HomeMy WebLinkAbout09/18/2024 - Economic Advisory Board - AGENDA - Regular Meeting
Economic Advisory Board
REGULAR MEETING
September 18, 2024, 4:00 p.m. - 6:00 p.m.
HYBRID MEETING OPTIONS
Physical Loca on: 300 Laporte Ave CIC Room.
Virtual option via Zoom: https://us02web.zoom.us/j/84688470753
1. CALL TO ORDER
2. ROLL CALL
3. AGENDA REVIEW
4. CITIZEN PARTICIPATION
5. APPROVAL OF MINUTES
6. NEW BUSINESS
a. Review of Boards and Commissions: Roles, Responsibilities, Memo
guidance, etc.
i. Davina Lau, Specialist, Public Engagement- Clerks Office
ii. Discussion and Q&A – 45 minutes
BREAK FOR DINNER
b. NSF CO-WY Engins
i. Mike Freeman, CEO & General Partner – Innosphere Ventures
ii. Presentation and Q&A Discussions – 45 minutes
7. UNFINISHED BUSINESS
8. BOARD MEMBER REPORTS
9. OTHER BUSINESS
10. ADJOURNMENT
09/18/2024 – AGENDA
Page 1
06/26/24 Minutes
Economic Advisory Board
REGULAR MEETING
Wednesday, August 21, 2024 – 4:00 PM
300 Laporte Ave, CIC Room
1. CALL TO ORDER: 4:00 PM
2. ROLL CALL
a. Board Members Present –
• Tim Cochran
• Denny Coleman
• Chris Denton
• Thierry Dossou
• Erin Gray
• Val Kailburn
• Braulio Rojas
• Richard Waal
• Renee Walkup
b. Board Members Absent –
c. Staff Members Present –
• Ashley Kailburn, Sr Specialist, Economic Health Office
• Erin Sporer, Business Support, Economic Health Office
• Clay Frickey, Sr Manager, City Planning
d. Guest(s) –
3. AGENDA REVIEW
4. PUBLIC PARTICIPATION
5. APPROVAL OF MINUTES
a. Val motioned and Renee seconds to approve the June and July Minutes.
Motion carried Unanimous. 8-0
6. NEW BUSINESS
a. Land Use Code (LUC) Phase II
• Council adopted Phase I that focused on residential parts of the
community in May.
• Phase II focuses on commercial corridors.
• Team and internal partnerships include Clay Frickey, Sylvia Tatman-
Burruss, Megan Keith, Noah Beals, Planning and Zoning, FCMoves and
Transfort, Economic Health Office, Forestry, and Utilities.
• Phase I included an audit of the LUC that highlighted gaps and barriers to
Page 2
06/26/24 Minutes
achieving our goals in the LUC. In phase one as part of that diagnostic the
consultant looked at commercial corridors and highlighted the key issues.
• Commercial zone districts that do the same thing
• Standards around primary and secondary uses
• Models of employment have changed
• Will try to align with City codes, plans and Council priorities
• We want to make sure we don’t over process things.
• Improvements overtime to businesses as there is change.
• Does it make sense or work?
• What type of improvements?
• More clarity is needed in code and more resources are
needed.
• Questions to explore through Phase II
• Are there opportunities to add clarity to the development review
process?
• How can the LUC be more aligned with our policy plans?
• How can we advance our 15-minute city goals through LUC?
• How do we balance multiple desired outcomes through our
development standards?
• Potential work streams (see slide)
• Commercial and Mixed-Use Corridors
• Creating commercial and industrial building types
• Recalibrating employment & industrial zoning
• Standards for specific uses
• Small business considerations
• 15-Minute Cities
• Neighborhood centers
• Transit-supportive development
• Development Standards
• Landscaping & trees
• Site planning & design
• Natural resource standards
• Bike, pedestrian & trail connectivity
• Processes and Procedures
• Amendment process (micro/minor/major)
• Basic development review process
• Other development review processes (type 1 and type 2
reviews)
• Customer tools & resources
• State legislation
• 3 pieces to get compliant with
• Housing in transit-oriented communities (HB-1313)
• Accessory dwelling units (HB-1152)
• Minimum parking requirements (HB-1304)
• Community engagement
• Doing community kick off events in October
• Want to go to a commercial center in each Council district.
