Colorado's upcoming budget is sure to be lean, and even Gov. Bill Ritter's efforts to stimulate the state economy underscore how few options the state really has.
Ritter presented his budget request for the fiscal year that begins July 1 to the legislature's Joint Budget Committee on Thursday. He showcased a $12 million economic stimulus package that totaled a mere 0.15 percent of the $7.9 billion in proposed general fund
spending.
We commented on Ritter's overall budget last Sunday. In focusing today on the economic stimulus portion, we're happy to see $2.5 million targeted to "establishing New Energy Economy job-training programs that would be run by community colleges and private
businesses."
Such efforts focus on Colorado's strength in attracting new energy jobs, based on both its abundance of wind and sunshine as well
as the fertile minds of the National Renewable Energy Laboratory in Golden. As a current example, the governor cited Vestas working closely with the community college in Pueblo to train skilled workers for its advanced wind power manufacturing.
Ritter's second high-priority program — $2.5 million to "create an 'access to capital' initiative to enhance the availability of credit for small businesses" encountered more skepticism from the budget panel. Both Rep. Jack Pommer, D-Boulder, and Sen.-elect Al White, R-Winter Park, questioned whether so modest a sum would add anything to the $700 billion federal bailout designed to revitalize the
nation's credit markets.
For his part, Ritter noted that the proposal was still being drafted and promised much more detail before the legislature would actually be asked to authorize such funds. We share the skepticism voiced by White and Pommer but note that federal programs are often surrounded by a blizzard of paperwork. If the targeted $2.5 million can seed community college programs to help small businesses navigate that bureaucratic maze, it would be well spent.
Meanwhile, we're happy to see the job creation efforts. That includes a round of seven regional job fairs, an open house Thursday at
the state's 63 Colorado Workforce Centers and a Ritter-led trade mission that will depart for China and Japan Saturday.
Beyond such ongoing efforts, it's clear that any hopes for a major job-creation effort depend on Congress' willingness to finance an
expansion of transportation projects, water supplies, sewage treatment and other infrastructure needs, as we discussed in an Oct. 25
editorial. Ritter noted the state has identified a number of projects that already have passed environmental reviews and can go to bid if and when extra federal funds arrive. Given Colorado's tight revenue picture and constitutional requirement for a balanced budget, being poised to capitalize on any new federal grants is a wise move.
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