Energy Office Faces Funding Drought

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MERCURY

A Special Publication of the Boulder County Business Report Section B 100 May 27 - June 9, 2011 Fast companies The Boulder County Business Report presents its annual list, Mercury 100 Fastest-Growing Private Companies, the top 50 with annual revenue of more than $2 MERCURY 100 million, and the top 50 with less than $2 million based on percent increase from 2008 to 2010. To make the list, a private company must have its headquarters in Boulder or Broomﬁeld counties. Hudson Construction LLC Mapleton Hill Media Boulder Valley’s fastest-growing private companies Section B

PETER WAYNE MICHAEL MYERS Family-owned Hudson Construction LLC in Boulder registered a 406 percent increase in Mapleton Hill Media co-owners Paul Sabini, left, and Jason Timbo, led the Boulder-based revenue from 2008 to 2010 to lead the list of Boulder Valley private companies reporting Web-design and development agency to revenue growth of 468 percent from 2008 to 2010 more than $2 million in annual revenue. Seen here are, from left, Dennis Hudson, Kellie Hud- to take the top spot on the list of Boulder Valley private companies reporting less than $2 son and Kaitie Hudson. See story, 2B. million in annual revenue. See Story, 10B.

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Serving Boulder and Broomfield Counties $1 Volume 30 Issue 12 | May 27 - June 9, 2011 Energy office faces funding drought BY BETH POTTER all funding for renewable-energy [email protected] Future of government-backed programs incentives and rebates. Across the solar industry, uncer- DENVER — Funding is in flux for in limbo as sources dry up at end of year tainty about subsidies doled out the Governor’s Energy Office, an issue through an Xcel Energy (NYSE: that could ultimately affect renewable The GEO’s previous funding from programs that we have delivered in XEL) program is wreaking havoc, energy companies in the Boulder Val- the Colorado Clean Energy Fund the past and to provide economic for example, said Andrew McKenna, ley, according to those in the industry. was eliminated by state legislators, development opportunities for folks senior vice president of Bella Energy While the GEO, as it’s often called, Fyfe said. That funding stream — a in the energy industry,” Fyfe said. Inc. in Louisville, which installs com- currently is funded through $130 mil- percent of Colorado gaming revenue Whether or not new funds are mercial solar panels. lion in federal grants over a three-year — gave the office $4 million in 2009 found for the Governor’s Energy In February, Xcel Energy said it would period, those funds will dry up about and $7 million in 2008, she said. Office, many worry that Colorado’s decrease the incentives it offers hom- a year from now, according to Angie “We need to find a source of state “New Energy Economy” is already eowners and businesses to install photo- Fyfe, associate director of the office. funding in 2012 to continue to deliver hurt by the general uncertainty over ➤ See Funding, 27A

Summit ZOOMING AROUND THE AGILITY COURSE Franchise in Longmont offers classes for canines to strengthen their skills reﬂects on Boulder’s economy Nation taking notice of ‘run of successes’ BY BUSINESS REPORT STAFF [email protected]

BOULDER — Boulder will have to work to keep its economic edge as its success has attracted the notice of other communities that are turning into rivals and potential poachers. That was the verdict reached by a panel of economic and community leaders May 18 at the conclusion of the 2011 Boulder Economic Summit. The event, which was organized by the Boulder Economic Council and hosted at the University of Colorado, JONATHAN CASTNER was devoted to Boulder’s “innovation Pepper, owned by Eric and Asha Wolf, leaps over the high jump at Zoom Room in Longmont. Marnie Johnson opened the new fran- economy.” chise in Longmont on May 7 to offer dog-agility classes, products and events. In background at left is Jen Bailey and Sage, an Austra- Boulder’s entrepreneur and innova- lian sheep dog. See story, 3A. ➤ See Summit, 9A

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2A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com Sales improving for outdoor retail sector Editor’s note: The following is a wrap-up of climbing equipment, Leisure Trends continue to develop the various bio- showroom and warehouse space at breaking local business stories published daily said in its latest report. logical substances it makes called 3825 Walnut St. in Boulder before on the Boulder County Business Report’s The 13 percent growth from March peptides, the company said in a press July 1, according to a recorded com- website. Sign up for our free BCBRdaily, an all 2010 translates into retail sales of statement. The peptides - including pany announcement. local e-news report sent to your e-mail each $476 million. Snow sports sales were ones used in Alzheimer’s research All Cen Tex workers will be weekday. Just click on “Register for E-News- $282 million in March; a strong finish - are made using licensed technology absorbed into Tundra Specialties, letters” at www.BCBR.com. to the season. from the University of Colorado. and more hires are expected, accord- Overall, snow sport season sales The investor group was not dis- ing to a Tundra Specialties worker BY BUSINESS REPORT STAFF totaled $3.3 billion, 12 percent more closed, said Misha Plam, company who declined to be named. The new [email protected] than the 2009-2010 season at the end president and chief executive. operation is expected to have more of March 2010; 16 percent greater “Our expertise and novel peptide than 100 employees. BOULDER — National outdoor than the 2008-2009 season and 7 manufacturing technology provide Tundra has been growing in recent retail sales were up 13 percent in percent greater than 2007-2008. AmideBio with several advantages years, moving from its previous loca- March, pushed by a 7 percent increase over traditional synthetic or recom- tion in Gunbarrel to Boulder a little in snow sports sales, according to binant methods,” Plam said. “(They) more than a year ago with the help Leisure Trends Group, a local market BCBRdaily allow the efficient production of dif- of business incentives from the city research firm. Both apparel and footwear dollars ficult-to-produce peptides with bet- of Boulder. Boulder-based Leisure Trends does increased 16 percent in March across ter quality, higher yields and overall Cen Tex was founded in 1951 and not break out industry figures geo- the country. In general, athletic appar- better economics.” was first named Centennial Paper Co. graphically. el sales totaled $145 million in March, AmideBio’s manufacturing process The company currently is located at But Boulder County is seen as a up 11 percent from the year before. can be used to “rescue” abandoned 2845 29th St. in Boulder. strong national player in the outdoor The firm also measures paddle drug candidates that previously failed Posted May 11. sports industry with well-known out- sport sales and dive retail sales, among in development because there was no door names based here such as Kelty, others. In general, both categories way to create a viable manufacturing Yost sentenced to prison GoLite and Sierra Designs, all out- saw merchandise sales fall, although process for them, the company said. DENVER — Former Flatirons door gear and clothing retailers. stand-up paddleboard sales grew 67 Posted May 11. Bank chairman and investment fund Spyder Active Sports, the ski rac- percent from the year before to total manager Mark Yost received a six and ing suit and coat maker, Scarpa, which $792 million in March. Tundra acquires Cen Tex one-half year prison sentence May 12 makes hiking and ski boots, and Pearl Posted May 19. BOULDER — Restaurant supply for defrauding investors and banks out Izumi USA, which makes bike appar- company Tundra Specialties plans to of more than $5 million. el, all have offices in the county. The AmideBio receives funding add employees and space after buying Yost, 47, pleaded guilty on Feb. 3 to Outdoor Industry Association trade BOULDER — Biotech company Cen Tex Supply Co., a local cleaning four counts - making false statements group is based in Boulder. AmideBio LLC received $575,000 in products and supplies company. to banks, wire fraud, bank fraud and Sales growth in March came from new equity funding from a group of Terms of the deal were not dis- money laundering. In return, the all outdoor categories surveyed, private investors. closed. government agreed not to initiate including tents, bags, backpacks and AmideBio will use the money to Cen Tex will move into Tundra’s ➤ See BCBRdaily, 26A