• Ask questions: what do like, what do you want to see, did
you have problems getting here, would you bike or use
transit, etc.
• Opportunity to see how community responds and what
they want to see in corridors.
Page 3
06/26/24 Minutes
• After that they will go back to City Council for work session after
• Talk about timing and priorities
• Originally wanted it before election next year but gives
them less than 6 months to get the work done.
• Want to do a good job on priorities vs rush the whole
thing.
• Types of engagement
• Newsletters, events, videos, work sessions, review and
comment on draft code, focus groups, etc.
• Work session is November 12th.
Questions
• One of the Council priorities includes improving efficiency and
streamlining at City level for approval of projects. I don’t see it as a priority
listed in your slide.
• One of our work streams is going to be focused on the development
review process and making it more efficient. We will get to it in a
couple slides but that’s going to be its own dedicated work streams.
A lot of the things we will want to talk about is change of use, if you
want to go from a salon to a restaurant. A lot of people don’t realize
you go through a process to do that. An example we got recently is
a school was operating in a commercial center and never got
approval to do that and it caused the City to deny a liquor license for
another business in that commercial center. Situations like that are
going to happen when you don’t catch stuff like that. It is a big
priority for us. We want to make sure those processes are as
painless as possible. We realize it is a big barrier to business.
• If the state says we can have accessory dwelling units (ADUs) does that
mean Fort Collins has to fall in line or is there some agency with Fort
Collins on where and when?
• There is some agency on how they look. There are some things that
are pretty clear in the state statute like they mandate the level of
parking. They mandate the size. They also say if you allow single
family homes in that district, you have to allow native use. A lot of
that stuff is taken care of. We also have some areas, Old Town
being a good example where we have specific design standards for
buildings in that area that we’d apply to ADUs. We might want to do
some more massaging of that for ADUs in certain parts of town.
What some communities have done is work with different
neighborhoods or preapproved designs for ADUs to try and point
people in the right direction. A lot of people are building ADUs
because they have kids that are moving back home or have aging
parents. Some are just trying to afford to live here and having that
additional rental income can help. Having plans that you can pull off
the shelf that are preapproved can cut down significantly on design
costs. We have talked about that. I don’t know if that’s going to gain
any momentum, but we want to explore concepts like that. We want
to listen to the community with what they want as well as try and
address it to the extent that we can, knowing it was such a hot
button topic the 1st go around.
• Did you say parking was mandated by the state?
• At one point they said, you cannot require parking, and I
thought at the last minute we changed that. I have to
Page 4
06/26/24 Minutes
double check though. Parking is addressed clearly. The
minimum parking requirement bill is for areas close to
high frequent transit. By May of 2025 we can’t have
parking minimums anymore in those areas. I think we
can still do streety parking for 2 hours in certain spots but
for new development we can’t say you need one space
per 1,000 square feet. The theory there is that parking
adds to cost development, especially for housing. They
trying to say let the market dictate the right amount of
parking for those things. Finance agencies dictate
marking too, a lot of vendors won’t lend to you unless you
have a certain amount of parking for your project. It is
really letting that drive parking rather than municipalities.
Fort Collins has pretty low parking standards and
oftentimes our requirements are much lower than what
lending agencies want. It’s not really targeted at us. The
last one is a housing and transit-oriented communities. I
am not going to spend a lot of time on it though because
it is still a little wonky. But essentially you have to
accommodate a certain amount of housing. So zoned
capacity within our LUC in proximity to transit. That one
has a longer fuse and it’s not going to directly relate to
the production of housing but more making sure that
we’re not preventing housing from getting close to transit.
• Thinking about community feedback, there seems to be a format that is
done with sticky notes. I am wondering if that format is effective or it’s a
habit and there also doesn’t seem to be a feedback loop.
• I suspect the sticky note thing is mainly a habit and what people
know and can do themselves with out having to go to a consultant.
