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Choose Colorado brochure
Choose Colorado
Colorado Office of Economic Development
and International Trade
Colorado Office of Economic Development and International Trade | 9-24-13
Page 1
Table of Contents
Choose Colorado ............................................................................................................................... 3
National Rankings ......................................................................................................................................... 3
Business Environment ...................................................................................................................... 5
Workforce ........................................................................................................................................ 6
Unions .......................................................................................................................................................... 6
Education ...................................................................................................................................................... 6
Top Universities ............................................................................................................................................ 7
Location ........................................................................................................................................... 8
Transportation ................................................................................................................................. 9
Quality of Life ................................................................................................................................. 11
Key Industries ................................................................................................................................. 12
Colorado Office of Economic Development and International Trade ............................................... 13
Services for Expanding/Relocating................................................................................................... 14
Funding & Incentive Programs ......................................................................................................... 16
Recent Wins .................................................................................................................................... 19
Colorado Office of Economic Development and International Trade | 9-24-13
Page 2
CHOOSE COLORADO
Whether you are looking for access to capital, an educated and highly-skilled workforce, low taxes and business
costs, or a fair and accessible regulatory environment, Colorado has one of the nation’s best business climates.
Colorado’s central geographic location, international airport and modern infrastructure ensure efficient delivery of
goods and services across the country and around the world.
Under the leadership of Gov. John Hickenlooper, and in collaboration with economic development partners across
the state, the Colorado Office of Economic Development and International Trade (OEDIT) is relentlessly probusiness while cultivating entrepreneurship and promoting innovation. OEDIT’s commitment and the success it
brings is continually recognized at the national level, but more importantly, we have celebrated a number of
headquarter moves and company expansions along with steady job growth.
Leadership
Colorado's commitment to ensuring a business-friendly environment has been embraced by all branches and
levels of government and has been nationally recognized. State and local officials understand the critical
importance of a robust private sector and work together to maintain one of the nation's best business climates.
Colorado's elected officials have passed a variety of legislation to ensure a business-friendly climate throughout
the state, saving businesses hundreds of millions of dollars. They have also delivered broad-based tax relief to
individuals and businesses through reductions of the sales tax and the corporate and personal income tax.
National Rankings
Business Climate Statistics
• 1st for growth in the startup job sector – StartUpHire, 2012
• 2nd best state in entrepreneurship and innovation – US Chamber of Commerce, 2012
• 3rd for state technology and science index – Milken Institute, 2011
• 3rd most economically competitive state – Beacon Hill Institute, 2012
• 5th most sustainable state – Site Selection Magazine, 2011
• 6th for lowest state sales tax rates – Tax Foundation, 2012
• 2nd for relative lawsuit burdens on jobs and businesses around the country - The Pacific Research Institute
• 3rd in Labor Market Freedom – The Fraser Institute, 2012
• 2nd in Economic Freedom – The Fraser Institute, 2012
Workforce Statistics
• 1st best state for labor supply – Forbes, 2012
• 2nd for population 25+ with bachelor’s degree or higher – US Census Bureau, 2012
• 3rd for high tech employment per 1,000 workers – TechAmerica
• 4th for number of new companies per 1,000 workers – US Bureau of Labor Statistics
• 8th in science and engineering doctorate holders as a percentage of the workforce – National Science
Foundation
Colorado Office of Economic Development and International Trade | 9-24-13
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Lifestyle
• Colorado ranked the 3rd best place to live in 20 years – US News & World Report, 2012
• Colorado has 42 State Parks and 10 National Parks
• Colorado has 26 ski areas and resorts
• Colorado is home to six National Monuments
Exports
Colorado commodity exports increased over 11 percent overall last year. In 2012:
• Colorado exported over $8.1B worth of commodities globally
• Colorado service exports are estimated to be $11.5 B in 2012
• Colorado exported over $1.4B worth of medical equipment globally
• Colorado exported over $1.5B worth of industrial machinery (including computers) globally
• Colorado exported over $215M worth of aerospace products globally
Colorado Office of Economic Development and International Trade | 9-24-13
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BUSINESS ENVIRONMENT
Colorado has a competitive business tax structure that rewards investment and innovation. With very low taxes at
the state level, and a wide range of local tax structure, Colorado offers almost unlimited choices to meet the needs
of all types of businesses.
Colorado’s tax climate has:
• Among the lowest income tax rates of any state with a corporate income tax (4.63%)
• The lowest sales tax of states that assess a state sales tax (2.9%)
• The third-lowest residential property tax (in the state’s largest city)
Corporate Income Tax
The corporate income tax rate in Colorado is among the lowest in the nation at 4.63 percent. The state has a
"single sales factor" for multi-state corporations, creating an incentive for companies that want to build their
workforce and increase their physical presence in Colorado, and rewarding companies currently investing in the
people and infrastructure of the state.
Unitary Taxation
Colorado has a liberal "water's edge" system of unitary taxation rather than a "worldwide" one. Specifically,
foreign corporations, as well as "80/20" corporations (i.e. corporations with 80percent of their property and
payroll outside the U.S.), are not included in a Colorado income tax return. Corporations doing business in
Colorado, as well as other states, must apportion to Colorado that part of their net income derived from sources
within Colorado. These corporations may choose to utilize either the Colorado Income Tax Act or the Multi-State
Tax Compact. The Tax Compact adds the payroll in Colorado versus nationwide as an additional factor.
Sales/Use Tax
Colorado levies a 2.9% sales tax, which is the lowest among the 45 states that collect sales tax. Services are not
taxed, only sales of non-food items are taxed. Use taxes substitute for sales taxes in cases where an item is
purchased for consumption in Colorado from a source outside Colorado or other circumstances where a sales tax
was not paid. There are many state sales tax exemptions. Colorado allows its cities and towns to assess a local
sales tax.
Personal Property Tax
The State of Colorado does not impose property taxes on businesses. Local governmental units assess property
taxes primarily to fund public school operations and local government services. Commercial and industrial
property is assessed for property tax purposes at 29% of market value.
Utility Rates
Colorado’s utility rates are consistently among the lowest of any major US city. From modern office parks wired
with internet capabilities to warehouse and distribution space, Metro Denver’s large inventory of commercial and
industrial real estate gives companies room to grow and expand.
Colorado Office of Economic Development and International Trade | 9-24-13
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WORKFORCE
Colorado has one of the nation’s most educated, technically savvy workforces contributing to its strong position in
a broad range of industries. Our young, skilled and growing workforce makes a critical contribution to the vitality
of the Colorado economy.
Colorado workers are also exceptionally productive, consistently ranking in the top ten for per capita gross state
product. Forbes Magazine recently deemed Colorado to have the best labor pool in the country.
The Denver metro region is a magnet for young, smart and diverse workers. In fact, the region of 2.9 million
people is one of the fastest growing in the country and is the top location for adults ages 25 to 34. Also, Colorado
attracts a steady stream of new residents from other areas. Net migration represented one-third of the region’s
total population change between 2002 and 2012.
World-class educational programs and research facilities, as well as a state commitment to supporting customized
job training programs, assure that our workforce skills will remain cutting edge, allowing employers to compete in
a global economy. Colorado has 24 federally-funded research labs including the National Renewable Energy
Laboratory (NREL), which is the nation's primary laboratory for renewable energy and energy efficiency R&D.
Major Federal Labs and Research Centers
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National Oceanic and Atmospheric Administration (NOAA)
National Renewable Energy Laboratory (NREL)
National Institute of Standards and Technology (NIST)
University Corporation for Atmospheric Research (UCAR)
National Center of Atmospheric Research (NCAR)
Cooperative Institute for Research in the Atmosphere (CIRA)
Cooperative Institute for Research in Environmental Sciences (CIRES)
Unions
Union membership in Colorado is composed of 7.8 percent of the state’s wage and salary workers, compared to
11.3 percent of wage and salary workers nationally. Colorado’s Labor Peace Act of 1943, a state statute that
requires two elections and approval from 75 percent of workers before a work force becomes a union shop, is
touted as unique among US states in preserving union organizing rights and the interests of business owners.
Colorado is not a “right-to-work” state.
Education
Coloradans are among the nation’s most highly educated populations, ranking 2nd in the number of citizens with a
bachelor’s degree. Our colleges and universities offer a broad range of business, management, engineering and
technical degrees, and most graduates remain in Colorado to pursue their careers.
Colorado's 178 school districts had an enrollment of 854,265 students in the 2011-2012 school year. Colorado has
the highest percentage of high school graduates achieving ACT and SAT (college entrance exams) scores in the top
20th percentile for each test.