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Boulder County Business Report | www.bcbr.com May 27 - June 9, 2011 | 3A Cooper Tea, Third Street Chai form DrinkWorks BY BETH POTTER will join the Cooper Tea board of the most successful new specialty ventional iced tea and tea-related bev- [email protected] directors as part of the merger while item in two Whole Foods Market erages including B.W. Cooper’s Iced remaining president of Boulder-based regions, the companies said in a state- Brew Tea-brand products — mostly BOULDER — Cooper Tea Co. Third Street Chai. ment. The partnership for restaurants. Third Street Chai has and Third Street Chai will merge “We want every- in that venture led to a proprietary brewing process and a under the name DrinkWorks while body to understand the merger. production facility that brews organic continuing to operate independently. that we value the “It’s really exciting. chai teas, yerba maté and lemonade Terms of the deal were not dis- unique identities of Barry (Cooper, chief beverage concentrates under the Third closed. the brand portfolios, executive officer of Street and Pixie Maté brands, mostly New company products are expect- which is why they will Cooper Tea) and I have for grocery stores. ed to be announced later this year, and operate independent- Cooper Simmons become really good The two companies currently have future growth could bring new hires, ly,” Norwine said. friends. Our way of no overlap in distribution and sales said Colleen Norwine, marketing The two companies launched a doing business is very complimentary,” channels, meaning that the merger director at Louisville-based Cooper co-branded line of iced tea concen- Simmons said. creates signiﬁcant growth opportuni- Tea Co. In addition, John Simmons trates in summer 2010, which was Cooper Tea makes organic and con- ties, Cooper said in the statement. Elevations holds limerick contest Zoom Room for customers In honor of National Limerick Day, Elevations Credit Union in Boulder decided to hold a limerick contest among its customers and send the winner to Limerick, Ireland, home of writer Edward Lear, the father of the limerick. You know, these are the short poems that sometimes start with, There once was a girl from Nan- tucket … . THE EYE

The Eye was interested in seeing some of these entries, and Dennis Paul, assistant vice president of business and community development at Elevations provided a few, saying, “These are the ones ﬁt to print.” Shucks, but here’s a couple any- way. This from Erin Koenig: There once was a girl from Boul- JONATHAN CASTNER der, Claire Lyons, 10, works with her corgi named Star on the agility course at Zoom Room in Longmont. “We teach owners, not dogs,” said Marnie Who tired of her bank’s cold shoul- Johnson, who owns the franchise. “They learn how to direct their dogs through the fastest-growing dog sport around — agility training.” der, Elevations embraced her, She made a funds transfer, Franchise in Longmont offers dog training, events Now she’s a proud credit union cardholder! BY ELIZABETH GOLD Johnson said. “They learn how to to be healthy. And Mary Hill penned: [email protected] direct their dogs through the fastest- “Plus our gym is indoors, disin- Big bankers think they are the growing dog sport around — agility fected daily and requires dogs to be kings LONGMONT — Looking for a training.” on leashes so it’s safe,” she added. And we are all here to just bring way to give your canine a chance to In dog agility competitions, own- The Open Gym accommodates up Them money galore run without risking the mud puddle ers or handlers direct dogs through to three dogs at a time and gives But fees make me sore traps of outdoor dog parks? Marnie an obstacle course in a race based on owners and their dogs the opportu- Credit Unions, of course, are my Johnson has just the answer. both time and accuracy. Recognized nity to play on Zoom Room’s agility thing. As an alternative to dragging out by the American Kennel Association equipment. Paul said the credit union received the galoshes, ponchos and umbrel- as one of the fastest-growing events All dogs are required to be up to more than 600 entries. Stay tuned to las to meet Fido’s need for exercise, at the AKC, agility covers a variety date on vaccinations. see who goes to Ireland. she recently opened Zoom Room in of activities, including the dog walk, Johnson’s Open Gym spreads Hover Crossing at the corner of 17th seesaw and A-frame. out in a space that’s approximately We have a new “eco diva” in the Avenue and Hover Street in Long- It’s not necessary to be in the dog 1,500 square feet. The rest of the room after the recent Boulder Eco- mont. And not only does the indoor agility circuit to enjoy the activity, operation ﬁlls an additional 1,000 nomic Summit — one Liz Hanson, gym get you out of bad weather, it’s however, Johnson stressed, describ- square feet. the city of Boulder’s economic vital- also a place to take a variety of training her obstacle course as a place For people who want a little ity coordinator. ing classes. where owners and dogs can bond more privacy or who have a dog that We also have our very own 2011 “We teach owners, not dogs,” while dogs get the exercise they need ➤ See Zoom, 19A ➤ See Eye, 31A 4A 4A4A

4A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com STILL DRINKING BOTTLED WATER Colorado’s clean-tech AT THE OFFICE? Go Bottle-less for $1 Day! industry at crossroads U.S. behind in deploying renewable energy BY MICHAEL DAVIDSON [email protected] CEO Roundtables The Boulder County Business Report conducts BOULDER — Colorado risks los- CEO Roundtable discussions monthly to address ing its status as one of the homes of the key issues facing companies and industries in Purified water coolers clean-tech industry, and the U.S. could Boulder and Broomfield counties. Cleaner Greener Responsible The CEO Roundtable is conducted in collabora- soon be surpassed as other nations invest tion with Holland & Hart LLP and Ehrhardt Keefe 720-320-6630 in developing new technology, a panel of Steiner & Hottman PC. The roundtables are industry leaders said Tuesday. closed to the public, but the Business Report clearH2Ocoolers.com They gathered to discuss the state reports on each roundtable in its print editions and future of the industry at the Boul- and posts video interviews with some partici- der County Business Report’s latest pants on its Web site at www.bcbr.com. CEO Roundtable held May 17. The clean-tech industry in the 2011 schedule state and the nation is approaching a Jan. 25: Economy, published Feb. 4 crossroads, but no one seems to know Feb. 22: Banking, published March 4 which direction it will take. March 22: Energy and Utilities, published April 1 April 19: Natural Products, published April 29 May 17: Clean Technology, published May 27 June 14: Outdoors Industry, publishes June 24 July 12: Real Estate, publishes July 22 Aug. 9: Innovation, publishes Aug. 19 Sept. 14: Health Care, publishes Sept. 30 American companies are better than Oct. 18: Technology and Telecommunications, anyone else at developing new technol- publishes Oct. 28 ogy, but are finding a lack of support Nov. 15: Bioscience, publishes Nov. 25 from consumers and the government. “The U.S. is lagging behind almost “We’re up against countries like all the industrial world and much Germany, Spain, province in Canada, of the world in general in deploying with a clear policy and platform and renewable energy. The dichotomy direction,” Franklin said. “I feel like is we still lead the world in creating we’re in feudal times with all the war- these industries,” said David Hiller, lords fighting each other. We’re falling executive director of the Colorado farther and farther behind the rest of Renewable Energy Collaboratory, a the world because we’re spending time partnership of the University of Colo- fighting about the wrong topics.” rado, Colorado State University, Colo- Colorado has been beset by similar rado School of Mines and the National problems. The decision by Xcel Ener- Renewable Energy Laboratory. gy Co. to change the rebate program Gridlock in Congress and regulato- for installing photovoltaic systems Ask about our first ry inertia is not helping the industry. will shrink the industry by up to a time customer “We’re lacking a sense of urgency third, Boulder-based Namaste Solar’s discount in the U.S.” said Sue Kunz, chief chief executive Blake Jones said. executive of BioVantage Resources “It’s a shame that Colorado has Inc., a Golden-based company that is built all this infrastructure, and has a developing ways to use algae to turn wonderful story … and we might lose wastewater into biofuels. all that momentum,” Jones said. JUNE 2011 CATERING SPECIALS* A lack of a national energy policy Companies that make or install Local and organic suppliers that promotes the development of the photovoltaic systems have left the Seasonal menus renewable energy industry is hold- state or invested elsewhere if they Environmentally conscious ing back the U.S., said Scott Frank- can, said Mark Simmons, vice presi- lin, chief executive of Boulder-based dent and chief operating officer of #1 Tarragon Chicken $ 10.95 #4 Smoked Beef Brisket $10.95 Lighthouse Solar. ➤ See Crossroads, 5A Grilled chicken breast topped with radish Sliced in natural juices, served with , bar- butter, served with mashed potatoes, roasted bequed baked potato slices topped with sour vegetables; choice of carrot cake or assorted cream and scallions, sautéed corn, house cookies for dessert. salad with ranch dressing; choice of carrot cake or assorted cookies for dessert. #2 Corn Pesto Pasta $ 9.95 Penne pasta tossed with our house made #5 Vegetarian Calzone $9.95 corn pesto sauce and grilled chicken breast Stuffed with grilled vegetables and ricotta slices, served with house salad and cham- cheese and toppings on the side including Volume 30 : Issue 12 pagne vinaigrette, rolls and butter; choice of tomato basil sauce, parmesan cheese, pep- carrot cake or assorted cookies for dessert. peroncinis, served with Caesar salad; choice of May 27 - June 9, 2011 carrot cake or assorted cookies for dessert. 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ClearEnergy Inc. in Greenwood Vil- “In the last couple of years, com- lage. Those that could not move are panies are definitely opening their going out of business. wallets more,” said Quayle Hodek, Boulder’s decision to end its fran- president and chief executive of chise agreement with Xcel Energy and Renewable Choice Energy Inc., a consider municipalizing the power sustainability consulting firm located grid is a source of hope, Jones said. in Boulder. “It would be neat to be in charge of “It’s a differentiator that translates our own destiny,” Jones said. into economic advantage, and that’s Whether Boulder could take over what they need to see,” Kunz said. and run its own system successful While the roundtable participants is uncertain, said Roxy Podlogar, focused on the challenges, they did vice president of product strategy of see reasons for optimism. Green Energy Corp., a Denver com- Investors outside Colorado con- pany that makes software to manage tinue to think investing in Colorado energy grids. companies is a good idea, and there The technical challenges might be DOUG STORUM are reasons for optimism, Kunz said. too much for the city, she said. David Hiller, left, executive director of the Colorado Renewable Energy Collaboratory, said Hiller said American entrepre- “I just wonder how capable Boulder the U.S. is lagging behind almost all the industrial world and much of the world in general neurialism and ingenuity will keep will be to manage their own power sys- in deploying renewable energy. “The dichotomy is we still lead the world in creating these the U.S. competitive. tems. That’s a significant feat, if they’ve industries,” he said. Hiller participated in the Boulder County Business Report’s CEO “We encourage free-thinking in a never done that before,” she said. Roundtable on the clean-tech industry May 17. Also participating were Roxy Podlogar, cen- way most other cultures don’t, and Jones said that even if Boulder does ter, vice president of product strategy for Green Energy Corp and Sue Kunz, chief executive that encourages a lot of innovation,” decide to continue working with Xcel of BioVantage Resources Inc. he said. “They still look to us for a lot Energy, the city’s hand is strength- of cutting edge technology” ened when it comes to asking for “We have to sell. We can’t wait for reducing their energy use and carbon The roundtable was hosted by policy changes. more incentives. We have what we footprint for good PR, but many com- Ehrhardt Keefe Steiner & Hottman “Now we have a much better bargain- have,” he said. panies are realizing it will improve PC and Holland & Hart LLP at the ing position at the table, and only good “If we’re going to make major prog- their bottom line. EKS&H’s office in Boulder. things can come from that,” he said. ress, it’s going to be selling it on the No matter what government does, economics,” Hiller said. “We need to PARTICIPANTS clean-tech companies will need to win convince the American people that this Scott Franklin, chief executive, Lighthouse Solar; David Hiller, executive director, Colorado Renewable acceptance from businesses and the pub- makes sense for their children and grand- Energy Collaboratory; Quayle Hodek, president/chief executive, Renewable Choice Energy Inc.; Blake lic. Companies in the industry need to children. Then we have a prayer.” Jones, chief executive, Namaste Solar; Sue Kunz, chief executive; BioVantage Resources Inc.; Roxy accept that and find ways of bringing pro- The industry is getting help from Podlogar, vice president of product strategy, Green Energy Corp.; Mark Simmons, vice president/chief duction costs down or bundling equip- corporations like Wal-Mart, which operating officer, ClearEnergy Inc. Moderator: Chris Wood, publisher, Boulder County Business Report. ment to make sales, Simmons said. are greening their stores. Some are

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6A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com VECTRA BANK/BCBR ECONOMIC INDICATORS

BOULDER VALLEY Boulder Valley Economic Index Just when we weren’t looking This forward-looking index is based on gross domestic product, construction, unemployment and retail sales. the jobs pot started to simmer or the past three years, news coverage has All sectors make different contributions to the 114.7 Q2/11 focused almost exclusively on job losses, local economy. CU is important because it is the Q1/11 114.3 unemployment and volatile commodity county’s largest employer. Despite reported cuts to prices. Their coverage made one wonder higher education, first-quarter 2011 employment for Q4/10 113.2 Fif the media hadn’t heard of the old wives’ tale, Boulder County state education services is up by 300 “A watched pot never boils.” As much as everyone over the same period last year. At the state level, the Q3/10 110.4 wanted a speedy recovery, watching the pot hoping first-quarter increase is more than 2,000 workers. Q2/10 111.5 the water would boil, did not hasten the process. ON THE JOB FRONT Q1/10 111.7 Recently, discussions about our economic woes have been Boulder County employment has 0 30 60 90 120 150 accompanied by news of unrest Source: Broomfield-based Business and Economic Research in Northern Africa, the triple posted gains in eight of the last 15 crisis in Japan, the removal of months. First-quarter employment is BOULDER COUNTY INDICATORS Osama bin Laden from the most wanted terrorist list, and the about 1,200 workers ahead of the same Unemployment University of Colorado’s return Based on nonseasonally adjusted unemploy- to dominance atop the college ECONOMY period last year. On the downside, ment, Boulder County is still below state rate. Gary Horvath party circuit. With our attention county employment remains about diverted to these matters, it was Q1/11 6.9 almost like magic, the water in the pot began to boil. 10,000 workers below its 2001 peak. To that point, the recalibrated Boulder Valley Q4/10 6.7 Index inched upward, from 114.3 to 114.7, the fourth consecutive quarter of small, but positive Q3/10 6.7 gains. Improvement in the index is driven by stronger Boulder Valley is the focal point for the state’s retail sales, accommodative interest rates, increased advanced technology cluster (its workers come from Q2/10 7.3 payrolls and continued growth in U.S. output. three sectors). After a slow start in 2010, Boulder County retail The number of manufacturing employees Q1/10 7.5 trade sales posted a 7.3 percent gain over the prior increased by 300 and the professional, technical 0 2 4 6 8 10 year. This is slightly better than the state, 6.9 percent, and scientific sector added 600. Percent Source: Colorado Office of Labor Market Information but less than the double-digit growth experienced Locally, the information sector has been flat for in Broomfield County. Retail sales are expected to the past two years, while it continues to shed jobs increase at a solid, but lower rate in 2011. statewide. News on the street (Covidien, Microsoft, Retail sales Interest rates have remained low for an extended Google, MedPro Imaging, and UQM Technologies) Steady gains were recorded through 2010. period. On one hand, low rates benefit individuals suggests the advanced technology cluster is poised who want to refinance their homes or make major for a rebound. Q1/11 Not Available purchases; businesses needing money to expand or At the state level, net jobs have been added for 10 pay operating expenses also benefit. On the other of the past 15 months and first-quarter employment Q4/10 2,648,1600,000 hand, the low rates provide a challenge for retirees is up by about 15,600 workers. A group of sectors that who had hoped to live off the interest from their employ about 60 percent of the employees increased Q4 2010 $2,648,160,000 Q3/10 $2,028,703,000 savings or investment accounts. payrolls by about 34,800. The top gainers in that group Q3 2010 $2,028,703,000 On the job front, Boulder County employment are tourism (leisure and hospitality), health care, min- Q2 2010 $1,919,497,000 Q2/10 $1,919,497,000 has posted gains in eight of the last 15 months. First- ing, higher education and employment services. Q1 2010 $1,904,114,000 quarter employment is about 1,200 workers ahead On the opposite side of the ledger, a group of $1,904,114,000 Q1/10 of the same period last year. On the downside, sectors that employ about 40 percent of wage and 1000 1500 2000 county employment remains about 10,000 workers salary workers have reduced their payrolls by about Dollars in thousands below its 2001 peak. ➤ See Jobs, 8A Source: Colorado Department of Revenue

