Senate Committee Passes Bipartisan Legislation to Help Grow Colorado Industries

Monday, February 13 2012

DENVER – Today, the Senate Business, Labor and Technology Committee approved bipartisan legislation sponsored by Senator Rollie Heath (D-Boulder) and Senator Mark Scheffel (R-Parker) to strengthen and grow Colorado’s key industries as part of the state's larger economic development plan.  Senate Bill 144 directs the Colorado Office of Economic Development and International Trade to work with stakeholders to develop a strategy to support job creation and growth in Colorado’s key industries.  

The state’s key industries were identified in an independent analysis of state economic data including wages, gross domestic product, and employment figures. Senate Bill 144 builds upon Governor John Hickenlooper’s  Colorado Blueprint, a bottom up approach to economic development, designed to make Colorado more economically competitive.

Senator Heath offered the following comment on the passage of Senate Bill 144 today:

“It is imperative to our future success that we work with our business leaders and stakeholders to develop a clear and comprehensive economic strategy for the industries that are driving our economy.  By pooling our state, local, and regional resources we can continue moving Colorado’s economy forward.”

In order to develop the key industries strategy Senate Bill 144 will require the Office of Economic Development and International Trade to:

•     Indentify all stakeholders and relevant organizations related to a key industry including businesses, educational institutions, and industry and trade associations

•     Provide administrative support for the creation of an economic development plan for the specific industry

•     This plan will identify any current financial barriers, review government regulations related to the industry, develop marketing strategies, review educational and training availability, look for measures to support and expand, and find opportunities for increasing the industries competitiveness and innovation

•     Review the plan with stakeholders to identify potential policy proposals that would help the industry grow

•     Create a report for each key industry and deliver this report to the general assembly

This bipartisan legislation will be sponsored in the House by Representative Ken Summers (R- Lakewood) and Representative Su Ryden (D-Aurora).