Behind job creation and a healthy economy.
The Legislative Session of the 67th Colorado General Assembly convened January 13, 2010. In late December 2009, legislative economists announced Colorado's cumulative budget shortfall for the current and next fiscal year had reached $1.5 billion. While a deficit of this magnitude leaves little room for new spending, lawmakers are hoping to launch several job creation programs.
Governor Ritter unveiled his legislative priorities for 2010 that include a series of proposals that would establish tax-favored savings accounts for job training dollars and expand student loan forgiveness and repayment programs for healthcare professionals. Gov. Ritter also introduced a certificate program that will allow jobseekers to take basic math and English competency tests at Colorado workforce centers. Jobseekers can then list official gold, silver, or bronze-level certification as part of their credentials. The certificate program is effective immediately.
In 2009, Colorado Governor Bill Ritter signed into law economic development bills which:
- Provide tax credit incentives for companies that create at least 20 new jobs.
- Provide hundreds, possibly thousands, of small and family-owned businesses with immediate access to capital and credit through a Colorado Credit Reserve Program.
- Expand Colorado First workforce training programs at community colleges, particularly for New Energy Economy jobs in renewable energy, energy efficiency, and energy conservation.
- Invest in New Energy Economy companies, projects, and jobs through the Colorado Clean Energy Fund.
Gov. Ritter signed into law a significant economic development package during the 2008 legislative session to enhance the competitiveness of Colorado and its top industries:
- Simplifying Colorado's corporate income tax structure through a "single factor" apportionment, allowing companies to pay taxes based solely on their "sales" in the state.
- Raising Colorado's Business Personal Property Tax exemption from $2,500 to $7,000 over the next five years.
- Eliminating the "Fly Away Tax" on small jets manufactured in Colorado and sold in other states or countries.
- Creating a $3.5 million annual fund to support Colorado's burgeoning bioscience industry.
The Metro Denver EDC and the Denver Metro Chamber of Commerce (DMCC) continue to concentrate on the key issue areas outlined in Referendum C–healthcare, education, and transportation–each as they relate to economic vitality and health of the business community.
Focused on preserving and enhancing a competitive business climate in the Centennial State, the Colorado Competitive Council (C3), an affiliate of the DMCC, is a statewide organization providing direct lobbying and business advocacy at the state legislative level. C3 steering committee members and investors represent organizations and business interests from across Colorado.
Comprehensive legislative reports prepared by Danny Tomlinson, lobbyist for the Economic Development Council of Colorado (EDCC), are included in the helpful links below. The reports include detailed, up-to-date bill summaries on legislation affecting economic development and businesses in Metro Denver and Colorado.
Helpful links: