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Four Companies Successfully Convert to Employee Ownership with Colorado Employee Ownership Grant

Four Companies Successfully Convert to Employee Ownership with Colorado Employee Ownership Grant

DENVER -- The Colorado Employee Ownership Office, a division of Colorado’s Office of Economic Development and International Trade (OEDIT), announces four employee ownership conversions from round three of the Employee Ownership Grant.

The Employe Ownership Grant launched in 2021 to provide Colorado-headquartered small businesses with funding to reimburse professional technical service expenses incurred when transitioning to employee ownership. Businesses that applied for this program and successfully converted to an employee ownership structure offering at least 20% of the company’s equity to employees received a $3,000 grant to cover conversion expenses, including accounting, legal, business valuation and other technical services.

In January, four businesses that participated in the grant successfully converted to an employee-owned structure:

Davinci Sign Systems, Inc., Windsor (Employee Stock Ownership Plan)
Enduro Bites, Colorado Springs (Direct Stock Grant)
Fancy Tiger Crafts, Denver (Cooperative)
Mile High Audio Video, Englewood (Restricted Stock Plan)

“One barrier that businesses face in converting to employee ownership is transition costs. Our goal is to mitigate this barrier via this program and the new Employee Ownership Tax Credit Program,” said Nikki Maloney, Interim Director of Business Support and Rural Prosperity at OEDIT. “The Employee Ownership Grant program has four cycles in 2022, with each round open to up to 20 converting businesses. Our goal is to make the process more accessible, so more Coloradans can start experiencing the many benefits that come from employee-ownership.”

The Employee Ownership Office is offering four grant rounds in 2022 for businesses to participate in the program. Round two opens for applications on April 4 until May 6, with a successful conversion required by June 17 to be awarded funds. To receive funding, each round requires that businesses complete their transition by the deadline stated on the Employee Ownership Grant webpage.

Businesses in the early stages of conversion are also encouraged to explore the Employee Ownership Tax Credit program, which is available to Colorado-headquartered businesses converting to either an Employee Stock Ownership Plan, Worker Owned Cooperative or Employee Ownership Trust. The program offers tax credits based on the structure type to cover up to 50% of a qualified business’ conversion costs for use on their state income taxes. 

Visit the Colorado Employee Ownership Office’s website to learn more about employee ownership, consulting services, open programs and funding opportunities.

Call for Developers - Build a Global Energy Business Park

Call for Developers - Build a Global Energy Business Park

Call for Developers to Partner with the State of Colorado

to Build a Global Energy Business Park Next to the National Renewable Energy Laboratory

Jan. 19, 2022 - Welcome to the future Global Energy Park, where leaders from around the world will come together to tackle the planet’s most complex and imminent energy issues. Located in the heart of Colorado’s internationally-recognized energy research and innovation ecosystem, right next to the uniquely important U.S. National Renewable Energy Laboratory (NREL), this development will be a marquee campus where industry, government, and academia will gather to lead the global transition toward clean, renewable, sustainable, and equitable energy solutions. We invite prospective developers to partner with the State of Colorado and submit proposals in response to the Invitation to Negotiate, located on the ColoradoVSS site. Technical support while using ColoradoVSS is available from the Help Desk at vsshelp@state.co.us or 303.866.6464.

A unique opportunity to construct a globally-recognized campus.

The Global Energy Park (or “Glo Park”) will be an epicenter of collaboration between industry, government, and academia focused on innovation in the future of energy. The flagship facility, adjacent to the world-renowned National Renewable Energy Laboratory, will serve as an initial, high-profile focal point of the Glo Park. 

The highlighted yellow area in this map approximates the conceptual boundaries of the Glo Park. Within the park, in the highlighted green area, is a 9.37 acre green parcel where developers are invited to partner with the State of Colorado in a long-term ground lease to build a “north campus” which would be a suite of buildings housing some of the most prominent companies in the world who are dedicated to the future of energy. 

The campus will be state-of-the-art, using smart, green building technologies to yield a high-performance, sustainable, net-zero facility.  Exterior common areas will support a variety of activities including educational demonstrations, technology installations, and outdoor gathering places that blend with adjacent open spaces. On-site laboratories and immersive computational rooms will enable NREL researchers and partners to conduct joint research and experiments and quickly visualize results using immersive computational rooms. Modular office wings will accommodate a variety of tenant footprints and co-working environments. 

