HB12-1154: Regional Approach to Economic Development

• The Colorado Office of Economic Development must create new or expand existing regional economic development partnerships in each of the 14 state planning and management regions.

• Regional partnerships must include representatives from businesses, workforce development entities, educational institutions, nonprofits, local governments, and state/tribal/federal agencies.

• Regional economic development partnership boards (8-12 members) develop 3-year regional economic development plans, implement them, and submit annual progress reports to the state council.

• A new State Regional Economic Development Council consisting of one representative from each partnership board and the regional development director meets at least annually to compile progress reports and submit them to the governor.

• The bill takes effect August 8, 2012, subject to referendum petition; partnerships must begin quarterly meetings by September 1, 2012, and partnership boards must meet monthly starting that date.