Single-family home Single-family home Valuations for all building permits issued permit valuations building permits Number of permits issued continues to dwin- First quarter of 2011 tops ﬁrst quarter of 2011. Permit valuations dip in ﬁrst quarter 2011. dle. $13,344,000 Q1/11 $13,935,000 Q1/11 38 Q1/11 $20,346,000 Q4/10 $25,008,000 Q4/10 48 Q1 2011 $13,344,000Q4/10 Q4 2010 $20,346,000 $17,033,000 Q3/10 $21,850,000 Q3/10 Q3 2010 102 $17,033,000Q3/10 Q2 2010 $9,730,000 $9,730,000 Q2/10 $56,741,000 Q2/10 30 Q1 2010 $10,822,000Q2/10 $10,822,000 83 Q1/10 $11,571,000 Q1/10 Q1/10 0 5 10 15 20 25 0 10 20 30 40 50 60 0 20 40 60 80 100 120 Dollars in millions Dollars in millions Source: U.S. Census Bureau Source: U.S. Census Bureau Source: U.S. Census Bureau

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0HPEHU)',& 8A ECONOMIC8A 8A INDEX

8A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com VECTRA BANK/BCBR ECONOMIC INDICATORS

NATIONAL INDICATORS Gross domestic product Treasury bills Nasdaq The U.S. has experienced ﬁve consecutive quarters The spread between the 10-year and 3-month constant The Nasdaq has nearly doubled in the past of heavily stimulated growth. maturities is impacted by the Fed’s monetary policy. two years.

Q1/11 3-month13,438.8 0.1 0.1 Q1/11 Q1/11 2781.07 10-year 3.4 3.4 spread 3.3 Q4/10 13,380.7Difference 3.3 Q4/10 0.2 2.7 spread 2.5 Q4/10 2652.87 Q3/10 13,278.5 Q3/10 0.2 2.7 spread 2.5 Q3/10 2368.62 Q2/10 13.194.9 Q2/10 0.1 Q2/10 2109.24 3.2 spread 3.1 Q1/10 13,138.8 Q1/10 0.2 Q1/10 2397.96 3.7 spread 3.5 13 13.1 13.2 13.3 13.4 13.5 0 1 2 3 4 5 2000 2200 2400 2600 2800 3000 In thousands Source: Bureau of Economic Analysis 3 month 10 year Source: Federal Reserve Source: Freelunch.com

BROOMFIELD COUNTY INDICATORS JOBS from 6A Unemployment Based on nonseasonally adjusted unem- 19,200. The top losers in that group are construc- ployment, Broomfield County experiences tion, finance, information, K-12 education and the increase in its jobless rate. federal government. Hopefully you were distracted by recent head- 8.1% Q1/11 lines and missed the news that the advance estimate for real gross domestic product, or GDP, for first- Q4/10 7.7% quarter 2011 came it at 1.8 percent and the April consumer price index, or CPI, posted a gain of 3.2 Q3/10 7.7% percent, reflecting increases in energy (19 percent), gasoline (33.1 percent) and food (3.2 percent.) Q2/10 8.0% The advance estimate is likely to be revised downward, but real GDP growth for the remainder Q1/10 8.8% of the year will be in the range of 2.5 percent to 2.9 0 2 4 6 8 10 percent. Though the economy is improving, con- Percent sumer spending is not expected to show significant Source: Colorado Office of Labor Market Information gains. Many economists feel that the current infla- tionary trends are short-lived, i.e. gasoline prices Retail sales will decline. First quarter sales better in 2011 than 2010. U.S. companies have added 1.7 million workers since the first of 2010, when employment bottomed out near 129 million. Despite these gains, current $244,662,777 payrolls remain nearly 7 million below the peak Q1/11 in 2008. Although 244,000 jobs were added in JONATHAN CASTNER $308,567,474 April, a slower, but solid pace is expected in the Locally, news on the street suggests the advanced tech- Q4/10 near-term. nology cluster is poised for a rebound. Area companies $257,143,050 Looking ahead to the second half of the year, contributing to an upswing include Covidien Plc, Microsoft Q3/10 the nation, Colorado and the Boulder Valley will Corp., Google Inc. MedPro Imaging, and UQM Technolo- $237,614,082 continue to add jobs at a rate that is clearly less than gies Inc., a manufacturer of electric motors, seen here. Q2/10 robust. While there is good news in the advanced $212,776,757 Q1/10 technology cluster, mining, tourism and health water continues to boil?” You can if you want, but care, there are problems in sectors that employ 40 the economy won’t improve any quicker if you do. percent of the workers that will best be resolved by 0 4 8 Dollars 12 in millions 16 20 24 28 32 time. Gary Horvath is the principal of Broomfield-based Business Source: City and County of Broomfield So, will it help to “watch the pot to see if the and Economic Research. Website is garyhorvath.com.

Single-family home Single-family home Valuations for all building permits issued permit valuations building permits Fewest number of permits issued in ﬁve quarters. Valuations lowest in last ﬁve quarters. 2011 valuations start off slow.

34 Q1/11 $8,902,139 Q1/11 $8,902,139 Q1/11 37 Q4/10 $10,247,000 Q4/10 $10,247,000 Q4/10 64 Q3/10 $15,136,000 Q3/10 $15,136,000 Q3/10 Q2/10 $17,556,000 Q2/10 $17,556,000 Q2/10 79 Q1/10 $9,730,000 Q1/10 $9,730,000 Q1/10 40 0 20 40 60 80 100 0 2 4 6 8 10 12 14 16 18 20 0 2 4 6 8 10 12 14 16 18 20 Dollars in millions Dollars in millions Source: U.S. Census Bureau Source: U.S. Census Bureau Source: U.S. Census Bureau

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Boulder County Business Report | www.bcbr.com May 27 - June 9, 2011 | 9A

SUMMIT from 1A tor friendly environment has attract- $200 million to develop a space- ed the attention of companies across port near Las Cruces. It has become the nation, major media outlets, and a major testing facility for compa- We have an actual, real shot to be the national center for other cities that are looking to copy nies trying to create the commercial Boulder’s success. spaceflight industry. commercial space. We have all the pieces to be No. 1, but we “We’ve gone from being perceived “It was looked at as ridiculous at as the lunatic fringe to be right in the the time. … All of a sudden, it doesn’t haven’t put them together, or told their story. heart of innovation,” Sterling-Rice look so dumb,” Tibbitts said. group managing partner John Grubb Boulder also faces a talent crunch. Elvir Causevic said. Software and IT companies are EXECUTIVE DIRECTOR, The run of successes could encour- hiring people as fast as they can and COLORADO ASSOCIATION OF MANUFACTURING AND TECHNOLOGY age a sense of complacency, Grubb doing their best to import talent from said. Meanwhile, other cities are able California, said Brad Bernthal, direc- to offer aid that Boulder and Colorado tor of the Silicon Flatirons Center’s not be able to do it on its own, local technology acceleration program. cannot or will not. entrepreneurship initiative and a CU aerospace experts said at the Boulder “We have all the pieces to be No. 1, The problem is especially acute law school associate professor. Economic Summit. but we haven’t put them together, or in the outdoor industry, said Frank “We need more geeks,” Bernthal Companies and research entities told their story,” Causevic said. Hugelmeyer, president and chief exec- said. will need to cooperate with other A component behind that will be utive of the Outdoor Industry Asso- One criticism of Boulder — that it groups around Colorado to make the the aerospace and clean energy indus- ciation. Cities such as Portland and is good at nurturing entrepreneurs but state a leader in the industry or risk trial park that CAMT is trying to states like Utah are making concerted not managers with the skills needed losing an opportunity that would develop in Loveland. The park would efforts to offer incentive packages to to turn a startup into a 500-employee bring it tens of thousands of jobs and help private companies develop tech- companies in an effort to become the company that can earn about $100 mil- billions of dollars, the experts said. nology and commercialize technology hub of the global outdoor apparel and lion a year — has been proven false, said The American aerospace industry is already developed by NASA. equipment industry, he said. Kyle Lefkoff, founder and general part- about to undergo a major transforma- But the park itself, which is affili- “With Boulder, (the outdoor indus- ner of Boulder Ventures LLC, which tion, as NASA ends the Space Shuttle ated with NASA but will not be built, try) is ours to lose, but others are manages venture capital funds. program. Private companies in Colora- operated or funded by NASA, will going after it,” Hugelmeyer said of “The argument that management do are trying to fill the void, and some not be enough to make Colorado a efforts to lure companies away from (talent) only exists on the East and of those companies, such as the Sierra leader. Companies and researchers in Boulder. West coasts is nonsense,” Lefkoff said. Nevada Corp. and Ball Aerospace & Boulder and around the Front Range State efforts that seem misguided “I hear it all the time, it’s (BS).” Technologies Corp., have major pres- must collaborate better. when they are launched can pay sur- — Michael Davidson ences in the Boulder area. “You can’t command national prising dividends, said Scott Tib- “We have an actual, real shot to be resources if you just have Boulder,” bitts, cofounder and vice chairman of Aerospace hub grows the national center for commercial Causevic said. eSpace: the Center for Space Entre- BOULDER — The Boulder Val- space,” said Elvir Causevic, executive People outside of Boulder are not preneurship. He pointed to New ley can become the nucleus of the director of the Colorado Association always eager to cooperate with Boul- Mexico’s decision to spend about commercial space industry, but it will of Manufacturing and Technology’s ➤ See Summit, 10A