Colorado Office of Economic Development and International Trade | 9-24-13
Page 6
In the Colorado higher education system, there are over 470 institutions educating approximately 400,000
students. These include publicly supported, private accredited, area technical, and private occupational
institutions.
Educational Attainment
High School Graduates
College Graduates
Colorado
88.7%
35.5%
U.S.
84.2%
27.2%
Top Colorado Universities
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University of Colorado Boulder, Boulder
Colorado State University, Fort Collins
University of Denver, Denver
United States Air Force Academy, Colorado Springs
Colorado School of Mines, Golden
University of Colorado Denver, Denver
University of Colorado at Colorado Springs, Colorado Springs
University of Northern Colorado, Greeley
Metropolitan State University of Denver, Denver
Colorado Technical University, Colorado Springs
Colorado Office of Economic Development and International Trade | 9-24-13
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LOCATION
Colorado is centrally located in the United States, an accessible and naturally beautiful location that makes an
ideal home for business and individuals.
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Central location: Denver is only 556 kilometers west of the geographic center of the continental US. Its central
location makes Colorado an excellent spot for businesses serving US and North American markets.
Mountain Time Zone: Colorado’s location in the Mountain Time Zone allows same-day communication with
both coasts and with Europe, South America and Asia.
International Access: Colorado is located midway between key trading partners Canada and Mexico. The state
is also at the exact midpoint between Tokyo and Frankfurt, so businesses can easily serve growing
international markets.
Easy Satellite Communication: Denver’s location on the 105th meridian allows “one bounce” uplinks to world
networks, so real-time connections to six of the seven continents are available in one business day. Metro
Denver businesses enjoy higher quality global communications at lower prices.
Low risk of natural disasters: Colorado ranks low on the national Earthquake, Tornado and Volcano Indexes
(The higher the ranking, the higher the chance of disaster).
Colorado Office of Economic Development and International Trade | 9-24-13
Page 8
TRANSPORTATION
Colorado has an integrated, cutting-edge infrastructure that helps businesses reach markets across the world
quickly. Our transportation, communications and energy infrastructure are reliable and abundant, and our
network of highways, railways and air carriers makes it easy to get people and products to destinations worldwide.
Interstate Highways
North-South Interstates: I-25, I-225, I-270
East-West Interstates: I-70, I-76
Rail
Freight Service: BNSF Railway, Union Pacific Railroad
Passenger Service: Amtrak
Light Rail: Regional Transportation District
Airports
Colorado has 76 public-use airports
International Airport: Denver International Airport
Reliever Airports: Centennial Airport, Front Range Airport, Rocky Mountain Metropolitan Airport
General Aviation Airports: Boulder Municipal Airport, Erie Municipal Airport, Longmont Municipal Airport
Colorado Office of Economic Development and International Trade | 9-24-13
Page 9
Denver International Airport
Ranked the best airport in North America by Traveler Magazine, Denver International Airport (DIA) is served by
ten U.S.-flag and four foreign-flag airlines providing scheduled commercial passenger services, offering exceptional
access to markets. In addition to DIA, Colorado has 17 commercial and 62 general aviation airports located
throughout the state.
DIA’s key offerings:
• 5th busiest airport in the US in terms of passenger traffic
• 10th busiest airport in the world in terms of passenger traffic
• Offers nonstop flights to 170 domestic destinations and over 1625 flights per day
• Offers nonstop flights to 22 international destinations (includes service from DIA to NRT starting June
2013)
Non-stop International Destinations from DIA
Calgary, Canada
Cancun, Mexico
Cozumel, Mexico
Edmonton, Canada
Fort McMurray, Canada
Frankfurt, Germany
Ixtapa/Zihuatanejo, Mexico
Liberia, Costa Rica
London (Heathrow), UK
Los Cabos, Mexico
Mexico City, Mexico
Montreal, Canada
Puerto Vallarta, Mexico
Punta Cana, Dominican Rep.
Regina, Canada
Reykjavik, Iceland
San Jose, Costa Rica
Saskatoon, Canada
Tokyo (Narita), Japan
Toronto, Canada
Winnipeg, Canada
Colorado Office of Economic Development and International Trade | 9-24-13
Page 10
QUALITY OF LIFE
Lifestyle
Colorado’s excellent quality of life helps attract people from all over the world. A combination of stunning scenery,
recreational opportunities, moderate climate, world-class arts and culture, safe streets, and excellent health care
and schools make Colorado an ideal place to call home. When evaluating the state’s attractive features, Colorado
constantly ranks high in terms of healthfulness. People are particularly drawn to Colorado:
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Colorado’s abundant artistic and cultural resources with broad public and private support. The state is a
national leader in funding for the arts, which are greatly supported by the private and non-profit sectors.
