Two new rounds of funding will help create Denver jobs, support local businesses and improve neighborhoods.

The Denver Office of Economic Development recently announced that funding is available through the American Recovery and Reinvestment Act's Community Development Block Grant-Recovery for business lending projects and community and neighborhood improvements.

A total of $1,366,613 in funding is available to projects involving business start-up and expansion. The funds are available through a direct business lending program that increases the Revolving Loan Fund and the Neighborhood Business Revitalization Loan program.

In addition, $850,000 in Community Development Block Grant funding will be available for neighborhood revitalization projects, which may include block beautification, installation and upgrade of parks and playgrounds, community centers and tree planting.

"In shaping our CDBG-R strategy, we placed an emphasis on making as many funds as possible available to our small business community," OED Executive Director Andre Pettigrew said. "We have seen a very strong need for greater access to capital among our businesses, and we're fortunate to have these extra funds to leverage within our community to create jobs and stimulate the economy."

Proposals for funding are due October 29. So far, Denver has received $55 million in federal stimulus funding.

Many people are hoping the jobs created from the funding will help revive Denver's economy, which, despite a decrease in unemployment, has continued to lose jobs.

During August, the Denver-Aurora-Broomfield area saw its unemployment rate decrease from 8 percent to 7.4 percent, which was lower than the national unemployment rate at the time of 9.7 percent.

The area had a total non-farm employment of 1,206,800 workers during August, according to the U.S. Department of Labor Bureau of Labor Statistics. This is down from 1,208,900 workers during July and a 4.6 percent decrease from last year.

Labels: Denver jobs

A new focus on renewable energy could help create thousands of San Diego jobs.

A local group of businesses and organizations recently announced its plan to apply for federal funding that would be used to create a smart energy grid in San Diego. If the 28 entities, led by San Diego Gas and Electric, secure the funding, it could result in the creation of 3,200 new jobs and $213 million in investments.

"This is a job creator," Byron Washom, director of strategic energy initiatives at University of California, San Diego, told the San Diego News Network."Not only in the high tech area, but this will be a creator of blue and green collar jobs. There’s a tremendous amount of installation, manufacturing and engineering required."

Smart grids, which are a large component of President Barack Obama's nationwide green energy plan, serve as a more efficient way to create, store and distribute electricity than traditional power plants.

The American Recovery and Reinvestment Act, which was put into motion earlier this year, allotted $4.5 billion for smart grids throughout the country. The San Diego group is requesting $100 million of that money and would provide $113 million in matching funds.

If San Diego receives any amount of funding, the projects created from it would begin to surface during the next one to three years. It is estimated that seven to 15 permanent jobs are created for every $1 million invested in the green industry, meaning a $213 million investment would result in the creation of 1,500 to 3,200 jobs.

"Green jobs are growing at a faster pace than the rest of the economy," Lee Krevat, director of smart grid for SDG&E, said. "Businesses thinking now of how to adapt their operations with the focus on environmental responsibility have the greatest chance of success in this new market."

Labels: San Diego jobs