Colo. governor: Job-creation effort is paying off

Gov. Bill Ritter says now is the time for Colorado to invest in job creation if the state is going to be ready when the economy rebounds.

Colorado has already put millions of dollars into recruiting employers, and it's paying off, Ritter said Wednesday.

"Part of what we're concerned about is there's a confidence crisis. We want to be ready for the turnaround and we don't want the turnaround to be delayed because we didn't have confidence in the turnaround," Ritter said.

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Ritter and his economic development director, Don Elliman, touted the state's job-creation programs as lawmakers are looking at cutting $6 million from the effort next year, among other measures to balance the budget.

Elliman said the state spent about $4 million on incentives to bring the wind turbine manufacturer Vestas Wind Systems to Colorado, but he said it paid off with hundreds of new jobs.

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Elliman said Colorado offers fewer economic incentives than other states and needs to remain competitive.

Ritter has attended formal announcements and groundbreaking ceremonies over the past three days that he said will eventually produce 1,650 new jobs in Colorado.

They include Ascent Solar's new headquarters in Thornton, the Water Co.'s expansion plans in Pueblo and Vestas' groundbreaking on two plants in Brighton, northeast of Denver.