Colorado has more than 300 days of sunshine per year.
Colorado is home to the fittest and leanest population, due to active lifestyles and access to the outdoors.
Colorado is the most popular ski destination in the US, with 26 world-class ski resorts.
Cost of Living
Colorado's historic focus on low taxes, coupled with Metro Denver's high household incomes, keeps the region's
cost of living near the national average for living costs. According to the Council for Community and Economic
Research, Colorado’s average cost of living is 30% below east and west coast cities.
Denver ranks just above the national average for cost of living, but well below many other major metropolitan
areas, as well as both coasts. According to the Council for Community and Economic Research Cost of Living Index
for the third quarter of 2012, Denver ranks slightly above the national average of 100, with a composite index of
105.1.
City , State
All Items
Grocery
Index*
Housing
Utilities
Transportation Healthcare
Goods and
Services
Boston, MA
Chicago, IL
Dallas, TX
Denver, CO
Los Angeles, CA
San Diego, CA
San Francisco, CA
San Jose, CA
Seattle, WA
Washington, DC
142.8
118.6
96.8
105.1
131.3
132.4
168.3
157.0
116.2
150.8
180.5
137.7
75.2
114.5
195.6
209.6
303.0
265.7
137.8
269.6
151.4
103.3
122.8
89.8
103.4
92.5
98.7
130.4
92.7
108.4
108.6
134.8
103.8
107.3
109.3
107.0
112.6
115.5
107.4
103.3
130.5
106.7
102.6
104.0
104.6
104.4
117.5
104.2
110.8
97.0
118.5
114.3
98.9
97.3
106.9
108.1
120.4
122.0
107.8
115.4
122.9
93.4
100.8
106.1
102.6
112.6
114.4
119.9
119.1
99.5
Colorado Office of Economic Development and International Trade | 9-24-13
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A SAMPLE OF COLORADO’S KEY INDUSTRIES
Advanced Manufacturing
Colorado manufacturers are highly innovative and use advanced processes to serve diverse sectors across the
Colorado economy - from electronics and consumer products to clean energy systems, aerospace vehicles and
medical devices. The industry is diverse and geographically disbursed across the state, with over 5,900
manufacturing firms, more than 120,000 employees, and $16.3 billion in annual economic output. Global shifts in
the manufacturing landscape are putting Colorado at the forefront of bringing advanced manufacturing back to
the United States.
Aerospace
Colorado's aerospace industry ranks 2nd in the nation for private sector aerospace employment. With four military
commands - Air Force Space Command, Army Space Command, NORAD and USNORTHCOMM – and space-related
Air Force bases, Colorado is a strategic location for the space industry. Along with major Department of Defense
facilities and NASA research activities, the state’s universities are among the world’s best for aerospace
engineering.
Bioscience
Colorado's bioscience industry is building one of the most exciting and advanced industry clusters in the country.
The state is currently home to a thriving industry, comprised of biotechnology, medical device, agriculturalbioscience, diagnostic, pharmaceutical, health care providers, research institutions and those businesses that
provide critical services and products to bioscience companies.
Electronics
Colorado’s electronics industry is capable of engineering, designing, and manufacturing everything from light
emitting diodes (LEDs) used for sustainable lighting, to remote radiation sensors used for space-based
applications. More than 300 R&D, manufacturing, and distribution companies exist in Colorado and provide
electronics products, components, and services to the commercial and industrial sectors.
Energy and Natural Resources
Colorado is a leader in energy conservation, renewable clean energy, and energy innovation. The state has an "all
of the above" energy strategy, promoting the development of a mix of energy resources including solar, wind,
biofuels, natural gas, oil and low-sulfur coal. Colorado defined "the new energy economy" and is a national leader
in wind, solar and geothermal energy.
Infrastructure Engineering
World-class engineering, design, commercial and civil construction firms call Colorado home, and they sell their
services to the world. From major water projects and environmental engineering to state-of-the-art airport and
utilities facilities design, the expertise comes from Colorado and is deployed everywhere.