2011 Boulder Economic Summit

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10A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com

SUMMIT from 9A der-based researchers, said Diane Dimeff, executive director of eSpace: The Center for Space Entrepreneur- ship, which is based in Boulder. The rivalry and cultural clash with cities like Colorado Springs, where the military and defense contractors have major facilities, is real and has to be navigated tactfully, Dimeff said. The federal government will continue to play a major role in the aerospace industry, but Congress is difficult terrain for Colorado companies, said Vicky Lea, aviation and aerospace industry manager of the Metro Denver Economic Development Corp. The small size of Colorado’s delegation — the state has seven representatives — and the delegation’s lack of seniority DOUG STORUM means Colorado lacks the clout other Holli Baumunk, left, president and chief executive of the Colorado BioScience Association, Tim Bour, Tim Bour, executive director of the states have when the federal govern- Boulder Innovation Center, and Kathy Rowen, founder of Boulder-based InDevR Inc., participated in a breakout session about biotechnology ment decides who gets major defense at the Boulder Economic Summit. or commercial contracts, Lea said. — Michael Davidson ing to grow into commercial viability, profile of the region, said Kyle Lefkoff, drug and inflammatory drug maker according to Tim Bour, executive direc- founder and general partner at Boulder company Array BioPharma Inc. (Nas- Biotech startups flourish tor of the Boulder Innovation Center. Ventures LLC, which has funded sev- daq: ARRY), where he sits on the BOULDER — Two fledgling com- The center helps such groups find eral successful biotech companies and board as chairman, may be the next panies — one that makes artificial tissue funding and legal help. The center has manages five venture capital funds with biotech candidate to be a big player and another that quickly shows chances been responsible for 342 new jobs to be $300 million currently invested. in Boulder. of survival in patients who have been added to the Boulder County economy Pulmonary hypertension drug Biotechnology heavyweights such badly hurt — are reaping the benefits of in recent years, Bour said Wednesday. company Myogen Inc. in Westmin- as Covidien Plc and Roche Colorado living in this biotechnology hub. Bour spoke on a biotechnology panel at ster might have been a good candidate also call Boulder home. In fact — like those two companies the Boulder Economic Summit. to be that “anchor tenant” when it InDevR Inc. founder Kathy Rowlen’s — more than 30 bioscience groups Now, it may be time to find an was acquired for $2.5 billion by Gil- company makes the ViroCyt, a virus working with research done at the Uni- “anchor tenant” global biotechnology ead Sciences in California in 2006, counter that speeds up how long it takes versity of Colorado are currently look- company to move here to elevate the Lefkoff said. He suggested that cancer ➤ See Summit, 11A 11A11A 11A

Boulder County Business Report | www.bcbr.com May 27 - June 9, 2011 | 11A

SUMMIT from 10A to analyze virus information from two Outdoor leadership weeks to about 10 minutes. Rowlen BOULDER — Government plan- pointed out that big or small, biotech ners could create a zone that’s friendly companies are able to attract qualified to outdoor lifestyle companies as employees to the Boulder area. About a way to keep them interested in 100 applicants responded to a recent staying in the region, said Jerry Lee, InDevR job ad, she pointed out. co-founder of Boulder-based Newton — Beth Potter Running, a shoe manufacturer. Lee, who is also a real estate devel- Being business friendly oper with W.W. Reynolds Companies in BOULDER — State government Boulder, made his comments on a panel workers must be more nimble, cut red about outdoor companies sponsored by tape and be business friendly. Xcel Energy at the Boulder Economic So said Dwayne Romero, the new Summit. He also brought up the idea executive director of the Colorado of Boulder having its own conference Office of Economic Development center, which could be used for 20,000- and International Trade, who was a plus-attendee outdoor industry confer- keynote speaker at the Boulder Eco- ences currently held in other states. nomic Summit. DOUG STORUM The conference center idea has State workers are being asked to Dwayne Romero, the new executive director of the Colorado Office of Economic Development been floated in the past by a variety of streamline their rules to help make and International Trade, said state government workers must be more nimble, cut red tape and business leaders and others as a way to it easier to do business in Colorado, be business friendly during his keynote speech that opened the Boulder Economic Summit. support the economy. Romero said. If there are government “I’m not big on incentives. I believe procedures that can be cleaned up has created a seed account to help bor- lead, but to accelerate and assist the you create opportunities through regu- to help businesses, they should be, rowers, and it also has a venture capital flow of capital,” Romero said. lations and land-use planning,” Lee he told the crowd of more than 300 authority and advisory board to discuss Romero and his colleagues have said. “You don’t have to have all of your people listening at the Glenn Miller funding opportunities. met with 4,000 participants in more buildings in the city of Boulder. We all Ballroom in the University Memorial State authorities have also approved than 100 sessions around the state enjoy what we have (but) we can create Center on the Boulder campus. the Regional Tourism Act, which uses as part of Gov. John Hickenlooper‘s a place that’s innovative and enjoyable.” “We have to be more creative, tax increment financing to help new Bottom-Up Economic Development The community should be asking more nimble and more innovative in projects. Tax-increment financing is a Initiative slated to be complete by June itself if it wants to be like Portland, the way we approach our customers,” financial strategy in which the increased 30. The new document will be used as Oregon, which has a strong interest in Romero said. tax revenues used from the new values of a “resource manual” to direct new eco- outdoor companies, and other similar In addition, access to capital is impor- projects built on previously vacant land nomic development efforts around the cities around the country, Lee said. tant to help get Colorado companies are used to pay for the development. state in coming years, Romero said. “If you’re not moving forward, are rolling, Romero said. State government “Part of our role is not to take the — Beth Potter ➤ See Summit, 21A

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12A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com

REAL ESTATE AND DEVELOPMENT | BCBR.COM 13A | Tenants ﬂock to Camera buildings, 15A | Top leases, 17A | Vacancy rates Realtors sense market starting rebound Sales, leases pick up as businesses buy, expand or downsize

BY MICHAEL DAVIDSON [email protected]

BOULDER — Commercial real estate brokers are busy again, as area companies are optimistic the worst has passed and are trying to find new space and good deals. More leases are being negotiated and rents are increasing in some parts of Boulder, area brokers said. Todd Walsh of The Colorado Group Inc. said much of the activity is “a reshuffling” of businesses making lateral moves or downsiz- ing. Outside of the tech industry, most businesses do not seem to be hiring or in need of larger offices, he said. DOUG STORUM Attitudes are not as bleak as The biggest recent deal was Semaho Inc.’s purchase of Views I & II office buildings in Broomfield for $42 million in April. The buildings are they were as recently as last year, two five-story class A properties located at 11800 and 11802 Ridge Parkway and were built in 2001 and 2002 respectively. The Views I has Walsh said. 169,000 square feet of rentable space, and The Views II has 168,000 square feet. Semaho purchased the buildings from Equastone Views LLC of San Diego, which bought the property in 2006 for $35 million.