When we go out to these commercial centers its not going to be an
exercise. I think it is going to be more of a dialogue. Hopefully we
can just walk around the commercial center and talk about specific
issues. In term of the feedback loop, we try to collect the feedback
and summarize it. We normally post it someplace publicly like a
website and send it out to emails. What we did for phase I and other
city plans is document, here is this change, on page 15 we changed
this word etc. We try to make it as transparent as possible so people
can see their words in the end product. No everyone needs that, but
we try to highlight the feedback as much as possible. As we do
subsequent engagement, we will also tell the story of how we got
there and share what feedback we have had.
• So those have been sent out via email?
• Yeah email, we post them on the City website.
• I have never gotten an email. So that is interesting. I know the
information is is effective but just the format of gathering
information. That is my concern for something that is
important that affects everyone.
• I can assure you we are not using sticky notes. We want to
do events that will be more engaging.
• Will you share with us when the community kick off event will happen and
then I think we should plan to see you after the November 12th work
session.
Page 5
06/26/24 Minutes
• Is it part of the plan to put together where you are actually doing it? Do
you have all the commercial centers outlined yet?
• It is part of the plan. We were brainstorming that earlier today. We
are trying to have at least one in every Council district but also trying
to get centers that have different zoning and were built at different
times so we can look at the full spectrum of commercial centers.
Some of the ones we were tossing around were Drake and Shields.
• What constitutes a center?
• It is a little nebulous in fairness. We have had that
conversation too. The City Plan highlights a lot of major
intersections and the centers at those major intersections as
being activity centers. I think for a lot of people if there’s a
corner store and a couple commercial budlings close to their
neighborhood, they could probably call that a center as well. I
don’t think the definition is clear. So that is why we are trying
to capture range so we can see what the trends there might
be. We might need more specific guidance on these different
centers because they all operate a little differently. It is not a
one size fits all.
• You said in phase I they addressed something about it. What did they use
for their definition?
• Phase I didn’t touch commercial centers much. It was more about
the building types. We essentially moved to a way of assessing
designed based on the way the building looks. We need to develop
those prototypes for commercial.
• You probably already have this but some type of KPI for some indexes
that allow you to say this is what you want to accomplish and help us in
the future see with all this LUC change, we will reach out goal.
• I don’t think we have clear metrics on corridor success. One thing
we are working on is called place-based assessment as part of the
15-minute city priority. We are going to do an analysis of which
commercial centers are performing well and assess the potential.
From that we can develop some metrics to help us with success.
• Just something generally because many of those things are
subjective. Try to bring some objectivity to the process.
• That is a good point and try and tie it to the policy goals you are
trying to reach like something around affordability for the 15-minute
cities.
• For some of those like 15-minute city, we have some metrics there
and same thing for affordability. We have a lot less in terms of how
well it is performing.
• Have you ever taken a poll of some of the other larger businesses so they
can see this process on what they like or don’t like about it? When you
start looking at some of the bigger businesses, they probably have
branches that are not here, some may have chosen to be here and then
expand into other places the reason for that could have nothing to do with
the city but there are other cases where people are making decisions
because maybe we don’t have the right labor force.
• On the land use side, we did a development review survey that went
to all applicants in the past five years and asked some of those
questions. We have a lot of feedback and things they would like to
see improved upon as part of the process and LUC. Most of it was
Page 6
06/26/24 Minutes
related to the process. We do have a work stream dedicated to that
as part of this process. WE also have an advisory board that is
consultants helping those big businesses go through the
development review process. We are trying to tackle that from a
couple different angles.
• There are a lot of barriers people are not aware of unless they are in
it. That is what we hear most is you don’t know what you don’t know.
We want to connect people at the right time in that space; not so
much larger employers because they have consultants that do this
but midsize to small businesses that don’t know about change of
use. They are one that get hit the most because they don’t have as
many resources to go through the process, but it could be a good
idea.
• The board is interested in having Clay return after the work session as
well as getting information about the community kick off events.
7. UNFINISHED BUSINESS
a. Building Performance Standards (BPS) Memo Discussion
• Last meeting they agreed on BPS is important and positive for the
environment, it may be expensive for business to fulfill at this point, and it
should be recommended versus mandatory for businesses.