Technology and Information
Colorado is a leading high-tech state with the second most educated workforce in the country, third highest
concentration of high-tech workers nationwide and high-tech exports totaling more than $2.9 billion per year. The
technology industry has deep roots in Colorado, with global players like Arrow Electronics, DISH Network, Liberty
Interactive, Liberty Global, Oracle, Clear Channel, Century Link, SAP and more.
To learn more about Colorado’s 14 key Industries, visit: www.advancecolorado.com/key-industries
Colorado Office of Economic Development and International Trade | 9-24-13
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COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE OVERVIEW
Who We Are
The Colorado Office of Economic Development and International Trade (OEDIT) works to create a positive business
climate, encourages dynamic economic development and is focused on building sustainable job growth across the
state. We offer a host of programs and services tailored to support business development at every level including
business recruitment and retention; business finance and incentive programs; the Colorado Tourism Office;
Creative Industries; Colorado International Trade Office; Colorado Small Business Development Centers; Film,
TV & Media; minority business services.
What We Do
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Build a strong public-private approach for economic development activities
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Monitor economic conditions throughout the state and strengthen regional economies
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Support entrepreneurs and small businesses
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Increase quality job creation by expanding and attracting businesses
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Maintain Colorado’s diverse economic base by retaining existing jobs through responsive
programs and a supportive business climate
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Position Colorado as a global leader in key industries
Strategy
Since the final draft of the Colorado Blueprint was published in October 2011, OEDIT has executed a strategic plan
focused on retention and growth in 14 key industries and the alignment of those industries across 14 regions
throughout the state. The targeted industries represent almost 60 percent of the state’s jobs and an equivalent
percentage of the state’s economic output. Our approach is simple: the most efficient and effective means of
adding jobs is to drive growth in the industries which are already strong within the state.
Colorado Office of Economic Development and International Trade | 9-24-13
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SERVICES FOR EXPANDING OR RELOCATING INTERNATIONAL COMPANIES
General Services
OEDIT helps international companies to establish, relocate or expand business operations in Colorado. OEDIT
assists the executives of foreign-based businesses with an interest in locating in Colorado by coordinating a
variety of services that include:
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Assistance with understanding the value and process of opening an office in Colorado
Customized site searches for available buildings or sites
Guidance on other technical issues, including workforce availability and recruitment, licensing, zoning,
permitting, etc.
Overviews of Colorado’s key industries and economic climate
Market research specific to the international company’s needs
Introductions to potential suppliers, buyers, government officials and/or the economic development
community
Information on Colorado’s business and financial incentives
Access to programs for work force recruiting and training
We also work with our partners in both Colorado and abroad to identify and contact foreign companies with
significant potential to establish or grow operations in the state. We plan and implement focused and efficient
trips to international markets to speak with current and potential investors.
Additional Corporate Relocation Services
Fast Permitting
OEDIT and its partner economic development organizations across Colorado save companies time and money by
helping with the site selection process at the state and local levels. In cooperation with their respective
municipalities, OEDIT can monitor and fast-track projects through the development process, as well as arrange
meetings with key regulatory agencies.
Supply Chain
OEDIT will provide support to supply chain partners located in Colorado. OEDIT will work to provide beneficial
resources, access to economic development programs, and coordinate assistance from local communities and
organizations. We can also work proactively to recruit out-of-state supply chain partners to Colorado, in the event
a vital supply chain partner is located out of state.
Employee Relocation
Temporary & Permanent Housing
OEDIT can create a customized program for recruiting current staff to Colorado. OEDIT can provide a relocation
overview and deep dive into the housing market in Colorado.
Colorado Office of Economic Development and International Trade | 9-24-13
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Real Estate Visits
OEDIT can assist companies who are relocating employees in its search for a customized temporary corporate
housing solution by facilitating in the assignment of a leasing specialist through one of the state’s premier
corporate real estate housing firms.
Brokers, Mortgage Lenders and Insurers
OEDIT can assist in coordinating and establishing relationships with real estate brokers, mortgage lenders, and
insurers in order to provide competitive interest rates, loan pre-approvals, and a streamlined process designed to
make home ownership and financing worry-free for employees.
Coordinating the Physical Move
OEDIT can coordinate with local and national moving companies to provide secure, efficient transfer of your
employees’ personal belongings. The team will assist in managing all aspects of the moving process, until every
one of your employees has been settled in to their new home.
Family/Spousal Support
OEDIT will work diligently to meet the demands for services, such as finding excellent primary and secondary
schools, safe extracurricular activities, and access to cultural and entertainment amenities.
