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Accelerate Colorado

2012 Successes

Locating a United States Patent and Trademark Office in Colorado
On July 2, 2012, the United States Department of Commerce announced that the Denver metro area would receive one of four new satellite USPTO offices.  The office will bring as many as 400 jobs and as much as $440 million in economic impact to the Denver area over five years.  The office will occupy 25,000 square feet of LEED Platinum certified space in the Byron G. Rogers building in downtown Denver.
 
ITAR Reform
The National Defense Authorization Act, passed on December 19, 2012, included an amendment to reform ITAR giving the Administration the ability to tailor export restrictions on certain satellites and components not deemed highly sensitive.  This reform will have a direct impact on aerospace and defense jobs and commerce, especially with looming cuts to national security and space program funding.
 
Reauthorization of the United States Export-Import Bank
While Accelerate Colorado was in D.C. in May, Congress passed the reauthorization of EX-IM, a critical financing agency for international trade.  The bill reauthorizes EX-IM for three years and increases its loan capacity by 40 percent.  Almost 90 companies in Colorado have worked with EX-IM since 2007.
 
Extension of the Intangible Drilling Costs tax credit
Congress passed an extension of the Intangible Drilling Costs tax deduction on January 1, 2013.  The inability to expense fuel, supplies, wages and repairs would limit producers’ potential for future investment. 
 
Extension of the Production Tax Credit for Wind Energy
As a part of the deal to avert the “fiscal cliff” on January 1, 2013 Congress passed a one year extension of the Production Tax Credit for wind energy.  A failure to extend the PTC would have resulted in a 65 percent decrease in wind energy investment and the loss of 37,000 jobs nationwide.
 
Spaceport Planning Grant
Front Range Airport received a $200,000 planning grant from the FAA, and is in the process of applying for spaceport designation.
 
Reauthorization of the Prescription Drug User Fee Act
Congress reauthorized PDUFA in May, making it possible for the Food and Drug Administration to continue their efforts to bring new drugs to the market faster.