Investors reap Ugly 3 defeat ROI

Back in 2003, the Metro Denver Economic Development Corporation (Metro Denver EDC) went to potential investors with six new focus areas to bring the region out of the recession: national marketing, new and existing business, mobility, tax reform, Denver International Airport/international flights, and special opportunities.

Businesses could readily anticipate a return on investment (ROI) in the first five categories, but some asked how our region and its companies would benefit from special opportunities--what we defined as capitalizing on situations as they arise to act in the region's best business interests.

Following Tuesday's resounding defeat of three measures that would have devastated our economy and stalled business growth for years to come-- Amendments 60 and 61 and Proposition 101--we hope you see a high ROI on your Metro Denver EDC investment.

Battling the "Ugly 3," after all, was one of those anticipated special opportunities, with the Metro Denver EDC and its investors providing $500,000 in initial funding to launch the battle waged by Coloradans for Responsible Reform. Along with the public policy muscle of the Denver Metro Chamber of Commerce, our organization has played the leading role of safeguarding our business climate in this election and in several other elections during the past decade.

In fact, since 2003, the Metro Denver EDC and its investor base have provided $2.6 million in crucial funding to advance opportunities and halt threats to our business community:

• $100,000 to defeat the Construction Defects initiative (2003)
• $750,000 for the FasTracks Yes! Campaign (2004)
• $750,000 in support of Referenda C&D (2006)
• $250,000 to promote a Munich nonstop flight (2007)
• $250,000 to battle the Poison Pills Amendments (2008)
• $500,000 to combat Amendments 60 and 61 and Proposition 101 (2010)

It goes without saying that we would have preferred to invest the $2.6 million in areas to move the barometer, such as national marketing or attracting new companies and expanding existing businesses. However, the passage of FasTracks and Referendum C were critical to our region's future economic success and, if any of the above anti-business measures had passed, we certainly wouldn't have much of a business climate to brag about and promote today.

The powerful defeat of the Ugly 3 is about leadership and decisive action in the face of threats. Thank you for your investment in the Metro Denver EDC and for taking a stand to protect and advance our economic competitiveness. Only 350 companies are investors in the Metro Denver EDC--that's less than one-half percent of all businesses in the region. It is you, this small, committed group of investors who, at critical moments in the region's history, have played pivotal roles in preserving jobs and the economy.

Stay tuned in the next few months on yet another special opportunity brewing in the business community--proactive efforts to preserve the integrity of our state constitution.