In-State Tuition Benefit Immediately
Employees of companies moving to the state and their dependents will automatically be provided in-state tuition
rates to attend any one of the state’s public institutions of higher education.
Colorado Office of Economic Development and International Trade | 9-24-13
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FUNDING & INCENTIVE PROGRAMS
The State of Colorado offers a host of incentives for entrepreneurs and businesses of all sizes. Colorado has low
taxes and business costs, provides performance-based incentives to qualifying companies that create new jobs,
and offers customized training grants.
Job Growth Tax Incentive
The Job Growth Incentive Tax Credit provides a state income tax credit to a business undertaking a job creation
project for which Colorado is competing with at least one other state for the project, and where the project would
not occur in Colorado without this program.
Strategic Cash Fund Incentive
The Strategic Fund Cash Incentive program supports and encourages new business development, business
expansions and relocations that have generated new jobs throughout the state.
Enterprise Zone Tax Credits
Colorado's Enterprise Zone (EZ) program provides tax incentives to encourage businesses to locate and expand in
designated economically distressed areas of the state. The program encourages job creation and capital
investment by providing tax credits to businesses and projects which promote and encourage economic
development activities.
Job Training Grant Program – Colorado First
Colorado First grants are for companies that are relocating to Colorado or existing companies that are undertaking
a major expansion. The program provides financial assistance and helps individual businesses to design specialized
training through a cooperative effort with the Colorado Community College and Occupational Education System.
Colorado First is intended for new hires. Group training for small business with similar needs is available. The grant
may provide:
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Instructor's wages
Curriculum development
The purchase of consumable training supplies
Colorado Aircraft Manufacturer Tax Credit
Aircraft manufacturers located in a Colorado aviation development zone may qualify for a state income tax credit
of $1,200 per new employee. Under current law, the credit expires January 1, 2017.
In-State Tuition Benefit
Under House Bill 07-1256, the employees and their dependents that move to Colorado will automatically be
provided in-state tuition rates to attend any one of the state’s public institutions of higher education.
Colorado Office of Economic Development and International Trade | 9-24-13
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Local Government Incentives
Local governments can provide property tax credits or incentive payments based on the amount of increased
property taxes for qualifying new business activity in their jurisdictions.
Public Infrastructure Grants
The Infrastructure Assistance program is designed to create new permanent jobs and retain existing jobs,
primarily for low‐ and moderate‐income persons. The state may be able to provide specific support to retain jobs
or offers business-friendly tools that assist in retaining jobs (such as the Enterprise Zone Program) for this grant.
Manufacturing Sales and Use Tax Exemption
Colorado encourages manufacturers to locate their manufacturing operations in Colorado recognizing their
importance in Colorado's economy. Colorado provides an exemption from state sales and use tax on purchases of
manufacturing machinery, machine tools and parts.
AI Accelerator Programs
The Advanced Industries (AI) Accelerator Programs (HB 13-1001, HB 13-1193) were created in 2013 to promote
growth and sustainability in these 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.
Advanced industries are prime drivers of the U.S. and Colorado economy, comprised of engineering and R&D
intensive companies that deliver products and services in industries ranging from aerospace to medical devices. .
Colorado’s advanced industries include: Aerospace, Advanced Manufacturing, Bioscience, Electronics, Energy and
Natural Resources (including Cleantech), Infrastructure Engineering, and Technology and Information. The
economic impact of these industries account for nearly 30 percent of the state’s wage earnings, nearly 30 percent
of the total sales revenues across all industries within the state and nearly 35 percent of the state’s total exports.
As part of the statewide strategy to support these critical industries in their various phases of growth, OEDIT
offers four types of grants and a global business support program. Grants are available for Proof of Concept, EarlyStage Capital & Retention, Infrastructure Funding and AI Exports. A network of consultants and an export training
program are also available as part of the business support program to support these industries as they strive to
tap worldwide markets.
