Lawmakers question need for state stimulus package

DENVER - Gov. Bill Ritter's plan to spend $5 million to boost Colorado's economy got a frosty reception Thursday from lawmakers who complained it was short on specifics and probably too small to do any good.

They also questioned whether the state needs its own plan since Congress just passed one worth $700 billion whose success is far from proven.

Ritter told the Legislature's Joint Budget Committee, which sets the state's spending priorities, that he wants to put aside $2.5 million to help small businesses get credit and another $2.5 million for job training at community colleges.

Committee members were skeptical.

"It has that sense of the U.S. bailout type of a situation," said Sen. Abel Tapia (D-Pueblo). "With that you have winners and losers and I don't know how you define these winners and losers. For $2.5 million, that's like one company, possibly."

House Minority Leader Mike May (R-Parker) said the best thing Ritter could do is remove barriers to oil and gas development, one of the state's biggest industries, and allow taxpayers to keep $120 million in property taxes that the governor is using to help local school districts.

"The government doesn't create jobs. His plan is to pick which businesses will succeed and which businesses will fail," May said.

Ritter told the lawmakers they were focusing on only a narrow part of his economic plan. He said it builds on a program that has been in place the past two years after the state devoted millions of dollars to job development. The incentive plan could include revolving loans for small businesses and training small business owners to get loans, he added.

The governor proposed designating Nov. 20 as "Keep Colorado Working Day," with seven job fairs as well as open houses at the state's 63 Colorado Workforce Centers offering job assistance. He also suggested setting up small business finance forums across the state beginning in December.

Ritter's plan is part of his proposed $19.2 billion budget next year, up 3.4 percent from the current $18.6 billion.

Economic Development Director Don Elliman told the committee that the governor's office is still working on incentives and should have more details when the Legislature convenes in January.

Sen. Gail Schwartz (D-Snowmass Village) said the Senate plans to set up a select committee on job creation that could consider Ritter's proposals.

During an exclusive interview, Ritter told 9NEWS Business Reporter Gregg Moss that Colorado is in better shape than many of its neighbors, but the state's economy can still use some help.

"We look at the indicators and we see that we are buffered from the worst of the downturn right now," Ritter said. "If we focus on job creation and do our best to weather the place we're in now, Colorado could emerge from this faster than other states."

"The clean energy sector in this state is pretty healthy," Ritter explained. "It's growing and we want to make sure that our education institutions are creating a workforce to meet the demand."

"We understand the role small businesses play in our overall economic activity, so we're going to provide capital to them," Ritter said. "We believe it will help to jump start a lot of the very small businesses that are worst hit in this type of economic downturn."

Finally, the governor is setting up nine meetings throughout the state to discuss Colorado's economy and encourage input from communities about ways to create new jobs.

"It is really important that we do this regionally. We can have a meeting here in Denver, but quite frankly, the economy in regions can look differently depending on where the downturn occurs," he said.

The Colorado Department of Labor and Employment has also set up the "Keep Colorado Working" hotline for employers with job openings. The number is 303-318-8004 and employers can also email the openings to coloradojobs@colorado.state.us.

Ritter has designated Nov. 20 as "Keep Colorado Working Day."

Below are a list of job fairs and workshops that are also being set up as part of the "Keep Colorado Working" program.

Keep Colorado Working Job Fairs

Weld/Adams County
New Energy Economy and Manufacturing Job Fair.
November 20, 10:00 a.m. - 12:30 p.m.
American Furniture Warehouse
Hwy 119 & I-25
Firestone/Longmont

Arapahoe/Douglas Works
November 20th
Job Interviewing Workshop: 12:30pm - 4:00pm
Job Fair: 1:30-3:30 p.m.
5500 S. Quebec St. Suite 175
Greenwood Village
Phone: 303-636-1160

Jefferson County Workforce Center
Right Mindset, Right Career - Free workshop and resume assessment
November 20, 2 p.m. - 3:30 p.m.
Evergreen Library
5000 Highway 73 (at Buffalo Park Rd.)
Evergreen
Registration & Information: 303-271-4601


Burlington Workforce Center
Job Fair
November 20, 3:00 p.m.-6:00 p.m.
Burlington Community Center,
340 S. 14th Street
Burlington

All 63 Colorado Workforce Centers will also be holding open houses on Nov. 20.

For more information, you can visit www.connectingcolorado.org.