Recover Colorado Business Grants

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


 

Resources

 

Contact


Mark Skinner, Grant Manager, CDBG-DR
Office of Economic Development and International Trade
1625 Broadway, Suite 2700
Denver, CO 80202
mark.skinner@state.co.us
(303) 892-8768