|Program||# of Grants||EDA Funds|
EDA awarded 11 grants in the state of Colorado totaling $672,034. These projects support the state’s network of Economic Development Districts as they build the foundation for long-term economic growth and prosperity and assist areas of the state impacted by severe weather.
Investment Spotlight: EDA’s Investment Encourages Tourism in Fire Ravaged Region
In the summer of 2012, adverse weather conditions in Colorado led to a series of severe wildfires in the Colorado Springs area, causing widespread property damage and significant economic losses. The fires swept through the region during the height of the summer season, closing many hotels and attractions that are the mainstays of the local tourism-based economy which employs approximately14,000 workers. With extensive news coverage of the fires, the negative impacts to the region’s tourism jobs lingered long after the fires subdued.
Lost business revenue and lost wages made it impossible for the area to recover without supplemental marketing to drive additional travel to the region over the remainder of the summer and fall travel season. In the wake of the fires, EDA worked with the Colorado Springs Convention and Visitors Bureau to help preserve critical tourism jobs. In September 2012, EDA awarded $200,000 to help the Bureau fund an advertising campaign in print, electronic and social media targeted at encouraging tourists to return to the area, spurring recovery of the region’s tourism industry.