Program Description
The Recover Colorado Business Grant program, managed by the Office of Economic Development and International Trade (OEDIT), assisted small businesses and non-profits following these unprecedented disasters. The intent of these funds were to enable businesses to maintain operations and retain employees for the continued economic health of these heavily impacted areas. Fifty percent of the funds were targeted to businesses that hire predominantly low and moderate income employees.
Businesses were eligible for a maximum grant of $50,000 per grant or $75,000 maximum if they had multiple impacted locations. Businesses impacted by multiple events or subsequent major road closures could receive additional grants.
Program Status
This program is complete. The final application period ended December 31, 2017 with the final payment made in November of 2019.
Program Outcomes
212 Businesses in the impacted area received a total of $8,446,753 in business grants to maintain their operations. These businesses retained 3340 full or part-time employees representing 2620 FTEs. The average benefit per business came to $39,843 with total awards ranging from just over $5000 to a maximum of $135,142.
Business Assistance By County
|
County |
# of Businesses |
Total Grants |
|
Boulder |
64 |
$ 2,222,047 |
|
Larimer |
88 |
$ 3,952,087 |
|
Weld |
5 |
$ 181,034 |
|
El Paso |
34 |
$ 1,537,005 |
|
All Others |
21 |
$ 554,581 |
|
Total |
212 |
$ 8,446,753 |
Business Assistance By Industry Code
|
Industry Classification |
# of Businesses |
Total Grants |
|
72 - Accommodations and Food Service |
60 |
$ 2,486,247 |
|
44-45 - Retail Trade |
50 |
$ 2,128,990 |
|
71 - Arts, Entertainment and Recreation |
19 |
$ 817,366 |
|
31-33 Manufacturing |
18 |
$ 778,475 |
|
62 - Health Care and Social Assistance |
11 |
$ 350,182 |
|
53 - Real Estate and Rental and Leasing |
10 |
$ 482,099 |
|
All Other |
44 |
$ 1,403,394 |
|
Total |
212 |
$ 8,446,753 |