• The board discussed various changes to the draft memo:
• Take out direct wording about recommending to not adopt it and
change it to recommend Council consider tradeoffs that have not
been sufficiently explored.
• Add a consideration for return of investment (ROI) as the current
ROI does not consider other benefits and factors that can directly
improve the ROI for building owners and businesses such as access
to state and federal financial resources.
• Add consideration for co-benefits of BPS that cannot be easily
monetized such as improved indoor air quality.
• Add a consideration for transaction costs of building owners and
businesses as they will struggle to find time to navigate the technical
and financial resources. The technical complexity of BPS should be
matched with technical support and resources.
• Add a suggestion that the City encourages incentives to business
owners for retention rather than imposing fines for noncompliance.
• Add a paragraph regarding the ongoing lawsuits in Denver. They
also added an addendum with an article about the lawsuits.
• Add a suggestion to do a cost feasibly on City buildings first and
then CSU.
• Minor wordsmithing
• The board discussed how a navigator would be a huge asset to help
businesses though the process and possibly having the City do a cost
feasibility on City buildings first.
• Chris motioned and Erin seconded to approve the memo as amended.
Motion approved unanimously 9-0.
b. Water Supply Requirements (WSR), Excess Water Use (EWU) Surcharge,
and Allotments for All Commercial Customers Memo Discussion
• Erin is working on a draft. The draft will hopefully be ready for the next
meeting.
8. BOARD MEMBER REPORTS
Page 7
06/26/24 Minutes
a. Denny met with Kat from the Economic Health Office for an update on the
AEDO process. They should find out soon regarding if they got the
certification. It sounds like it went very well but they would be awarded with it a
the IEDC annual conference in Denver this September. It is a rigorous
process. Congratulations to the staff.
• Braulio participated in the process. There were a lot of positives on his
side. He shared about EAB and how supportive and diverse they are. The
mayor also participated.
9. STAFF REPORTS
a. Interested in having Davina come to the board to discuss process of memos
and make sure we are not violating Colorado Open Records Act.
• Board had a lot of concern about memo writing and efficiency if they
cannot discuss over email or in Google Docs.
b. Tyler Menzales was hired in the Economic Health Office (EHO). He will
eventually take over as the EAB staff liaison
c. Staff also gave a brief update on Budgeting for Outcomes and the two
enhancement offers EHO has helped with including the offer for the
Multicultural Business and Entrepreneur Center and a Navigator position to
help business navigate planning and development processes. There will be a
work session with Council on September 10th. The City Manager’s
recommended budget will be posted by the end of August. SeonAh the
director of EHO can come and speak more to it if the board is interested.
10. OTHER BUSINESS
a. The board asked for an IEDC accreditation update
• Application has gone in, and one reviewer has finished. We should hear
11. ADJOURNMENT
a. (6:06PM)
Minutes approved by a vote of the Board/Commission on XX/XX/XX
T E C H . S C I E N C E .
A C C E L E R A T E D .
Innosphereventures.org | Fort Collins | (970) 221 -1301
Powered by
ECOSYSTEMOUR
INNOSPHERE
Powered
by:
Ventures Real
EstateLife Sciences
33
Innosphere supports entrepreneurs in bioscience;
medical device; energy; advanced materials; hardware;
enterprise software, fintech; artificial intelligence and
climate resilient technologies.
Focus Areas: Climate Technology, Smart Cities, Life
Sciences, B2B SaaS and Climate Resilient Technology
leading technology incubator
with a long-standing history of
success"
TECH. SCIENCE.
ACCELERATED.
Commercialization
Program
Leading technology incubator
with a long-standing history of
success
Venture
Capital
Specialized
Facilities
Investing in science & tech
startups during the Seed & Series
A rounds
Offering startup office and wet
lab space in Northern Colorado
Innosphere
Services for Client Companies
•Cohort Workshops & Training
•Competitive Research
•Access to Capital Opportunities
•Concierge Client Management
•PR/Communications
•Corporate & Merger acquisition strategy
•Expert Advisors and Mentors
4Innosphere
2023
Snapshot
5Innosphere
49 50
Total Companies Patents Filed
$20 M $15 M
Capital Raised Revenue Generated
204 66 $94K
Part timeClient Company FTE Average Full -Time Salary
27Total Innosphere Fund Investments 182 Fort CollinsOffice & Lab FTE
MISSION: Our mission is to fast -track the commercialization of novel
life science products, fostering regional collaboration, sparking
breakthrough innovations that will redefine healthcare, and driving
long-term life sciences leadership sustainability.
