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Colo. gets $26M eco-devo boost

The Denver Business Journal - June 5, 2006

Gov. Bill Owens signed into law Monday several bills that make up Colorado's largest economic development package in several years.

The bipartisan package is worth $26.5 million, with $19 million going for marketing the state to tourists and other visitors.

Monday's signing ceremony was held at the World Trade Center Plaza on Broadway near 17th Street in downtown Denver.

Colorado needs more tourism-marketing dollars, according to the Colorado Tourism Office (CTO), to better compete with other states in attracting visitors to its ski resorts, historic areas, hotels, restaurants, etc.

This state currently ranks No. 23 in the country for actual tourist visits, according to the CTO. Colorado has been at No. 35 when it comes to public spending on tourism marketing.

In addition to tourism-marketing dollars, the bills also provide $1.5 million for arts funding, $3 million in job-creation incentives and $2 million for bioscience technology transfer. Some $500,000 will be used to create incentives for movie production statewide, and $550,000 will go to the Colorado State Fair in Pueblo.

The governor signed the following bills into law on Monday:

HB 1201, sponsored by Reps. Tom Plant, D-Nederland, and Al White, R-Winter Park, and Sen. Jack Taylor, R-Steamboat Springs. The bill adds $19 million a year from state gaming revenue to tourism marketing efforts. The funds otherwise would have gone to the state's principal funding source, the general fund.
HB 1360, sponsored by Rep. Jim Riesberg, D-Greeley, and Sen. Ron Tupa, D-Boulder. This measure provides matching funds of as much as $150,000 per project to help support the development of life science technologies. Backers expect the funding to help bioscience technologies find commercial uses faster.
HB 1384, sponsored by Rep. Bernie Buescher, D-Grand Junction, and Sen. Abel Tapia, D-Pueblo. This bill adds $550,000 a year to help the state fair be economically sound "for many years to come," according to Buescher.
HB 1362, sponsored by Reps. Tom Massey, R-Poncha Springs, and Cheri Jahn, D-Wheat Ridge, and Sen. Jennifer Veiga, D-Denver. The measure allows any film production company making a movie in the state, which spends most of its production and payroll dollars here, to qualify for tax breaks. Also includes a $500,000 appropriation to attract production companies here.
HB 1017, sponsored by Rep. Dale Hall, R-Greeley, and Sen. Jennifer Veiga, D-Denver. This bill sets up incentives for employers to create at least 10 high-quality jobs in an urban area, and five in a rural area, for at least a year. Incentives range from $1,000 to $1,500 per new employee.

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