DENVER – The bipartisan Advanced Industries Exports Accelerator Act was introduced today as House Bill 13-1193 in the Colorado House of Representatives. The legislation will create a comprehensive international export development program for Colorado’s advanced industry businesses that are new to exporting or expanding into new international markets. The bill is sponsored by Reps Tracy Kraft-Tharp (D-Arvada) and Mike McLachlan (D-Durango) and Sens. Cheri Jahn (D-Wheat Ridge) and Ellen Roberts (R-Durango).
“Exports are critical to Colorado’s prosperity, fueling economic growth, supporting good jobs at home, bringing new money into the local economy, and driving productivity and innovation,” said Ken Lund, executive director of OEDIT. “This bi-partisan bill will help Colorado’s advanced industry businesses conquer some of the challenges that sometimes occur when branching out to global markets, and ensure that our companies have the right resources to help grow and accelerate their businesses at home and internationally.”
HB 1193 is a tool for Colorado’s small and medium-size advanced industry businesses that don’t have the resources needed to engage in international export development. It will provide financial resources, training and consulting services needed to engage in international export development.
"In combination with the Advanced Industries Acceleration Act, this bill will make Colorado a major player in the advanced industries, producing high-paying skilled jobs and a strong, sustainable economy," said Rep. Kraft-Tharp.
"I'm pleased to be a sponsor of this bill, which will strengthen the economy in my district and across Colorado,” said Rep. McLachlan.
“This bill would provide critical assistance to small businesses in Southwest Colorado,” Sen. Roberts said. “This legislation will help our small businesses advance into new markets and make them more competitive in the global economy.”
“Colorado is a state with vast ingenuity. When we invest in high-tech businesses, we can expect bountiful returns. Businesses within the advanced industry sectors hire high-tech workers and support workers who aren’t necessarily trained in highly technical fields. That means we can expect more job opportunities for all working families,” said Sen. Jahn.
Colorado exported an estimated $7.9 billion to 234 countries in 2012 and Colorado’s manufactured exports and commodities are projected to be $8.4 billion in sales in 2013, an 8% increase. According to the U.S. Department of Commerce, one job is created for every $165,000 in exports, which equates to approximately 50,900 jobs created in Colorado. If you add service export projections to that number, another estimated 56,000 jobs are tied to exporting.
“Within the next five years, 87% of the world’s economic growth will take place outside of the U.S., so it is a smart move for Colorado businesses to start exporting their goods and services and expand into global markets,” said Sandi Moilanen, International Trade division director at OEDIT. “We want to help Colorado companies expand their businesses effectively, and HB 1193 will ensure that we can provide the best tools possible.”
Advanced Industries Export Accelerator Act Details
International Export Expense Reimbursement