6Innosphere
Life Sciences Incubator Partnership
Colorado
Nebraska
Utah
New
Mexico Texas
South
Carolina
Outcomes
Targeted
8Innosphere
Economic Growth:
1). Job Creation: Generate at
least 500 full-time and part -
time job opportunities
2). Funding: Collectively raise a
minimum of $45M
Advancement in Life Sciences:
1). Intellectual Property:
Facilitate the filing of at least
125 patents
2). Strategic Partnerships: At
least 60% of our startups
secure a strategic partner
Diversity and Inclusion:
1). At least 50% of the teams
have leadership that is DEIA
relevant
2). At least 30% of the
technology accrues benefits to
disadvantaged communities
INNOSPHERE VENTURES | LIFE SCIENCES INCUBATOR
COMMERCIALIZATION PROGRAM
FOUNDATION
(months 1-3)
ACCELERATION
(months 4-6)
MOMENTUM & EXPOSURE
(months 7-9)
•Business Plan Optimization
•Customer Acquisition
•Intellectual Property Strategy
•Regulatory Strategy
•Clinical Strategy
•Development Roadmap
•Access to Capital
•Pitch Deck Strategy
•Building an Investor Pipeline
•Finance Essentials
•OKRs (Objectives Key Results)
•Reimbursement Bootcamp
•Life Science Investor Climate
•Becoming a Fundable CEO
•Foundations of Leadership (CBI)
•Planning for Exit
•Data Room Readiness
•Positioning for Value/Utility
•Healthcare Complexity
•Relationship Action Plan
Expert Client Director Mentorship
Peer Mastermind Sessions
Pioneer Council
Live Pitch Practices
Powerhouse Network Support
Regional Investor Event
Scientific Advisory Board
Graduation Showcase
INCUBATOR
CURRICULUM
CUSTOMIZED
SUPPORT
PRACTICE/SKILLS
RELATIONSHIPS
Developing innovative and reliable
solutions to climate challenges by
leveraging environmental monitoring
and data science for resilient
communities
Mike Freeman, CEO
CO-WY Engine, fueled by Innosphere Ventures
CO-WY Engine
CO-WY Engine
Vision:
Region: The Colorado-Wyoming
Engine (CO-WY Engine)
Goal…will power pathways toward
climate resiliency innovation
Technology…by translating environmental
monitoring technologies & predictive analytics
Outcome…into trustworthy decision
support systems
Impact…to mitigate climate change’s
environmental and economic threats.
11
CO-WY
Region of Service
●Combined population: 6,380,000
●Combined square miles: 200,735
●CO rural population: 12.5%
●WY rural population: 90%
●48 tribes that have ties to the lands of
Colorado and Wyoming
●Forefront of climate resiliency
●Culture of collaboration
●Unparalleled expertise and dynamic
partnerships
●Led by an established ecosystem builder
12
Denver
Casper
Cheyenne
Colorado Springs
12
CO-WY
Region of Service
Urban areas / cities
Tribal Lands
Community Colleges
Satellite Offices
Universities &
Academic Institutions
Research Centers
Denver
Casper
Cheyenne
Colorado Springs
Extension Offices
Federal Labs /
Federally Funded
Economic Development
Policy
Corporations
Core Partners
13
NSF Innovation Ecosystem Life Cycle
Years 6-10
NSF $20M/Year
Cost Share $60M/Year
Year 1-2
NSF $7.5M/Year
Cost Share
$7.5M/Year
Years 3-5
NSF $15M/Year
Cost Share
$30M/Year
Phase 2:
NASCENT
Organization and
partnerships are
solidified and
innovation activities
ramp up.
