Colorado Blueprint Focuses State Economic Development Efforts on Innovation

Colorado Gov. John Hickenlooper unveiled the Colorado Blueprint: A Bottom-up Approach to Economic Development, "a document that responds to outlines the steps that will be taken by the Hickenlooper Administration over the next few years to support and promote economic development across Colorado. "The plan consists of six focus areas and 24 action items to spur the state's economic development. The six areas are:

• Making Colorado more business friendly;
• Recruiting and retaining businesses;
• Increasing access to loans for businesses;
• Increasing tourism;
• Workforce training; and,
• Cultivating innovation and technology.

Each of the six focus areas include four action items, such as establishing a cluster-focused Information Technology Economic Development Advisory Council and creating a "demand-driven" workforce system. Other Technology-based economic development related initiatives include expanding venture and angel capital programs; increasing availability of quality entrepreneurial training; aligning the efforts of education, workforce training and economic development; and implementing the governor's Innovation Initiative and Innovation Network

The report provides item specific benchmarks to measure achievement of the action items and many of them have achievement timelines. The report also provides benchmarks to achieve in each focus area. However, the report does not provide a job creation goal or a specific increase in the state's average income.

In developing this plan, Colorado's Office of Economic Development and International Trade (OEDIT) employed a "bottom-up approach" by reaching out to citizens across the state to provide their input into shaping Colorado's economy. OEDIT held 50 town hall meetings and received input from more than 13,000 people in all of the state's 64 counties. Until August 10, 2011, OEDIT will welcome public comments regarding the plan. Read the report...