TOP COMMERCIAL PROPERTY SALES Attitudes are not certain areas like downtown and IN BOULDER AND BROOMFIELD COUNTIES our retail,” Henry said. Jan. 1 to March 31, 2011 as bleak as they were The hottest market, as usual, is Buyer Address Type Price downtown, with a number of tech 1 Pancal Dry Creek 239 LLC 6303 Dry Creek Parkway, Industrial $10,006,800 as recently as last year. companies leasing large offices in Niwot The companies I talk to the past quarter, said Chris Boston, 2 Nexgen Boulder Holdings LLC 2870 28th St., Retail $6,742,100 vice president of brokerage services Boulder 3 Twin Lakes Business 4699 Nautilus Court South, Industrial $4,675,000 say ‘We know we hit at Gibbons-White Inc. Interest Park Denver LLC Boulder seems to be picking up on the the bottom.’ 4 1005 Boulder LLC 1005 12th St., Mixed use $4,625,000 periphery of downtown and other Boulder areas of the city. Todd Walsh 5 Stephen D. Tebo 5480 Valmont Road, Office $3,280,000 “We’re starting to see a lot more Boulder REALTOR, activity in south Boulder and east 6 Prairie Mountain Publishing Co. 345 Terry St., Office $2,800,000 Longmont THE COLORADO GROUP Boulder,” Boston said. Sales activity remains subdued, 7 Boulder Brownstones LLC 2828 Broadway, Suite 105, Office $1,582,000 Boulder in part because owners are not 8 MacHeath Industries LLC 4725 Nautilus Court South, Industrial $1,575,000 looking to sell. Boulder “Boulder has never been a place 9 Kitchen Café LLC 1035 Pearl St. Suite 100, Retail $1,500,000 “The companies I talk to say where there are a lot of sellers,” Boulder ‘We know we hit the bottom,’” he said Lynda Gibbons, president 10 Keneth C Schneider Family 2125 32nd St., Retail $1,475,000 said. and managing broker of Gibbons- Boulder For the most part the market White Inc. 11 4655 Yarmouth LLC 1655 Yarmouth Ave., Land $1,450,000 still seems to favor tenants, and There are investors interested in Boulder 12 1871 Folsom LLC 1871 Folsom St., Office $1,300,000 there are a lot of businesses shop- buying, but people on both sides Boulder ping around for deals, said Becky seem to be waiting for the right 13 JSB Properties LLC Lot in industrial area, Industrial $1,259,900 Callan Gamble, president of Dean deals to come along, she said. Louisville Callan & Co. But those companies The market in multifamily resi- 14 Jackman Enterprises LLC 1270 Boston Ave, Industrial $1,115,500 are not just shopping around, as dential units seems to be attract- Longmont more are pulling the trigger and ing most of the attention from 15 Microsoft Corp. 0 Disc Drive, Land $1,083,400 signing new leases, she said. investors, said Terry Kruegel of Longmont But gradually the market is Kruegel Commercial Real Estate. 16 Full Throttle Holdings 205 3rd Ave., Auto garage $1,000,000 Longmont Longmont swinging back toward equilibrium, He did note more tenants seem 17 Shepherds Community 505 Courtney Way, Flex $995,000 she said. interested in buying their buildings Church Lafayette Chad Henry, director of leasing and becoming owner-users. 18 Triple Shires LLC 2839 11th St., N/A $650,000 and marketing for W.W. Reynolds Despite the signs of optimism Boulder Cos., said tenants in his company’s a jobless recovery or double-dip 19 D1EEE LLC 2490 Cana Court, N/A $595,000 properties are looking to expand. recession could hurt the market, Lafayette “Many tenants are now consider- said Eric Rutherford, a commercial 20 Iyengar Yoga Shala LLC 2575 Pearl St. No. 320, Commercial condo $575,100 ing expanding their space. In terms broker with Wright Kingdom Real Boulder of increasing rental rates, we are in Estate. Source: Boulder and Broomfield counties public records 13A13A 13A

Boulder County Business Report | www.bcbr.com May 27 - June 9, 2011 | 13A Camera buildings ﬁlling up with tenants Plans to demolish buildings, redevelop site not deterring startup companies BY MICHAEL DAVIDSON [email protected]

BOULDER — A venerable downtown landmark is getting an unex- pected makeover from some of Boul- der’s fastest-growing startups. Tech startups and an organic food distributor have taken over the former home of the Daily Camera newspaper. The paper, which was based at the corner of Pearl and 11th streets for 120 years, moved out in January, leaving behind two buildings that are rapidly filling up with startups large and small. Despite short-term leases and MICHAEL DAVIDSON not much money to refurbish the Mile High Organics’ employees Wendy Goldner, Karen Fienberg and Gretchen Heuberger are among the eight employees who work out of two buildings at 1048 Pearl St. and the company’s office at 1048 Pearl St. The organic food distributor moved into the former home of the Daily Camera newspaper in April. 1023 Walnut St., the new tenants are working to “reboot” the buildings 100 workers in about 40,000 square vened. building. In April it signed a lease and create a hub for innovative small feet, Robertson said. “The Daily Camera building really for most of the second floor of 1048 businesses, Trada founder and chief The building is Trada’s third office fell into our lap,” Robertson said. “The Pearl St. executive Niel Robertson said. since it launched in March 2010. The stars could not have been aligned The company is working to make Trada, an Internet startup that spe- company was committed to staying more perfectly.” the building home, renaming it “the cializes in pay-per-click advertising, downtown, but finding a space was Trada moved into 1023 Walnut St. Trada Building,” even if employees is the largest tenant. It employs about a headache, until good fortune inter- in October and occupies the entire ➤ See Tenants, 17A

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14A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com business report RESIDENTIALIifjjZfdd`jj`fej :fdgXep jXc\j Zcfj\[ )'(' Ef%f]Zlii\ekc`jkè^j G\ijfeèZ_Xi^\ 8[[i\jj )'(' )'(' Ef%f]=Kc`Z\ej\[ 8m\iX^\gi`Z\ P\Xi]fle[\[ I8EB G_fe\&=Xo )''0 )''0 X^\ekj I\]\iiXce\knfib N\Yj`k\ I<&D8OF=9FLC;< B ,+0#/--#.-+ (#/+, E&8 +-+ :_i`jDp^Xkk#:FF#Gi\j`[\ek ) ).'':Xepfe9cm[%#Jl`k\)'' )*'#0(0#*/' -), )*) ,+*#/*+ (0'- 9flc[\i#:F/'*') P\j nnn%ZfcfiX[f_fd\j%Zfd *'*$++0$,'''&*'*$++0$-0-0 I<&D8O8CC@8E:< */+#-((#+*( (#)), 0#,-/#0'- +/- >i\^Jd`k_#DXeX^è^9ifb\i * +..'9Xj\cè\IfX[#Jl`k\)'' */+#-((#+*( (#+(' ((' */.#+.( (0/+ 9flc[\i#:F/'*'* P\j nnn%_fd\jèZfcfiX[f%Zfd *'*$+00$0//'&*'*$+00$(.,, NI@>?KB@E>;FDI<8C\e\iXcDXeX^\i 9flc[\i#:F/'*'( C\X[èÎ\XcI<8KFF;8:I<:F% (',#()0#,-0 (+0 E&8 /) 9`cc>ff[XZi\#Fne\i - )+,'9ifX[nXp .,#,,+#.+- ()- )+ (#(+'#)+0 K`d>ff[XZi\#Fne\i 9flc[\i#:F/'*'+$+('0 P\j B\eIfk_#DXeX^è^9ifb\i *'*$++0$*+*+&*'*$++0$*,,, (0.+ nnn%^ff[XZi\gifg\ik`\j%Zfd I<&D8O8CC@8E:< 0*#0),#-+0 *,. E&8 (*( IFLG8K:FC;N< C E&8 E&8 , E&8 (00- ).'':Xepfe9cm[%#Jl`k\)'' E&8 nnn%9\ieXi[Ì\XcX`cDfZb#9ifb\i&Fne\i (0 /),J%9ifX[nXp E&8 E&8 (- E&8 (0-, 9flc[\i#:F/'*', E&8 nnn%dfZbi\Xckp%Zfd *'*$+0+$+),'&E&8 JK8L=Xip:Xc[\ife#Fne\i )( ))0(8iXgX_f\8m\% E&8 E&8 / E&8 (0., 9flc[\i#:F/'*') E&8 nnn%XZZ\ekgifg\ik`\j%e\k *'*$++0$)0''&*'*$++0$+.+0 9FI>I<8CPI<8C

