Delta firm helped by rural-economy funding in bill
DENVER — A Delta company was among those that benefited from a new state program designed to help boost economic development in rural parts of the state.
And thanks to added funding for the state’s newly created Rural Economic Development Initiative, which was in a bill Gov. John Hickenlooper signed on Tuesday, more rural companies will be able to apply for grants to help expand their operations, he said.
“This program delivers much needed funds and technical expertise to rural Colorado communities,” Hickenlooper said while signing HB1241. “(The initiative) supports plans and projects that create jobs, drives capital investment and increases wages to help grow and create economic diversity in rural economies.”
TK Mining Holdings Inc. was one of the first companies to receive aid from the program. The Delta firm received a $50,000 grant toward a $300,000 project to expand its facilities and hire new workers.
The program has a grant budget of about $2.7 million, of which $530,000 has already been awarded to various companies around the state, from upgrading an industrial park in Brush to helping a micro-brewery in Buena Vista add new jobs at its cannery.
Currently, the program is considering awarding grants to seven other projects that will spur up to $20 million in private capital investment and result in 150 rural jobs, the governor said.
The bill was a routine supplemental appropriations measure to provide additional funds to the Department of Local Affairs, which administers the program with the Governor’s Office of Economic Development & International Trade.