OEDIT Convenes State Legislators for Session on Advanced Industries
By: Colorado BioScience Association Date: 12/10/2020
On Wednesday, the Colorado Office of Economic Development and International Trade (OEDIT) partnered with CBSA and the six other advanced industries to host an informational session for state legislators on the Advanced Industries (AI) Accelerator Grant Program.
Betsy Markey, Executive Director of OEDIT, kicked off the event and talked about how the AI Grant Program can accelerate Colorado’s recovery by creating high-paying jobs, directly contributing to our public health efforts, and helping to maintain our diversified economy.
Katie Woslager, who manages the program, gave a brief overview of how it works and shared powerful metrics on job creation and economic growth. From 2013 – 2020, there have been:
- $86.5 million in grants funded
- 503 projects funded
- 2,046 jobs created
- 2,198 jobs retained
- $1.66B in third-party capital raised
CBSA President & CEO Jennifer Jones Paton highlighted the economic impact of life sciences in Colorado and how the grant program has played a critical role in the growth and sustainability of our ecosystem. She also shared how the AI Grant Program has funded many companies that are actively working on COVID-19 relief efforts and contributing to our state’s public health response.
Finally, the program featured four early-stage companies that have received advanced industry grants and as a result, have been able to secure additional investments and grow their company here in Colorado. CBSA member Lightdeck Diagnostics had the opportunity to tell their story and help legislators understand why the program has been critical to their growth.
CBSA values our strong partnership with OEDIT, and we are grateful for their work over the past year to safeguard the AI Grant Program from severe budget cuts.
We also appreciate the support of our state leaders and members of the General Assembly, who champion critical programs at the state Capitol to accelerate the growth of our ecosystem and advance the development of breakthroughs for patients.