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Job-creation proposals allow state to 'up our game'

Published February 25, 2009 at 12:05 a.m.

Denver is in the running with Chicago to land the national headquarters of an alternative energy company, a top economic-development official said Tuesday, as he told legislators that a package of job-creation bills would enable Colorado to "up our game."

Tom Clark, executive vice president of the Metro Denver Economic Development Corp., praised the efforts of a bipartisan panel that referred about two dozen proposals to the legislature for consideration. They include an income tax credit for companies that create at least 20 jobs and grants to employees who receive "new-energy" job training.

"For the first time, we're on par with states we typically compete (against)," Clark said as the Joint Select Committee on Job Creation and Economic Growth met for the last time. "What you did has allowed us to up our game."

Sen. Gail Schwartz, a Snowmass Village Democrat and the committee's chair, said the panel was "very focused on keeping Coloradans working . . . . This is not a partisan issue."

The state's jobless rate was 6.1 percent in December, up from 5.8 percent in November but well below the 7.2 percent national rate.

The job-creation bills are in various stages of passage, and Schwartz acknowledged afterward to reporters that "maybe Colorado is not ready for all of them now." There often is disagreement over the extent the state should offer tax credits and other financial incentives to businesses.

The committee met more than a dozen times and listened to testimony from more than 60 people. The bills aim to promote the growth of small businesses and the "new-energy economy," and build the infrastructure of schools, highways and high- speed Internet services.

An exact price tag wasn't disclosed, but panel members have said previously that many measures can be implemented with little new funding and small increases of fees.

Clark said his group has conservatively estimated the key measures, if passed and signed into law, would help create 6,300 jobs in the metro area over the next three years, representing a net employment gain of 1.75 percent.

While there have been previous efforts to improve Colorado's business climate, Clark characterized the panel's work as the most comprehensive strategy yet.

Clark said he doesn't know which alternative-energy company is eyeing the Denver area for a possible North American headquarters. But he said site-selection officials have told his group that it's between Chicago and Denver. He said he assumes the company is based in western Europe.

Schwartz said one bill she hopes passes soon would expand funding to complete an inventory of high-speed Internet services across the state.

That would help Colorado get to the "head of the line" for some of the billions of dollars of rural broadband funding provided for in the federal stimulus package, she said.

Patricia Barela-Rivera, a member of the panel's business advisory group, thanked the lawmakers for supporting small businesses, which she said number 129,900 in Colorado and constitute a "vital force to creating jobs."

Business-friendly

Some of the bills being recommended to the legislature:

* House Bill 1001: Would provide an income tax credit to firms that create at least 20 jobs and retain them for at least a year.

* Senate Bill 171: Would expand job-training grants to include employees who receive "new-energy" job training at community colleges or private companies.

* Senate Bill 85: Would phase out business personal property tax.

* Senate Bill 233: Would provide a tax credit for some home businesses.

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