Resources, programs part of approach to incentives in Loveland

Increasingly, the region is reporting financial incentives being approved for companies to remain, expand and/or move into the area.  Certainly these play an important role in economic development by injecting capital investment and new jobs into the local communities. Loveland has engaged in financial assistance packages over the years to support business growth but also has developed, in parallel, a variety of business resources and services to supplement and complement financial investments.

We believe these are incredibly important because every business has different needs, and that through our broad menu of services, in Loveland and through regional partnerships, companies can find the resources they need to be successful. 

Because of the entrepreneurial momentum in the region and our location among major research-and-development universities and federal labs, we are seeing a tremendous increase in the need for services for our innovative sector. The Loveland Creator space provides pre-incubation services through shared workspace, access to equipment and classes. It’s a great place to vet ideas, work on prototypes and network with other entrepreneurs and investors. The city sponsors the Made in Loveland entrepreneurial meetup group and Start Up Day event as well as the Artists Collective, a networking group for artists and creatives.

SPONSORED CONTENT

Prioritizing mental health in hospice care

Prioritizing mental health support alongside physical comfort, Pathways hospice care aims to enhance the quality of life for patients and their families during one of life's most challenging transitions.

Innosphere in Fort Collins provides a wealth of offerings to assist startup ventures through incubation. The city of Loveland has a great relationship with Innosphere, and Loveland companies and individuals can access its services as well as participate in Innosphere programming held in Loveland. It has graduated and assisted dozens of companies over the years. In response, the Warehouse, a nonprofit business accelerator, has come on line in the past couple of years. It operates out of Loveland and addresses the needs of second-stage companies, those who have gone through incubation and now need help growing, scaling and becoming sustainable. It’s not only important to start these companies, it’s important to support their growth and to keep their investment and jobs in the region.

The city also will be welcoming EWI Colorado to Loveland at the Rocky Mountain Center for Innovation and Technology later this year. EWI is a nonprofit organization focused on innovative advanced manufacturing technologies and will act as a resource to high-tech companies through its membership programs and contract work. This is an incredible asset to the community and the state and will do as much to retain business as it will to attract new companies and expand local supply-chain networks.

We continue to support small businesses through the Larimer County Small Business Development Center and its new partner, The Warehouse. Together they will assume the role of the Loveland Center for Business Development. The Loveland Library has a wealth of business services and a specialist devoted to one-on-on consulting and research around business development. It also is home to a 3-D printer where anyone in the community can explore this amazing technology. We connect companies with PTAC, a federally funded organization that works with companies to procure government contracts, and we have recently established a small-business loan fund that will be administered through the Colorado Enterprise Fund.

An area of assistance that is not often mentioned in the incentive conversation but can be tremendously impactful is our outstanding utility capacity and programs through our Water and Power Department. Loveland, Fort Collins, Longmont and Estes Park own their own utility company, Platte River Power Authority. This allows for excellent reliability, environmental responsibility and competitive pricing.  Loveland bills, consistently, at some of the lowest utility rates in the state.  The Water and Power staff also provide outage management, project management, and water conservation project assistance; and, our Efficiency Works program helps companies identify and implement cost-effective efficiency upgrades for new or existing buildings.

We have worked hard as a region to collaborate on economic-development efforts and business assistance, as we know that our workforce/companies are interconnected and that by supporting a local business you are in turn supporting their staff who may live somewhere else in the region.  I believe the partnerships that have been formed around business development are a last critical piece to the mix as we work to make the area a fertile environment in which our companies can thrive.

Marcie Erion is a business-development specialist for the city of Loveland. For more information about the property or the EWI project, contact her at marcie.erion@cityofloveland.org.