Joint Budget Committee Delays Action Again on Advanced Industries Accelerator Grant Program
By: Colorado BioScience Association Date: 05/18/2020
Last week, the Colorado General Assembly’s Joint Budget Committee (JBC) continued their work to balance the state budget and considered many of the remaining budget cut recommendations for each state department. At the end of the week, the JBC revisited the budget recommendations for the Office of the Governor, which includes the Advanced Industries Accelerator Grant Program.
The staff analysts for the Joint Budget Committee continued to recommend eliminating a significant funding source for the Advanced Industries Accelerator Grant Program, but the Office of Economic Development and International Trade and the Office of State Planning and Budgeting have opposed that recommendation. In their opposition, they have emphasized the critical role of the advanced industries in supporting the response to COVID-19 and accelerating Colorado’s economic recovery.
The Joint Budget Committee had a robust discussion about whether to eliminate the advanced industries transfer, but they ultimately decided to delay action again and seek additional information about a compromise reduction.
CBSA continues to communicate the value of the program for our life sciences ecosystem and the state of Colorado. We are closely monitoring the budget hearings, and we will keep our community updated on any developments.
There has been incredible support and engagement from our ecosystem over the past few weeks as we’ve fought to protect the Advanced Industries Accelerator Grant Program. We are so grateful to everyone who has engaged on the issue and shared their story with legislators.
Many committee members have made comments about the importance of the advanced industries and our role in the response to COVID-19. We know your outreach is making a difference. Thank you.