Final
Renewable Energy and Clean Technology
ECONOMIC DEVELOPMENT
Votes:
Action Taken:
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11:45 AM -- Economic Development Opportunities in Renewable Energy and Clean Technology, Dr. Thomas Dean, University of Colorado at Boulder and Mr. Jeff Nathanson, Colorado Clean Tech Initiative
Dr. Thomas Dean, University of Colorado at Boulder, discussed economic development opportunities in renewable energy and clean technology. He stated that society's transformation to the use of renewable energies and clean technologies will occur, it is just a matter of who will benefit. He indicated that Colorado has significant opportunity to benefit from renewable energy and clean technology. He stated that Colorado is leading in some areas, but is behind in others. Colorado needs to focus on developing a renewable energy and clean technology industry cluster. He discussed how industry clusters are developed. Colorado has the resources to develop a cluster. He discussed the clean technology and renewable energy start-up firms in the state. The clean technology sector is 7th most invested sector for venture capitalists and has a good rate of return. He discussed University of Colorado initiatives to help develop the renewable energy and clean technology industries. Information on the University of Colorado at Boulder's Deming Center for Entrepreneurship was distributed to the committee (Attachment L).
11:57 AM
Mr. Jeff Nathanson, Colorado Clean Tech Initiative, discussed how industry clusters develop and what clean technology industry cluster ingredients are present in Colorado. He indicated that the ingredients were there, but that Colorado needed to focus its attention and develop a vision to help the cluster develop. Other states that are ahead of Colorado in developing their clean technology industry, such as California, Oregon, Texas, New York, and New Jersey, have focused on developing an industry cluster. Colorado needs to have better integration of various industry stakeholders. It could also utilize the passage of Amendment 37, which mandated a certain percentage of renewable energy, and Fastracks to help develop the industry.
Mr. Nathanson continued by discussing the Colorado Clean Tech initiative and its mission of bringing together stakeholders, businesses, and investors to help develop the clean technology industry. The Initiative has a goal of developing a clean technology plan for the state and helping create 5,000 jobs in the industry by 2010. He explained that market forces will not develop the industry by themselves and that assistance from governments is required. Other states have initiatives that are successful in attracting clean technology businesses. Representative Borodkin discussed the need for increased marketing of the clean technology efforts occurring in Colorado. Mr. Nathanson commented on the need to promote the entrepreneurial activity occurring in the state. He stated that other industry clusters could benefit from a clean technology/renewable energy industry cluster.