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Boulder County Business Report | www.bcbr.com May 27 - June 9, 2011 | 17A

TENANTS from 13A Commercial Vacancy Rates Tracked by Xceligent Inc. occasionally slip up and use the for- its existing state had such a positive First quarter 2011 mer name. Trada has spruced the response from local small businesses,” office up, building a gym and a yoga Canto said. “Was it planned? No. Type Total Vacant Vacancy (sq. ft.) (sq. ft) Rate studio and has hosted events like You can’t plan these great synergies,” Boulder Startup Week’s opening Canto said. night party. Karlin spent $9 million to buy Boulder The company also has plans to hire the property and intends to demol- Office 8,234,604 865,849 10.5% up to 50 more employees by the end ish the buildings to make way for a Flex 5,761,981 453,783 7.9% of the year, Robertson said. new development. It did not want Industrial 4,127,611 210,040 5.1% to invest a lot of money refurbishing Broomfield Leaving a mark the building and all leases had to be Office 2,883,534 483,916 16.8% Robertson hopes his company can short term. Flex 1,565,265 205,998 13.2% leave a lasting mark on Boulder’s Those conditions would scare away Industrial 3,175,637 366,733 11.5% downtown, even if Trada eventu- other companies but are ideal for ally has to leave its current home. small companies, Joseph said.“This Lafayette He wants to help make Boulder space only makes sense for fast-grow- Office 231,204 13,777 6.0% more open to businesses that want to ing startups.” Flex 907,162 138,503 15.3% expand downtown. Industrial 707,043 18,200 2.6% “We want to change downtown Plenty of interest Boulder’s perspective on what com- Interest from potential tenants was Longmont mercial tenants can do,” Robertson not a surprise for Lynda Gibbons, Office 1,139,529 129,521 11.4% said. president and managing broker of Flex 9,377,187 520,823 5.6% “We have an opportunity to build Gibbons-White Inc., which lists the Industrial 6,169,663 791,417 12.8% a really thriving downtown that’s property. thriving during the day, not just the Finding tenants drawn to down- Louisville evenings and weekends,” he said. town Boulder’s energy is easy, Gib- Office 962,336 153,762 16.0% Trada’s neighbor is Melonhead bons said. There also are plenty of Flex 2,848,351 460,787 16.2% LLC, dba Mile High Organics, leases companies looking for good space that Industrial 2,036,514 56,104 2.8% what used to be the Daily Camera’s do not want to be locked into long- executive suite on the second floor of term commitments. Superior 1048 Pearl St. “Boulder is filled with companies Office 184,009 48,886 26.6% Currently eight employees work that are growing fast and are OK in the 1,750-square-foot suite, but with short-term leases,” Gibbons Total the company is looking to add two said. Office 13,635,216 1,695,711 12.4% employees and could squeeze a few What is unique about 1048 Pearl Flex 20,459,946 1,779,894 8.7% more in its suite, CEO Michael Joseph St. is that it is one of the few places Industrial 16,216,468 1,442,494 8.9% said. downtown where startups can get Buildings larger than 20,000 square feet Joseph said being downtown helps that type of deal. Tracked by CB Richard Ellis him stay in touch with other entre- Rental rates are less costly than First quarter 2011 preneurs, and the results are profes- other downtown spaces. As of May Type Total Vacant Vacancy sionally and personally beneficial. 24, Gibbons-White had listed three (sq. ft.) (sq. ft) Rate “It’s kind of like the dorms, in terms units. The largest, a 6,500-square- Boulder of people sharing ideas and having fun foot office, could be had for $2,000 Office 5,525,211 640,924 11.6% with each other,” Joseph said. per month. Industrial 14,129,199 1,766,150 12.5% The building’s newest tenant is Potential tenants are looking at Longmont Office 974,909 127,713 13.1% Spot Influence LLC, an Internet those spaces, Gibbons said. Industrial 6,088,275 1,035,007 17.0% startup that gathers and sells data culled from social media sites and Plans move forward Buildings larger than 10,000 square feet, excluding government, medical and single tenant owner buildings networks. Karlin’s redevelopment plans The company is a TechStars 2010 continue to move forward, although Tracked by economic developers graduate, and stayed in the TechStars Canto did not give a target date for the First quarter 2011 “bunker” as long as it could before project’s completion. Karlin hopes to Type Total Vacant Vacancy having to make way for the Class of have a concept review with the Boul- (sq. ft.) (sq. ft) Rate 2011, cofounder Rich Grote said. der Planning Board in June, Canto Broomfield Spot Influence has four employees, said. Office 6,270,891 1,018,393 16.2% but only two work in Boulder. Its Redeveloping the former Daily Industrial and Flex 4,892,220 680,019 13.9% office is less than 600 square feet and Camera buildings is the first project Source: Broomfield Economic Development Corp. its chief selling points are its location, of its type that Karlin had attempted, low rent and its large window that and the company wants to make sure Longmont Office, flex and industrial 8,568,202 1,218,612 14.2% looks out onto Pearl St., Grote said. it gets its marquee project right.

Grote said 1048 Pearl St. has the “These things take time and we Source: Longmont Area Economic Council makings of a perfect tech incubator. need to do it the right way,” Canto (includes city of Longmont plus surrounding unincorporated areas of Boulder and Weld counties). “I would love to see a lot more com- said. “This is the biggest deal we panies in this space,” Grote said. have.” During the winter, the company Surprised but happy hosted a series of community open The buildings’ owner, Los Ange- houses at the building to get input les-based Karlin Real Estate, is happy from Boulder residents, and it has if somewhat surprised about how easy met with city and business leaders We have what you it has been to ﬁnd quality tenants. to try to develop a vision for the “They’ve been great tenants, and property. we enjoy having them there,” said “There are so many ideas, we’re need to succeed! Vicky Canto, the company’s vice just trying to hone it down to the right president of development and acqui- one,” Canto said. sition. Architects Christopher Shears of The property’s emergence as an Shears-Adkins-Rockmore Architects improvised startup incubator was not LLC and David Tryba of David Owen something Karlin foresaw. www.BCBR.com Tryba Architects are the co-lead “We were thrilled the building in architects working on the project. 18A 18A18A

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Boulder County Business Report | www.bcbr.com May 27 - June 9, 2011 | 19A