The facility will be a model of adaptability and flexibility, serving as a demonstration site for research breakthroughs to transform the building industry, providing unparalleled access to NREL's unique expertise as well as NREL's advanced equipment, analytical and data-processing abilities. The property will support up to 100 visiting partners who will work closely with NREL research staff and leverage NREL's expansive existing cohort of resident and remote partners.

Stakeholders lower developer risk by attracting tenants

The State has assembled a coalition of stakeholders who are committed to de-risking the project for the developer in helping to identify and recruit a broad and deep tenant mix that seek this unique opportunity to be next to NREL. There is already interest from:

A global power management technology company with 100,000 employees, doing business in more than 100 countries, and creating energy products and services that help customers effectively manage electrical, hydraulic, and mechanical power more reliably, efficiently, safely, and sustainably.
A multinational mining company actively integrating new methods to make its business lines and operations more sustainable by utilizing non-carbon renewable energy.
A U.S Military partner focused on decarbonizing its organizational footprint and creating energy efficient operational models and blueprints for others to follow.
A multi-state utility working to transition the power sector to a 100% carbon-free portfolio of renewable energy sources by 2030, bringing critical technology and infrastructure into communities and the marketplace, and redefining services to support the electrification of transportation and residential offerings for consumers. 
NREL also expects to occupy space in the facility, attracting additional private partners and increasing public-private collaboration outside of its secure facility. NREL has contributed to more than $1 billion in R&D contract value. The Glo Park will provide industry access to NREL research capabilities and facilities, leveraging their existing equipment and unique laboratory assets. Glo Park tenants will not only collaborate with a diverse consortium of industry participants, they will also enjoy access to NREL’s state-of-the-art tools and data, testing and simulation facilities, technologies, and market expertise to advance their business initiatives.

Benefits in developing with the State of Colorado

As the land is owned by the State of Colorado, the chosen developer would enjoy fast-tracked permitting outside of local zoning and codes. In addition, the State and its partners are actively pursuing several grant and philanthropic opportunities that would enhance the viability and opportunity in constructing this facility. The Glo Park was part of the 60 proposals chosen out of over 500 in a Build Back Better grant from the EDA. Acquired funding would be targeted towards the building of and enhancements to common areas and outdoor spaces, including unique laboratory equipment that is desirable to tenants. The State is also open to discussing tax credits and finding other ways to minimize costs, and speed approvals and implementation to increase viability.

Resources for Developers to partner with the State of Colorado

Glo Park promotional video (TBD) 
Doing Business with the State of Colorado
Checklist for design/build projects with the Colorado Office of the State Architect
General procurement and contracting: State Purchasing & Contracts Office
Project Management Policies & Guidelines
Use the ColoradoVSS site to respond to the Invitation to Negotiate (search under ITN # 2022000007) 
Help Desk at vsshelp@state.co.us or 303.866.6464
 
Video: GloPark for Developers

New to state procurement?   View the ITN

To find the ITN at the ColoradoVSS website:

Choose "Public Access" from the left column. A new browser window should open.
In Keyword Search, type in the ITN number: 2022000007
Find the result titled: ITN - Colorado Global Energy Park Public-Private Partnership
Select "Details"
Select "Attachments" tab
 

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Resources for Coloradans Impacted by the Marshall Fire

Resources for Coloradans Impacted by the Marshall Fire

Today Boulder County announced the addresses of homes and businesses impacted by the fire. There are resources available to those impacted by the devastating wildfires. Please find below information about how to access behavioral health support and the next steps to take related to insurance and financial assistance. President Biden today approved the Colorado Disaster Declaration making federal funding available to affected individuals in Boulder County.

Resources, Donations Made Available To Those Impacted By Boulder County Fires

Resources, Donations Made Available To Those Impacted By Boulder County Fires

Numerous resources are available to those impacted by the devastating wildfires across Boulder County. As well, several different sites are accepting donations for those impacted by the fires. The most effective way to support people impacted by the Boulder County fire is to donate money.

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