The Colorado Economic Development Commission denied Denver’s request to include Denver International Airport within its enterprise zone and removed the Gaylord Rockies Hotel from Adams County’s proposed zone.
“The enterprise zone is designated for areas of economic distress,” said Commissioner J.J. Ament.
Back in August, commissioners told representatives of both counties for including the DIA and the Anschutz Medical Campus or redraw their proposed enterprise zone boundaries.
Denver’s revised map removed the airport terminal, hotel and concourses but still included undeveloped land to the east and south.
The city has lost at least 5,000 jobs and $400 million in investment from projects that considered DIA but ended up locating near airports in other states, said Jeff Romine, chief economist with the Denver Office of Economic Development.
“We didn’t have infrastructure and incentives in place,” he said when asked why Denver lost out.
Development pays for new infrastructure, but without new infrastructure, businesses shy away. That’s where incentives can help, Romine said.
DIA, stuck in that loop for the past two decades, was hoping to break out after landing late last year, hammering out a revenue-sharing agreement with Adams County and by obtaining enterprise zone status.
Businesses in an can claim a 3 percent credit on equipment purchased, as well as credits for job training, new hires, and research and development.
But only 1,000 people lived on the airport environs that were being added to the zone, and there isn’t a way to ensure the jobs created would employ workers from nearby distressed areas.
Thursday’s decision could shift the dynamic between Adams and Denver counties by making development more attractive just outside of DIA’s boundaries.
Voters in both counties will vote on a new agreement next month to share tax revenues from on-airport development.
Although Denver lost the most, Adams County didn’t get a free pass.
Adams County stripped out huge parcels to the north and east of the airport in its revised map. After questioning, the county was allowed to retain the Anschutz Medical Campus but lost Gaylord, which is northeast of the 6400 block of Himalaya Road just south of DIA.
Given the project is slated to receive $81.4 million in state Regional Tourism Act incentives, commissioners didn’t want to layer on another tax benefit worth millions more.
“This is like Christmas for Gaylord,” said Chairman Dick Monfort.
Aurora Economic Development Council CEO Wendy Mitchell said the exclusion won’t alter the project’s finances.
“We weren’t counting on Gaylord being included,” she said, “and the developers weren’t aware of it.”
Aldo Svaldi: 303-954-1410, asvaldi@denverpost.com or @aldosvaldi
