Metro Denver EDC exceeds BreakThrough! fundraising target

Creating jobs, promoting mobility, and marketing Metro Denver top goals

The Metro Denver Economic Development Corporation (Metro Denver EDC) has surpassed its BreakThrough! Denver campaign target of $12.5 million, raising $13.3 million.

The $13.3 million is combined cash and in-kind donations from private business investors and the Denver Metro Chamber of Commerce. This money has been earmarked for an aggressive, five-year plan to restore economic vitality to the region and to brand the Metro Denver area as a sustainable hub for companies, entrepreneurs, and employees.

The Metro Denver EDC's goal is to use these funds to create 100,000 new jobs in the next five years. To meet this goal, the corporation is working to develop and expand the business base, solve traffic and congestion issues, curb ballot initiatives detrimental to business, and promote Colorado nationally as a business-friendly state.

"We had a strong outpouring of interest from leaders in the business community to reach our goals and resolve any issues standing in the way of Metro Denver's success as a national business contender," said Tom Clark, executive vice president of the Metro Denver EDC. "In 2004, our initiatives created tangible results for the metro area."

The Metro Denver EDC and its partners throughout the region worked with companies to expand, relocate or invest in the metro area. In 2004, successes included Dean Foods choosing Broomfield over Dallas as the consolidation site for regional operations. The campus is expected to employ 500 workers. Ameriquest Mortgage Company revealed plans to open a 25,000 square-foot, state-of-the-art data facility in Douglas County. Roughly 150 workers will be employed at the site, with an average salary of $75,000 per year. Defense and technology leader Raytheon will expand its Aurora campus with a 150,000 square-foot office building. The expansion will be completed this year, adding 350 new workers to the area. As a result of a Metro Denver EDC retention project, distribution management giant ProLogis will remain in Colorado, creating its world headquarters in the metro area. In addition to a planned investment of $15 million into its own business, ProLogis' $25,000/year Metro Denver EDC investment helped push past the $12.5 million goal.

"These companies chose the metro area not just because of our high quality of life, but also because Metro Denver EDC invested in our region, making it a good place for business," said Nancy Tuor, Metro Denver EDC Executive Committee co-chair.

The Metro Denver EDC and the Denver Metro Chamber of Commerce supported the FasTracks light rail initiative on the 2004 General Election ballot. Investing $500,000 and providing another $250,000 in loans to the campaign, the Metro Denver EDC estimates FasTracks will bring 5,000 new jobs to the area.

In 2004, the Metro Denver EDC also contributed $100,000 to the campaign against Amendment 34, a ballot initiative deemed unfriendly to Metro Denver's economic vitality. Colorado voters defeated the proposal that would have increased frivolous lawsuits against builders, tying up courts and raising prices for homebuyers.

To continue to get the word out about Metro Denver to the national business community, Metro Denver EDC launched their National Marketing Campaign by creating a comprehensive web site, www.metrodenver.org, and also the nation's largest economic development Web site. In addition, DCI-Denver (Developers Counsellors International) and PURE Brand Communications were selected for its national public relations and advertising campaigns to promote national marketing.

Metro Denver EDC's role in the successful passage of FasTracks led to a media trip to New York City with Denver Mayor, John Hickenlooper, Frontier Airlines President, Jeff Potter and Tom Clark. The trip garnered meetings with Time Magazine, The Economist, National Journal, The Wall Street Journal and Forbes. The group also met with television and international reporters interested in Metro Denver's expanding transportation infrastructure. The November 11th issue of The New York Times featured a FastTracks article on the front page.

"Our five-year plan has launched with a roaring start," said Tom Clark. "New company relocations and expansions, the $4.7 billion FasTracks build-out and our other initiatives will move us toward our target of creating 100,000 new jobs by 2008 to strengthen Metro Denver’s economy."

The Metro Denver EDC, an affiliate of the Denver Metro Chamber of Commerce, is a public-private, not-for-profit economic development organization. Founded in its current form in 2003, the Metro Denver EDC’s initial goal was to raise funds for a five-year, economic development program to create jobs in the area. Primary funding for Metro Denver EDC comes from private-sector investors, plus participating cities and counties. Initiatives are developed with member organizations with final decision-making authority resting with an investor board of directors. For additional information, e-mail info@metrodenver.org or call 303.620.8092.