OEDIT Article

OEDIT pushing harder to attract companies to Colorado

A dramatic shift is going on at the Colorado Office of Economic Development and International Trade (OEDIT): the eco-devo agency is aggressively pursuing companies to expand or relocate into Colorado rather than waiting for the companies to seek help from the state.

This increased aggressiveness originated with “The Blueprint,” the statewide economic development plan that Gov. John Hickenlooper and Ken Lund, OEDIT executive director, released in August 2011. It emphasized that the state must work closer with business and local eco-devo organizations to respond to company needs. Lund and Hickenlooper realized that while states such as Texas and Utah throw more money and incentives at potentially relocating companies, Colorado can tbecome more aggressive and more efficient with its incentives to compete for precious jobs.

Business-development teams from OEDIT now identify companies that have a presence in Colorado, and ask them how easy or difficult it is to do business in this state and how it can serve the companies’ future needs. Also, every two weeks, select members of Gov. John Hickenlooper’s Cabinet meet to talk solely about economic development and to coordinate strategies across departments. And some leaders of other departments join OEDIT on economic-development missions to other parts of the country.

The result: Hickenlooper and Lund have announced a number of companies that have committed to expanding in the state in the past six months — including Visa Inc., Redwood Trust Inc. and On Deck Capital Inc.

For more of this article, click here: OEDIT pushing harder to attract companies to Colorado – Denver Business Journal