Region 10 and our federal, state, and regional partners and funding agencies made 2016 a year of significant investment in our community. The graphs below provide key information about some of the programs and operations at Region 10.
Region 10 receives its funding from various sources. In 2016 the largest portion came from grants from our federal, state, and local funding partners, leveraging our local government investment in Region 10 more than 18 times the initial investment—we think that’s a pretty good return!
More than 60% of Region 10’s revenue was distributed directly into the community through services provided by the Area Agency on Aging, Small Business Resources, and other contracts and consulting, while the remaining was used for salaries and operations (33%) and Enterprise Center expenses (less than 10%).
In 2016 the Area Agency on Aging saw the addition of ADRC Options Counselors which expanded its reach to more consumers and provide essential services that support independence. Nearly $1 million was distributed directly back into the communities served by Region 10. In addition, a senior companion program was developed to provide additional support to seniors at home and their caregivers. In 2017, we are working on additional programs to support our local seniors. For more information, please contact Eva Veitch.
The Loan Fund and Small Business Resource Center transitioned from the retirement of Vince Fandel to the addition of Dan Scinto (loan fund) and Nancy Murphy (small business development) and is poised for growth in 2017.
Region 10 serves as the regional administrator for the Enterprise Zone. In 2016, more than $26 million was invested in equipment and jobs within the region, providing more than $800,000 in tax credits returned to those businesses. Local non-profits whose work impact economic development within the region and who have qualified for Enterprise Zone status received more than $2 million in donations, with $450,000 in credits returned to the donors. Businesses should pre-certify for qualifying investments and activities in order to receive tax credits for 2017. If you have any questions about this program, please contact Michelle Haynes.
In 2016, Region 10 received more than $8 million in Colorado Department of Local Affairs (DOLA) grant awards to assist in developing broadband infrastructure to connect our local communities and essential service facilities to high-speed, affordable internet services. These grants were upported by a number of partners, including the US Economic Development Administration, our local county and community governments, and in-kind support from Delta/Montrose Electric Association. The broadband infrastructure will support economic development by providing the levels of service needed to compete in today’s technology-driven economy. Currently, the project is under construction in the cities of Delta and Montrose and should be available in all participating communities by the end of next year. Thank you to our funding agencies and partners for making this valuable investment in our community.
Thank you for helping us continue to build our region!