Phase 3:
EMERGENT
Phase 4:
GROWTH
Technological
products and services
and workforce
capabilities are scaled,
and the innovation
ecosystem starts to
attract sizeable
external funding
towards promoting
innovation-based
economic activity.
Innovation ecosystem
grows as a national
leader — attracting
increasing levels of
economic activity and
business creation —
with underlying
support from state,
local and federal
governments.
Phase 5:
MATURE
Innovation ecosystem
is well established and
can sustain itself
without NSF funding.
14
CO-WY Engine Partners
Universities & Academic
Institutions
•Research Universities: Colorado School of Mines, Colorado State University, University of
Colorado Boulder, University of Denver, EPSCor: University of Wyoming (UW), WU’s High
Plains American Indian Research Institute;
•Universities: University of Northern Colorado;
•Workforce Drivers and Minority Serving Institutions: Metropolitan State University of Denver,
Colorado Community College System, Wyoming Community College Commission.
Corporates Lockheed, NVIDIA, Deloitte, Palantir Technologies, Mars, Shell, Chevron, Trimble, Microsoft.
Federal Labs/Federally
Funded
National Oceanic and Atmospheric Administration (NOAA), National Center for Atmospheric
Research (NCAR), National Renewable Energy Laboratory (NREL), US Dept. of Agriculture’s
Agricultural Research Service (ARS), National Institute of Standards and Technology (NIST),
NSF’s National Ecological Observatory Network (NEON), CO-LABS, Inc.
Translation Innosphere Ventures, Rockies Venture Club, CSU STRATA, CU Venture Partners; Mines Tech
Transfer, UWY Tech Transfer
Economic Development Metro Denver Economic Development Corporation, Colorado Office of Economic
Development and International Trade, Wyoming Business Council.
Local Government/Policy
Local Governments for Sustainability (ICLEI), Colorado Cleantech Industries Association (CCIA),
Denver Chamber of Commerce, Dever Water, City of Denver, City of Fort Collins, City of
Boulder, City of Cheyenne, City of Larimie, Metro Mayors Caucus.
15
Use-inspired R&D
Programmatic Focus Areas
Technology Roadmap
•Stakeholder needs, gaps assessment, and asset mapping
•Engagement of research partners, corporations
•Strategic alignment to environmental markets
UI R&D Grant Program
•Competitive grant selection process
•Awards with 1:1 matching leveraging NSF funding
•Diverse teams are backed and supported
Co-Production Framework
•Connections with users and stakeholders across the CO-WY Engine
•Formation of cross-sector partnerships within the CO-WY Engine
•Recruiting new climate tech researchers and companies
16
Soil Carbon
Capture
Data &
Analytics
Methane
Emissions
Analysis
Extreme
Weather
Modeling
Complex
Earth
Sensing
Water
Availability
Prediction
Wildfire
Risk &
Prediction
Translating
Climate
Monitoring &
Measurement
Translation to Practice
Programmatic Focus Areas
Integrated Translation Approach
●I-Corps engagement with Engine teams
●Thematic incubator program & cohort recruiting
●Corporate partner mentoring, co-production, early input
●CO-WY venture capital fund
Translate Grant Program
●Competitive grant selection process
●Awards with 1:2 matching
●Entrepreneurs in Residence and Entrepreneurial Fellows
Knowledge Deployment & Technology Adoption
●Field testing & at-scale demonstration, National Labs, industry, communities
●Policy analysis, climate policy framework customized for CO-WY region
●Thought leader events to grow the ecosystem, highlight local wins
●Public engagement (Extension, Tribal and Rural Communities)
17
Soil Carbon
Capture
Data &
Analytics
Methane
Emissions
Analysis
Extreme
Weather
Modeling
Complex
Earth
Sensing
Water
Availability
Prediction
Wildfire
Risk &
Prediction
Translating
Climate
Monitoring &
Measurement
Workforce Development
Programmatic Focus Areas
