arc Thrift currently employs over 1,750 associates, a 250% increase from 2005.
- arc Thrift currently employs 306 I/DD individuals, a 2,000% increase from 2005.
- In 2019, arc Thrift Stores is expecting to fund more than an additional $11 million to the 15 Colorado Arc Advocacy Chapters. This will bring arc Thrift Stores’ cumulative contribution to the Arc Advocacy Chapters since 2005 to $91 million.
- On average, The Arc of Colorado and arc Thrift support or strongly support 35 to 45 bills annually that directly impact the I/DD community.
- Since 2016, The Arc of Colorado has identified 56 pieces of legislation that is has sponsored or strongly supported through lobbying and education efforts. Each of these bills was signed by the Governor. This includes 35 House Bills and 21 Senate Bills. The subset of 19 bills represent major initiatives of the organization and resulted in $118 million in State Expenditures to improve the lives of individuals with I/DD.
About arc Thrift Stores: arc Thrift Stores operates 30 thrift stores and 17 “donation stations” throughout Colorado. Store operations provide funding to Arc Chapters, which in turn provide advocacy for people with intellectual and developmental disabilities. arc Thrift Stores is one of the largest employers of individuals with intellectual and developmental disabilities in the state of Colorado. http://www.arcthrift.org