Helping Colorado Companies to Go Global

(Feb. 14) – Another Democratic job-creating bill made a successful debut today when the Advanced Industries Export Accelerator Act passed the House Business, Labor & Economic & Workforce Development Committee on a 7-4 vote.

HB13-1193 would provide matching seed money, up to $15,000, to help a qualifying Colorado advanced-industries business develop an export operation. The program would include training and consultation services through the state Office of Economic Development and International Trade. Eligible companies would be in advanced manufacturing, aerospace, bioscience, electronics, energy and natural resources, infrastructure engineering, and information technology.

Rep. McLachlan told the committee that in the next five years, “87 percent of the world’s economic growth will take place outside the United States. We want Colorado to be at the table.”

He said the majority of the Colorado companies that would benefit from the program would be small and medium-sized concerns that don’t have the resources or knowhow to tap international markets.

Rep. Kraft-Tharp noted that OEDIT would be able to charge a fee for its training and consultation services. “We’re creating an efficient way for companies to springboard themselves into the global economy,” she said.

The OEDIT director, Ken Lund, testified in favor of the bill.

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