Denver and Jobs Benefit from Loan Programs

Two new loan programs are focusing on Denver and jobs.

State officials recently launched two new business loan programs that will help more than 160 local businesses implement energy initiatives. Specifically, the $14 million worth of loans will help finance energy-efficiency improvements in commercial buildings and renewable energy businesses.

"These new loan programs answer a significant need expressed by Colorado businesses of all sizes – access to capital," Gov. Bill Ritter said. "We are helping Colorado companies sustain operations during the economic downturn, improve energy efficiency and thrive in the New Energy Economy. Most importantly, these loans will help businesses create jobs."

The first loan program, dubbed the Green Colorado Credit Reserve, is an extension of the Colorado Credit Reserve Program. It will allow businesses to finance up to $100,000 in energy efficiency retrofits in their offices or manufacturing facilities.

The CCR, which was revived last year, has helped 171 businesses and leveraged almost $6 million in private-sector lending. The Green CCR is expected to help more than 160 businesses and generate $7 million in lending.

The Green CCR, which will be administered by the Colorado Housing and Finance Authority and funded by a $1 million American Recovery and Reinvestment Act grant from the U.S. Department of Energy, will ultimately create more small stores jobs (Click here).

The second loan program being funded is the Governor's Energy Office Revolving Loan Program, which is aimed at financing energy efficiency and renewable energy projects throughout the state. The program is being funded by a $13 million ARRA grant and will be administered by the CHFA and the GEO.

Austin Tech Jobs Created by SunPower

One company is planning to use millions of dollars in state funding to create hundreds of Austin tech jobs and other positions.

State officials recently announced that the Texas Enterprise Fund will invest $2.5 million in SunPower Corporation so the company can open a new operations center in Austin. The project will create 450 new jobs and generate about $10 million for the local economy.

"This TEF investment in SunPower will create hundreds of jobs and pump millions of dollars in capital investment into the Central Texas economy," Gov. Rick Perry said. "The Texas Enterprise Fund, along with our state's low taxes, reasonable and predictable regulatory climate and skilled workforce, continues to attract companies like SunPower that are looking for an environment where they can grow and create quality jobs."

SunPower Corporation designs, manufactures, and delivers solar technology throughout the world for residential, commercial, and utility power plant customers. The new operations center will house the company's marketing, legal, finance, and accounting departments.

"We applaud Gov. Perry, Mayor (Lee) Leffingwell and state and city officials who are aggressively working to offer SunPower economic incentives to expand our operations to Austin and create hundreds of jobs," SunPower CEO Tom Werner said. "Texas has great potential to become a significant solar market. If policies creating a stable solar market across Texas are enacted, this commitment by SunPower could be the start of significantly more investment and job creation in the state by the rapidly growing solar industry."

SunPower Corporation currently has operations in North America, Europe, and Asia.