Innovative Venture Capital Program To Bring Millions Of Dollars To Rural Colorado

The CAPCO program, which has been proven successful in several states, was awaiting to be enacted in Colorado back in 2001:

CAPCO program, which awaits governor’s signature, has spurred significant economic growth in several states and could bring same prosperity to Colorado.

The Certified Capital Company (CAPCO) program, a highly successful economic development initiative aimed at creating jobs and fueling entrepreneurial activity in Colorado, could bring at least $50 million of venture capital funding to the state’s rural and agricultural communities if signed by Gov. Owens. The program was adopted by the state legislature (HB 1097) last week.

Introduced by House Speaker Doug Dean, (R – Colorado Springs) and joined by Senate President Stan Matsunaka (D-Loveland), Sen. Ron Teck (R-Grand Junction), Sen. Doug Linkhart (D-Denver) and Rep. Nolbert Chavez (D-Denver), the CAPCO program provides $200 million in venture capital funding over 10 years for Colorado small businesses. As a component of the program, $50 million is specifically allocated for rural counties with low populations.

“The rural areas of our state are looking for ways to jump-start activity,” said Sen. Teck. “The CAPCO program has a proven track record and will be a great help to the areas of our state still pursuing economic strength and diversity.”

House Speaker Dean, a co-sponsor of the CAPCO legislation, anticipates the program will produce positive results because it offers small businesses various financing options and provides the management support needed at their most critical junctures.

“Colorado small business owners are the backbone of our economy,” he said. “They consistently create a majority of the jobs and opportunities available in this state. We are positioned to become a focal point for entrepreneurial activity and the CAPCO program will provide the critical resource of capital necessary for high growth companies.”

The CAPCO program has already proven successful in five states (New York, Florida, Missouri, Louisiana and Wisconsin). Three of these states have since added money to the program after its initial success.

The Colorado Farm Bureau, Colorado Association of Commerce and Industry, Colorado Counties and Club 20 are several of the groups in support of the legislation.

“The CAPCO program is a critical piece of legislation that will help create jobs and drive entrepreneurship in rural parts of Colorado,” said Steve Jenkins, president of the Montrose Economic Development Council. “Given the success that this program has had in other states, we are confident that its implementation could significantly benefit individuals and businesses throughout Colorado, especially in traditionally rural areas. For true economic development to occur, we must have a consistent state policy that is dedicated to targeting resources for the support of entrepreneurship in these areas.”

The CAPCO program (HB 1097) has passed the Colorado House and Senate and now awaits the Governor’s signature.

The Growth Capital Alliance (GCA) is a conduit of information for small businesses. The GCA ( was formed to specifically help small businesses address the issues of capital formation and the multitude of governmental regulations that may affect their ability to raise this capital. It works with various legislative, executive and regulatory branches of government to provide accurate and up-to-date information about the issues effecting small businesses. GCA has more than 1,000 entrepreneur members across the country.

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