Workforce Framework
●Public engagement (Extension, Tribal & Rural Communities)
●Stakeholder needs, gaps assessment, and asset mapping
●Evaluation and strategic alignment
Work-Based Learning & Career Development
●Internships, apprenticeships
●Post-doc program & Systems engineering program
●Joint appointments
●Carbon finance bootcamp, Certificate programs
Talent Matching
●Talent CO-WY, Opportunity Now (CO)
●Climate tech Career Pathway Expansion
●Climate tech/Cluster data, cluster strategy
●Talent Pipeline Management from secondary to the workforce
18
Soil Carbon
Capture
Data &
Analytics
Methane
Emissions
Analysis
Extreme
Weather
Modeling
Complex
Earth
Sensing
Water
Availability
Prediction
Wildfire
Risk &
Prediction
Translating
Climate
Monitoring &
Measurement
Environmental Markets
Resilient, Thriving Communities
and Environments
●Informed Decision Making
●Economic Opportunities
●Safety and Health
●Sustainability
Climate Change Forecasting
●Wildfires, water security,
agricultural health
Environmental
Management Markets
●Carbon credits, digital monitoring,
reporting and verification
products, community action plans
Environmental
Monitoring Technologies
●Sensors, remote sensing,
data science
1 2
4
3
$10B+2030
Voluntary Carbon Market Size
Remote Sensing Services Market Size
$26.6B 2027
Climate Risk Digital Solutions Market Size
$4B 2027
19
2020
CO-WY Engine Economic Impact
Three interrelated strategies:
1.Grow R&D activities
2.Achieve organic translation growth
3.Recruit startups and established
companies
Quantified 1&2 = 3,600 FTE
212121
Between the Virtual Site Visit and today:
•Studied the 12-county core/rural/Tribal regions further
•Refined the startup to growth economic projection
•Calculated regional recruitment
•Calculated the GDP impact from organic growth
•Further evaluated our national competitive position
CO-WY Engine Economic Impact
22
Denver
Significant Opportunity to Improve Economic Disparities
23
Economic Impact Updated*
10 Year Employment Forecast
Employment
Growth
22K
Growth
Rate
300%
Employment
Total
30K
*Chief Economist, Metro Denver Economic Development Corporation
24
Employment
Growth
22K
Organic
Growth
5K
Recruitment
Growth
17K
*Chief Economist, Metro Denver Economic Development Corporation
Economic Impact Updated*
10 Year Employment Forecast
25
Regional GDP Value Add
*IMPLAN Chief Economist, Metro Denver Economic Development Corporation
10 Year Impact $1.5B
Organic Growth
26
Assessed Competitive Position
CO-WY Poised to Advance with NSF
CO-WY Engine Region
Total Undergrad: 104,922
Total Grad: 25,096
Total Stem Enrolment: 19,657
5k+ total employment at Federal Labs
Higher Education R&D (FY 21) : $1.7B+
VC Total (FY 22): $6.63B
Total university Spinouts: 33
Georgia Research Alliance Region
Total Undergrad: 98,145
Total Grad: 60,045
Total Stem Enrolment: 19,120
Higher Education R&D (FY 21) : 2.7B+
VC Total (FY 22): $2.54B
Total university Spinouts: 24
University Research Corridor Region
Total Undergrad: 88,555
Total Grad: 33,280
Total Stem Enrolment: 20,766
Higher Education R&D (FY 21) : $2.6B+
VC Total (FY 22): $1.21B
Total university Spinouts: 28
Research Triangle Region
Total Undergrad: 54,045
Total Grad: 33,089
Total Stem Enrolment: 13,916
Higher Education R&D (FY 21) : $3.3B+
VC Total (FY 22): $4.91B
Total university Spin outs: 45
R&D and Translational Grants
Student Trained Systems
Engineering
10 Year expected outcomes aim to generate significant economic impact:
The New Frontier in Reliable Climate Technologies
NSF ENGINES: COLORADO-WYOMING CLIMATE RESILIENCE
ENGINE
22K
New Jobs
$1.5B
GDP Boost
$1B
Capital Raised
210
Internships/
Apprenticeships
3,100
Certificates Earned
136
Post-Docs Placed
4001,300
Thank You
Mike Freeman
CO-WY Climate Resilience Engine
fueled by Innosphere Ventures and funded by t he National Science Foundation