About the Office of Economic Development and International Trade

As the economy recovers, Colorado is poised for a historic growth cycle. Our unique industry and workforce infrastructure is aligning to position the state as a global technology hub. A window of opportunity is opening for Colorado to redefine how economic development is accomplished. Government can’t create wealth itself, but it can provide the fundamental steps toward integration, communication, culture, policy and strategy that leverage all resources supporting industry, academia and the financial community – resources that the private sector cannot marshal on its own.

Integration means maximizing every business support activity offered by chambers of commerce, economic development organizations, trade associations, educational institutions and government. By working cooperatively, each can specialize and improve their services. The Colorado Office of Economic Development and International Trade (OEDIT) in conjunction with the Economic Development Commission and the University of Colorado at Denver and Health Sciences Center, took a big step toward integration by opening the Advance Colorado Center. The concept is simple. We are offering organizations the opportunity to become thriving, statewide leaders. They can now maximize resources, services and networks, and receive training in everything from grant writing to strategic planning, all the while sharing with each other their own considerable expertise and membership connections.

Communication is essential. A network of Small Business Development Centers and a myriad of other early stage business support programs are unhelpful if few know they exist. Last August, OEDIT launched a series of free eNewsletters accessed by subscribing at www.AdvanceColorado.com. After only six months, OEDIT sent over 160,000 eNewsletters to businesses all across the state to keep them informed of trends, issues and announcements while also providing links to services.

Culture is the heart of everything and economic development is no different. A talented team of community volunteers is helping the state create a strong brand and is offering communities support to develop their own identity and focus. The core principles we adhere to are greater self-reliance and self-determination all with an ever-present, confident sense of teamwork and shared problem-solving.

In the past, Colorado made the mistake of equating growth with economic development and it has cost us the ability to be strategic, rather than as we usually are, reactive to economic trends. If we want our most promising industries to thrive and provide high wage jobs, we must think and act for the long-term. Economic development is a 24-7-365 endeavor precisely because when it is done right, it is anticipating the world as it will be, not as it was.

Policy is where Colorado has excelled in recent years. By understanding hindrances and threats to the economy, the leaders of our state, from both parties, have adopted policies that support economic success. There is a reason why we have one of the most streamlined and fair tort systems in the country. There is a reason why the Fraser Institute ranks Colorado first in terms of economic freedom in North America. The reason is visionary political leadership. We need it every year, and in the upcoming Legislative Session there will be many opportunities to take new steps to position Colorado as a global leader.

Integration, communication, culture and policy are all essential ingredients of the final opportunity that comes from an enlightened economic development approach – strategy.