EDCC Regional Economic Development Forum June 13, 2016

Registration is now open for the Regional Forum on June 13, 2016

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EDCC Regional Economic Development Forum

Colorado Added 70,800 Jobs in Q1 2016

The most recent release from the Bureau of Labor Statistics (BLS) shows that average Colorado employment for Q1 2016 was 70,800 jobs greater than Q1 2015. In Q1 about 71% of the jobs were added in the following sectors:

  • Accommodations and Food Services
  • Health Care
  • Retail Trade
  • Construction
  • Financial Activities.

The recent release is the third wage and salary employment update in the past month. The other releases included:

  • Bench marked wage and salary employment data for 2015
  • Job data for January and February 2016
  • Employment data for Q1 2016.

cber.co has produced analyses for each of these BLS releases and can be found by clicking here.

Adams County Microloan Fund receives $1 million to spur small business growth

The Adams County Board of Commissioners, Adams County Economic Development (ACED), Colorado Enterprise Fund (CEF) and the North Metro Small Business Development Center have partnered to create the Adams County Microloan Fund with starting capital of $1 million, the largest in the metro area.  This program provides Adams County’s small businesses access to capital for those who have difficulty obtaining financing from traditional sources but are capable of repaying debt.

“Small businesses in Adams County have been the catalyst for landing the county among national leaders in job growth and new job creation,” said Commissioner Steve O’Dorisio. “We’re excited to support this new program to expand the options for small businesses that might have challenges working through the traditional loan process.”

The Colorado Enterprise Fund matched Adams County’s non-federally funded contribution of $500,000 creating the initial program value of $1 million.  Qualifying businesses can apply for loan amounts up to $50,000 maximum for five (5) years.  Loan applications will be reviewed by a committee of bank and financial professionals organized by ACED and approved or denied following CEF’s standard procedures and processes.

“This is one of many steps we are taking to grow Adams County’s economy,” said Barry Gore, President/CEO of ACED.  “Access creates opportunities.  More financing opportunities for our local business community will promote growth, jobs, and support entrepreneurship!”

Businesses can apply directly to the Colorado Enterprise Fund or be referred by Adams County Economic Development members, banks, or from the Small Business Development Center.

Colorado’s Advanced Industries Road Tour announced

The Colorado Office of Economic Development and International Trade (OEDIT) today announced that staff will be going on a road tour throughout Colorado to educate people about the Advanced Industries (AI) Accelerator Program and how they can apply for and secure grants.

“In just the past three years, Colorado’s AI program has granted over $35 million to 227 organizations, helping them to scale and find great success,” said Fiona Arnold, Executive Director of OEDIT. “We want to ensure that people in every part of the state are aware of the program and know how to successfully apply for a grant.”

The AI grant team will answer questions at two-hour meetings, as well as discuss the program in detail and give helpful grant training advice.

Tour Stops:
La Junta 4/20
Grand Junction 4/25
Montrose 4/26
Durango 4/27
Alamosa 5/5

The Advanced Industries (AI) Accelerator Programs promote growth and sustainability in Colorado’s seven advanced industries by helping drive innovation, accelerate commercialization, encourage public-private partnerships, increase access to early stage capital and create a strong ecosystem that increases the state’s global competitiveness.

There are five different AI grants available for people to apply for:
* Proof of Concept: grant funding is used to identify and pull technologies from research institutions where they were discovered and connect them to private sector where they can scale.
* Early-Stage Capital and Retention: grant funding is used to fund companies using technologies developed in proof of concept grants and other early stage start-ups that have created viable products that meet a market need and that can be created or manufactured in Colorado and exported globally.
* Infrastructure Funding: grant funding is used to accelerate commercialization and innovation of AI products and services by building capacity and workforce.
* AI Export Accelerator Program: grant funding is available for businesses to offset international business development and marketing costs.
* AI Colorado-Israel R&D grant: grant funding available to Colorado companies that have partnered with an Israeli company and are seeking grant funds to support their joint R&D project/technology.

For more information, please click here.

Website launched in honor of Colorado Small Business Week

Small business appreciation week to take place May 1-7, 2016

The Colorado Small Business Development Center (SBDC), along with several statewide small businesses, community organizations and financial institutions, today launched a new website in honor of this year’s Small Business Week. The website, www.coloradosmallbizweek.com, will serve as the one place where Coloradans can find all the events and celebrations in honor of small businesses in specific communities across the state.

Every year since 1963, the President of the United States has declared a National Small Business Week to highlight the impact of outstanding entrepreneurs and small business owners across the nation. This year the US Small Business Administration’s National Small Business Week is May 1-7, 2016.

“Small Business Week highlights the impact of outstanding entrepreneurs and small business owners throughout Colorado,” said Fiona Arnold, Executive Director of the Colorado Office of Economic Development and International Trade. “With over 560,000 small businesses in Colorado and half of our workforce employed by small businesses, this week will celebrate their critical contributions with workshops, events and festivities to celebrate Colorado’s entrepreneurial spirit.”

The www.coloradosmallbizweek.com website features a calendar of the events, workshops, webinars and celebrations that will take place throughout Colorado during small business week. Additionally, Coloradans can submit their own small business training events to the website.

You can join the conversation with the hashtags #ColoradoCollaborates and #DreamSmallBiz.

OEDIT launches Advanced Industries Colorado-Israel R&D Grant

The Colorado Office of Economic Development and International Trade (OEDIT) today launched the Colorado-Israel R&D Grant, a new initiative under the existing Advanced Industries (AI) Accelerator Grant Program. The new grant supports greater collaboration between Colorado and Israeli companies.

The AI Colorado-Israel R&D Grant advances the terms of a Cooperation Agreement signed by Governor John Hickenlooper and Israel’s Chief Scientist Avi Hasson in October of 2015. The main objectives of the Agreement are to facilitate and promote bilateral and multilateral research and development projects between entities from Colorado and from Israel, to identify and endorse existing national and international programs for supporting joint research and development projects, and provide access to relevant funding schemes.

“Colorado and Israel share the benefits of having a highly educated workforce and knowledge-based economy. We also share similar strengths in industry clusters and face similar global challenges,” said Gov. Hickenlooper. “The alignment of industry strength, such as Information and Technology, coupled with strong R&D creates the potential for meaningful partnerships. We are thrilled to launch this program that will further enhance collaboration on future projects.”

The new grant will support projects that will take place in Colorado between Colorado and Israeli companies that have agreed on a partnership arrangement. Awarded funds will help companies offset some of the costs of their R&D projects. Project may include pilot projects (i.e. experimenting with/implementing an Israeli technology in Colorado) or jointly developed technologies (i.e. a water technology or medical device).

Colorado companies interested in applying for the new AI Colorado-Israel Grant must identify as at least one of the following Advanced Industries: Bioscience/Life Science; Advanced Manufacturing/Advanced Materials; Energy – including Natural Resources, Cleantech, Water and Agricultural Systems; Aerospace – including defense; Technology and Information; Electronics; or Infrastructure Engineering. Companies also must have an Israeli partner with which they plan to execute a joint project (Colorado companies seeking Israeli companies to partner with are encouraged to contact or visit the Israeli Center for R&D website).

Colorado companies can apply for a grant beginning today through June 1, 2016. For more information or to apply, please click here.