Expansions, relocations increasing in Denver - Business First of Columbus:

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Downturn? What downturn, they ask today. “We callede an end to the recession onMarch 31st,” said Tom Clark, executivd vice president of the Of course, businesds drumbeaters such as Clark make their living talkingb up a cheery news line. But a look at the recent statisticsw and trends seems to confirm that despitesome still-negative indicators, the seven-county region has weathered the turmoik better than most, and is poisecd to continue attracting new business and generating At the same time, there’s ongoing activity in nurturing and energizing scores of existingf companies, large and small, as well as helpingf them tap into the billions in federaol stimulus money heading to Colorado.
A string of relocationds and expansions spotlights accomplishments ofthe region’ lead promotional engine, the Metrl Denver EDC. Last month’s landing of the Californiq health-care provider was the latest othersinclude , Pulte Mortgage, and Ascent Solar. DaVita’ decision to place its executive offices in Denver points up the growing importancre ofthe region. In the past six 31 companies — among them , , and have announced plans to establisy or relocate their mainofficese here, according to Clark.
Interestg from outside companies Clark said his office was in touch with68 “live” prospects — companies interested in Denvedr — in the first five months of slightly ahead of last year. “Thart was a stunner — we expectedf the number to beway down,” Clar k said, plus he added that “today’s projects are bigge r and more serious.” Activity also is brisj at the (OED). With its focus on energizingh and expanding businesses already the agency is busy counseling and assistingg small companies in the waysof today’xs fast-changing economy.
For Executive Director André Pettigrews and staff, that means aidinbg often-struggling entrepreneurs in the regulatory arena and helping them to accesz new funding and A drop-off in commercial construction and a virtual drying up of venturew capital — the lifeblood of small businessw — have taken their But that’s being offset by a boostg in public construction, thanks to federa l stimulus money. The challenge for Pettigrew and othe r Denver officials is helping local business geta front-row positiojn at this new federal spigot, which he estimates will deliver some $1.4 millioj directly to the local commerciao sector.
“There are 140 bucketse of fundingout there, so the challenge is accessing the rightf one,” he said, explaining how his office is seekin g to steer applicants through the bureaucratid maze. “We want to get more than our share for Denver.” Other new federalk money from the Department of Labor is being funneledd into retraining displaced workers and, in some cases, for outrightg worker wage subsidies for struggling businesses. His officde has helped young companies to broadenn their presence andmarketinv reach: • , a manufacturer of low-energy air-conditioners, now has a numbedr of units in place in librariees and other public buildings.
Tony’s Market, a locapl specialty foods chain, openedf a Golden Triangle outlet on June10 thanks, in to a $350,000 gap-financing loan — part of a $5 millioj kitty the OED uses to leverage an additiona $20 million in outside financing to stimulate job creation and revitalize neighborhoods. From the same pot, the city kickedx in a $1.25 millionn loan for a face-lifting of the historic Fontius Building, now rechristenedr the Sage, at 1575 Welton St. And Mangi Media, a budding Internet marketing firm, got technicapl assistance from the city when it relocated last monthg from Boulderto LoDo.
Pettigre w is convinced that smallendeavors — oftej with 10 or fewer employes — are the core of Denver’e vitality, and that seeking out, serving and understandingg them is a key to “By nature, they are he said. “They will grow the fastestf and bringus out.” With that in the OED is putting more attention on one-to-one and publicizing its services and business