As Colorado continues to grow and evolve, so too does its workforce. Recent years have seen significant investments in workforce development, particularly in emerging industries and transportation. Let’s explore how these investments are shaping the Centennial State’s economic landscape.
Federal Funding: A Boost for Colorado
Two major federal initiatives have injected substantial funds into Colorado’s workforce development efforts:
- The Infrastructure Investment and Jobs Act (IIJA) has allocated approximately $3.7 billion to Colorado for transportation projects over five years.
- The Inflation Reduction Act (IRA) has directed about $369 billion nationwide for energy modernization and technology deployment through 2032.
These federal funds provide a solid foundation for Colorado to build upon, creating opportunities in both traditional and emerging sectors.
State-Level Initiatives: Colorado Takes the Lead
Not content to rely solely on federal funding, Colorado has taken proactive steps to invest in its workforce. The HB21-1264 Workforce Innovation Funding bill allocated $35 million for workforce innovation, distributed as follows:
- $17.5 million to Local Workforce Boards
- $13.3 million for statewide initiatives through the Colorado Workforce Development Council (CWDC)
- $4.2 million for evaluation, implementation, and administration
Key Investments from CWDC Funding
- Career Navigation and Coaching Collaborative Grants
- Trade Association Training Programs Grants
- Regional Sector Partnership Staffing Support Grants
These investments aim to expand career coaching, develop innovative workforce training opportunities, and foster industry-driven alignment across workforce, education, and economic development.
Who’s Benefiting?
A wide range of organizations and communities are receiving these funds, including:
- Local workforce centers
- Community-based organizations
- Trade associations
- Regional sector partnerships
- Educational institutions
This diverse group of recipients ensures that the benefits of these investments reach all corners of Colorado’s workforce.
Transportation: Paving the Way for New Opportunities
Colorado is leveraging federal highway funding to create new opportunities in transportation:
- States can use unlimited funds from four large federal-aid highway programs for workforce development activities.
- These activities include developing new skills for emerging transportation technologies and attracting job-creating investments.
One standout program is the On-the-Job Training Program, funded with $50 million over 5 years. This program focuses on moving women, minorities, and disadvantaged individuals into journey-level positions in highway construction.
The Impact: By the Numbers
While specific job creation numbers for recent investments are still being tallied, we can look at the impact of Colorado’s workforce development efforts in Program Year 2020:
- 376,593 job seekers utilized the public workforce system
- 58.2% of job seekers were successfully employed, with 61.7% retaining employment after one year
- 9,385 businesses were served
- 5,032 individuals were enrolled in extensive training programs, with 72.1% successfully employed afterward
Looking Ahead
These workforce investments are designed to create a more agile, skilled workforce in Colorado, particularly in emerging industries and transportation. By focusing on career coaching, industry partnerships, and targeted training programs, Colorado is addressing skill gaps and promoting economic growth across the state.
As we move forward, these investments will play a crucial role in shaping Colorado’s economic future. They’re not just about creating jobs; they’re about creating opportunities for Coloradans to thrive in a rapidly evolving job market.
Whether you’re a job seeker looking to upskill, an employer seeking skilled workers, or simply a resident interested in Colorado’s economic future, these workforce investments are working to create a stronger, more resilient Colorado for all.
For more information on workforce development opportunities in Colorado, visit the Colorado Workforce Development Council website.