Gov. John Hickenlooper told Denver business leaders this afternoon that the legislature’s upcoming special session should revive business-related bills caught in the crossfire over civil unions.
“There were a lot of reasons we needed to have a special session beyond civil unions,” he told nearly 500 people gathered at the Hyatt Regency Denver for the Denver Metro Chamber of Commerce’s annual State of the State lunch.
Among them was a bill that would permit the issuance of bonds to repay federal loans made to the state’s Unemployment Insurance Trust Fund, which became insolvent after claims rose sharply during the recession.
Bonding would allow the fund to be replenished over time rather than through big premium increases on employers that might make them less inclined to hire.
That bill had backing from the chamber, the Colorado Association of Commerce and Industry and the National Federation of Independent Business, Hickenlooper said.
Another bill that expired would permit a new business structure in the state called a benefits corporation. It would allow a for-profit corporation to balance profit motives with charitable and social agendas.
Hickenlooper also used the speech to update the audience on Colorado Blueprint, his administration’s economic development plan.
“In the last year, we saw a clear turn in the state’s fate,” he said pointing to several big wins on the economic development front, including Arrow Electronics and a new General Electric thin-film solar plant in Aurora.
Hickenlooper complemented the collaboration shown during the session, but then took a jab at legislators willing to let economic development funds in the state run dry, including the Job Growth Incentive Tax Credit used to lure Arrow.
“We are at the edge of running out of incentives,” he said.
The average wage of the jobs Arrow is bringing to the state is $90,000 a year, he said, noting that Colorado will collect more in state income taxes than the $2,000 per year for five years that it pays out.
Arrow’s relocation in turn has attracted four other businesses and could eventually make the metro area a hub for the electronics components industry, he said.
He also noted that Arrow invests heavily in start-ups with an eventual goal of acquiring them.
“For too long, our entrepreneurs have been selling our companies out of state,” he said. Having Arrow in-state means that more of those start-ups could remain here.
Aldo Svaldi: 303-954-1410 or asvaldi@denverpost.com or
