Venture Capital & Hotel Development Funds Driven by Green Energy in Colorado

The impact of the credit crunch and the likely recession is slowing down capital flows, job creation, real estate development and many other positive economic development indicators in the Denver Region and around the U.S. However, among the gloom, I have noticed two related positive trends, recently reported in the Boulder Daily Camera which link back to the emerging green energy cluster in Metro Denver.

First, there appears to be a wave of hotel development forming which will hit the U.S. 36 Corridor in Broomfield sparked by the ConocoPhillips plans for the former Storage Tech site. Despite the fact that the hotel business is one of the most cyclical sectors of the real estate market which tracks very closely with the macro economy, there are as many as eight different hotel projects in various stages of planning in this area. These plans are clearly driven by the large number of business travelers who are expected to come to the Interlocken area as part of the ConocoPhillips international training and alternative energy research facilities.

Second, despite a national downturn in venture capital deals, compared to the third quarter of last year, Colorado either held steady or increased its flow of funds according to two reports cited in the Camera. This was due to investments in alternative energy companies such as AVA Solar Inc. with operations in the state.

A View of the Rockies believes the development of renewable energy will change the U.S. economy as profoundly as the emergence of the Internet or the railroad network did in the previous times. It won't be an easy transition and its hard to predict when critical mass will be reached and the changes will ramp up to full effect. However, when the green energy revolution does come, it will dramatically boost the economic wealth and power of the cities and regions that play host to this sector.

In the immediate term, the U.S. economy appears to be headed for lean economic times with contractions occurring in many sectors of the economy. However, the Denver Region can outperform the U.S. as a whole if it can continue to build an alternative energy economy. In the longer term, the development of this sector holds transformative possibilities for Colorado.

Branding Colorado's Green Energy Cluster

This year has seen a wave of positive developments for the green energy sector in Colorado, from the ConocoPhillips purchase of the former Storage Technology site to to the massive $130 million venture capital funding of Broomfield-based biofuel company Range Fuels.

The time is now ripe for regional boosters, civic organizations and clean energy trade groups in Colorado to come up with a memorable nickname for the alternative energy cluster in the region to help brand this sector's presence in Colorado in the same way that "Silicon Valley" represents the technology sector in the San Jose/San Francisco corridor. Giving the sector a concrete, memorable identity will help plant the idea in the public consciousness that Colorado is the place to be for green entrepreneurs, investors and workers, and serve as a rallying cry to help recruit employers and complementary economic entities to the area. This branding action will serve as a preemptive strike against other metro areas who are fiercely competing for similar jobs and investments. Once the nickname is established, a focused public relations and advertising campaign should be used to create brand awareness.

A short, simple, catchy, relevant, two to three word nickname is required. To get the ball rolling here are some suggested components for the name.

Possible alternatives for the first part of the phrase:

• green
  
• renewable
  
• alternative
• clean
• sustainable
  

Possible alternatives for the second part of the phrase:

• prairie
  
• plains
  
• foothills
  
• mountains
• range
• slope
  

The alternative that sounds best to me is "The Renewable Range." I like the meaning, the catchiness of the "double r" alliteration and the implied geographical references to "the Front Range," the well known term for the most populous part of Colorado on the eastern slope of the Rocky Mountains.

I am wondering what others think? Please send your suggestions and comments.