Additional Support Needed: Advanced Industries Accelerator Grant Program
By: Colorado BioScience Association Date: 05/04/2020
On Tuesday, the General Assembly’s Joint Budget Committee (JBC) delayed a vote on the Advanced Industries Accelerator Grant Program. The newest recommendation from budget committee staff would eliminate all funding for this critical program. Legislators face difficult decisions with a projected $3 billion budget shortfall. The cuts will be deeper than we’ve ever seen, impacting all departments and programs.
The delay gives our ecosystem additional time to emphasize program’s positive impact on our life sciences ecosystem, our state’s economy, and ultimately, patients here in Colorado and around the world.
Your Continued Support Needed
We know our efforts are getting the committee’s attention. Thank you to those who already reached out. We encourage you to send a second email. If possible, please highlight your Advanced Industries Accelerator Grant success story or your work on COVID-19.
Thank you to those who already reached out. We know our efforts are getting the committee’s attention. We encourage you to send a second email. If possible, please highlight your Advanced Industries Accelerator Grant success story or your work on COVID-19.
- Job creation. This program has provided more than 450 grants to our life sciences ecosystem and generated more than $972 million in follow-on grants and investments.
- Economic engine. It has created 81 new companies and 975 direct jobs in life sciences alone.
- Investment accelerator. The program has brought over $794 million into the state through outside investment.
CBSA is exhausting all efforts to protect the Advanced Industries Accelerator Grant Program and explore new sources of funding for our ecosystem.
Please understand this situation is fluid. A vote could come this week from the Joint Budget Committee or in coming weeks when the legislature reconvenes. We will be asking for your ongoing outreach and support.