PROOF-OF-CONCEPT GRANT
• Applied research performed at Colorado research institutions
• Grant size limited to $150,000
• Matching funds shall be 3 (state) to 1 (institution)
EARLY-STAGE CAPITAL & RETENTION GRANTS
• Headquartered in or at least 50 percent of employees based in Colorado
• Less than $10 million in annual revenues and less than $20 million raised from investors
• Grant size limited to $250,000
• Matching funds shall be 1 (state) to 2 (private)
Colorado Office of Economic Development and International Trade | 9-24-13
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INFRASTRUCTURE FUNDING
• Grant size limited to $500,000
• Selection preferences will be given to those projects that:
◦ Accelerate economic growth in more than one advanced industry
◦ Include more than one research institution or a research institution and advanced industry
stakeholder
◦ Originate from nonprofit research institutions
◦ Focus on applied research and development, technology acceleration, or production-oriented or
◦ Focus on workforce development that addresses the advanced industries’ workforce skills that
are needed to facilitate commercialization of products or services
• Matching funds shall be 1 (state) to 2 (non-state)
AI EXPORT GRANT PROGRAM
• Provides stipends to businesses that are new to exporting or expanding into new export markets
• Grant size limited to $15,000
• Matching funds shall be 1 (state) to 1 (participant) for specific export-related needs
Colorado Office of Economic Development and International Trade | 9-24-13
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RECENT WINS
Ardent Mills, which will operate as a joint venture of ConAgra Foods, Cargill and CHS, announced in July that it will
make Colorado its headquarters. The joint venture transaction is anticipated to be complete in late 2013, and the
new company is expected to have a presence in the Denver area starting in 2014, contingent upon final approval of
incentive packages.
Cool Planet Energy Systems announced in 2013 that it would move its global headquarters to Greenwood Village
from Camarillo, Calif. The company, which has patented a process that converts non-food biomass into gasoline
through mechanical and chemical processes, will also open its first manufacturing facility in Colorado. Both
facilities will create hundreds of jobs over the next three years.
Terumo BCT Inc. plans to expand its global headquarters in Lakewood, providing the organization with the
additional space necessary to continue growing its business. With the new build, Terumo BCT will be able to bring
together all of its US based associates on its Lakewood Campus. The company will invest nearly $45 million and
add up to 250 jobs with average salaries of $69,000 to its existing 1,900 employment base.
TriZetto Corporation, a provider of information solutions that improve the efficiency and effectiveness healthcare
businesses, hosted a ribbon-cutting ceremony in 2013 at its new world headquarters at the Meridian Business
Center in Douglas County. The project generated 500 construction jobs and accommodates the more than 150 local
jobs that TriZetto has created during the past year.
In October 2012, Austrian company pewag announced it will open its first North American plant in Pueblo,
Colorado. This expansion will create 55 jobs and is a $10M capital investment.
Hitachi Data Systems (HDS) announced in October 2012 that the company will be opening a new office in the
Meridian Corporate Center in Douglas County. The new expansion will create hundreds of new jobs in the area over
the next five years. Employees will move into the new 53,000-square-foot building soon. The current employees
located at the existing HDS office in downtown Denver will be relocated to the new site.
J. Schneider Elektrotechnik GmbH, a leading manufacturer of industrial power supplies based in Germany,
celebrated the grand opening of its new 23,000-square-foot manufacturing center in Denver in July 2012. Company
officials chose Denver above other cities to globalize the manufacturing base for its three business units:
transformers, electric drive service centers, and high-voltage, uninterruptable power supplies.
The U.S. Patent and Trademark Office announced in July 2012 that it selected Denver as a site for one of four new
satellite patent offices to be located across the country. The expansion is expected to bring hundreds jobs and an
economic impact of $440 million in the first five years of operation.
Lockheed Martin Space Systems Company opened its new GPS III Processing Facility in February 2012, partnering
with the Air Force to invest $80M in the 4,645-square-meter manufacturing plant to build to up 32 new GPS III
satellites in the next two decades and employ up to 100 people at peak production.
Frontier Airlines announced in January 2012 that it would move its corporate headquarters from Indianapolis back
to Denver, placing its president, CEO and new senior management team in Denver.
Arrow Electronics, a Fortune 133 company with 12,700 employees worldwide serving 52 countries, moved its
global headquarters to Colorado in October 2011.
The Site Selection Guild Conference, held in February 2014, will bring the nation’s top site selectors to Denver for
three days of company meetings and tours of the region.
Colorado Office of Economic Development and International Trade | 9-24-13
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EUROPEAN INVESTMENT IN COLORADO
Stephanie Dybsky
International Business Manager, Europe, Middles East, and Africa
Colorado Office of Economic Development and International Trade
1625 Broadway, Suite 2700 | Denver, Colorado 80202 USA
+1 303.892.3840 | FAX +1 303.892.3848
www.advancecolorado.com
Colorado Office of Economic Development and International Trade | 9-24-13
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