THE EDGE | BCBR.COM Startups, investors and intellectual property etting a startup off the ground position in the market, a competi- a company’s intellectual assets. A ideas expressed do not explicitly infringe is daunting. For most, suc- tive advantage can take many forms. better approach is to seek protec- another company’s rights. Second, a Gcess rides not on an inspiring These include being first in an indus- tion commensurate with an overall startup’s IP may be viewed by a larger business model, impressive pedigrees try, having a strategic alliance, and IP strategy. company as a subset or compliment of a or even jaw-dropping technology, having access to a significant and Software, for example, can best be larger solution. Investors recognize IP’s but rather a startup’s ability to raise necessary capital infrastructure. If protected by a combination of patents, appeal to larger companies and thus are capital. properly managed and developed, a copyrights and trade secrets that form keen to ensure that the return on their There are many factors that weigh company’s competitive advantage can a formidable competitive advantage. investment is maximized. heavily in determining whether a be increased by IP. Investors want to see a reasonable Time and money are in short sup- startup will walk out of a meeting Many compa- and thoughtful IP strategy aligned ply for any startup and it’s no surprise with funding, but two stand out: nies understand with a startup’s business strategy, that the cost of gaining IP protection a world-class management team that IP is impor- business model and target market is a significant concern. But the focus and the existence of a competitive tant for ensuring in order to maximize competitive should be on the IP’s value or poten- advantage. long-term suc- advantage and value. tial return on investment. Budgets By any measure there are vast cess, and many For instance, the pharmaceutical and milestones for IP investments can resources ready to be invested in new, startups are and biotechnology industries strong- be used to help a startup determine innovative companies, but access to quick in the early ly rely on patent protection because how to best craft an IP approach that that wealth is as difficult as ever. stages to try to many of their products require a sig- yields the highest return. Investors have rediscovered that care- GUEST OPINION capture as much nificant capital expenditure and can Just as it takes careful thought fully thought out due diligence is not Michael Martensen as they can. Few, be readily reverse engineered once to pull together the right group of only wise, but also necessary if they however, take the released into the market. Investors individuals who can take an idea are to maintain credibility and suc- time to carefully also want to know that the startup and turn it into a successful venture, cess. Undeniably the composition and structure an IP strategy that will cre- has done its homework by scouring it also takes thought to develop a capability of the startup’s manage- ate value. the patent and trademark databases to company’s competitive advantage. ment team is a critical step in gaining How should investors determine understand and appreciate the prior A startup that has successfully built investors’ confidence. But once the whether or not to invest in IP? One art landscape. a great management team and iden- team is in place, the startup’s next way is to consider how IP will be Even though obtaining IP may tified its sustainable competitive hurdle is to demonstrate a sustainable viewed if the startup is acquired by appear to bring little value to a startup, advantage including the appropriate competitive advantage, which trans- a large company or assessed in the to a larger firm interested in a potential use of IP is likely to gain the attention lates into value for investors. public capital markets. acquisition its value may be tremen- of many investors. One way for startups to accom- Protecting technology is not lim- dous. Large companies are hesitant to plish this is by securing intellectual ited to any one form of IP, and no acquire a company that has not sought Michael Martensen of Gregorgy & Mar- property that covers the underlying one form of IP is better than the industry-specific IP protection. There tensen LLP in Colorado Springs special- technology. While patents offer some other. In fact, relying on a single are two reasons why this is so. First, the izes in intellectual property matters. level of assurance that a startup has form of IP is almost always an insuf- approval of the applicable governing He can be reached at 719-358-2182 or developed a unique and protected ficient means by which to protect body provides some comfort that the [email protected].

ZOOM from 3A awards Broomfield-based Vail Resort Inc.s’ EpicMix website and app earned a People’s Voice Webby award in the doesn’t pass the mandatory evalua- “Experimental and Innovation” category for mobile tion because of problem behaviors, THE OPEN GYM devices. Founded in 1996, the Webbys are presented by private gym rentals are available for The International Academy of Digital Arts and Sciences. $20 for 30 minutes. “It’s like having accommodates up to three dogs at a time and gives owners Colorado Preservation Inc. honored the Colorado your own private dog park,” Johnson Chautauqua Association in Boulder with a 2011 and their dogs the opportunity to play on Zoom Room’s agility State Honor Award for its leadership in environmental said. sustainability and the historic preservation of the 113- Zoom Room Longmont marks equipment. year-old Colorado Chautauqua. the fifth franchise of the company RoxAnn Mack, a paralegal in law firm Faegre & Ben- founded in Hollywood, California in son’s office in Boulder, received the Colorado Bar Asso- 2009. The Longmont site celebrated ciation’s 2011 Pro Bono Paralegal of the Year award. The award is presented to an individual who demonstrates its grand opening May 7. destructive behaviors. explained. “Teaching is based on each outstanding commitment to pro bono community ser- In addition to putting on a The Hound Lounge provides a dog’s level.” vice that benefits underserved populations. catered people/puppy party, John- space for patrons waiting for classes Those skills range from learning to Louisville-based KGA|Studio Architects received a son donated $10 to the Longmont — complete with complimentary cof- sit and stay and how to get through Chrysalis Award, a national award presented by Quali- fied Remodeler. The national award is in the category of Humane Society for every person fee and beverages. the obstacle course to how to turn on Addition Over $250K. KGA/Studio was the regional win- who said they were coming to the To further feed the dog-human light switches. ner for a Whole House Remodel from $500K to $1 Million grand opening. The total donation bond, Zoom Room provides birth- The franchise fee for a Zoom Room category. KGA won a Chrysalis Award in 2005 for Best topped $500. day parties. For two hours, you can is $35,000. Depending on where one Design/Build Whole House Remodel over $500K. Johnson is ramping up the services celebrate with a miniagility lesson, a is opened, space build-out and retail The Colorado Ambulatory Surgery Center Association awarded its Circle of Excellence Award for Corporate and products available at her location laser light show and doggie disco that equipment brings the startup cost to Leadership to Boulder Associates. This award in manageable stages. She started by gets both dogs and their people danc- somewhere between $96,000 and recognizes companies for their exemplary support offering two classes at multiple times ing. Basic rental for two hours runs $180,000, according to Johnson, who of the ASC industry in Colorado. CASCA chose Boulder Associates for this award based, in part, for — obedience and agility training 1. $150 for up to 10 dogs. secured funds from a private inves- its innovations in environmental design of ASCs and Additional classes are coming avail- “We can do add-ons too,” Johnson tor. other health-care buildings and structures. able monthly. said, referring to catering and gift The franchise cost includes hands- Ken desGarennes, chief financial officer of Louisville- After a year, she expects to offer bags. on and online training, marketing based Zayo Group, was recognized by the Denver 18 different types of classes, including Group training classes meet for assistance, phone consultations and Business Journal as CFO of the Year. The CFO awards are given to financial professionals in the Denver therapy dog training. six weeks for $150. Private agility yearly meetings that teach new cur- region for outstanding performance in their roles as Retail products available at Zoom classes run $50 for 30 minutes, and riculum. corporate financial stewards. Room include supplements, all natu- additional private training is available “I’m aiming for $50,000 to Gordon Gray, career services manager for the YWCA ral flea and tick spray, BPA-free water for $95 an hour. $100,000 revenue in the upcoming of Boulder County, received the 2011 Rich Feller Award from his peers in the Colorado Career Develop- bottles and what Johnson calls solu- “Dogs acquire about six to 10 skills one- to three-year period,” Johnson ment Association for his commitment to excellence in tion-oriented toys that help dogs curb depending on the class,” Johnson said. career development. 20A 20A20A

20A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com Home loan, refinancing activity on rise in assets. Self-employed folks may still have done nationwide, said Greg Osborne, Number of applications Hall did not give specifics about problems getting a residential mort- regional vice president of Wells Fargo up at national branches what percent of the total was refi- gage approval, however, Hall said, and Home Mortgage in Denver. Wells nanced mortgages and what percent more customers are coming to the Fargo is predicting that its national e keep hearing how was new mort- table with 20 percent to put down on mortgage market in 2011 will contract tough it is these days to gages to buy the purchase of a home. slightly to $1 trillion in loans from get a home mortgage. homes. Chase Bank branches in the Boul- $1.55 trillion in 2010, Osborne said. Federal requirements Boulder Coun- der-Broomfield area have seen a 147 The bank did not release specific num- Whave tightened, bankers are more con- ty’s mortgage percent increase in mortgage applica- bers for the number of mortgages it has servative in who they’ll lend to these market remains tions so far in 2011 over the same four done in the Boulder County region. days after getting burned in the 2008 strong because months in 2010, and a 154 percent The national market was expected mortgage debacle, and the lackluster the area is such a increase in approvals, said Ron Ker- to contract because interest rates economy often makes potential hom- nice place to live shner, lending manager for the Metro spiked late last year and were expect- eowners more cautious. BANK NOTES and work, Hall North region of the bank, whose ed to continue to rise through 2011, But there’s a lot more going on Beth Potter said. In addition, office is based in Westminster. Osborne said. In the last 30 days, behind the scenes than meets the eye. bankers are work- Refinancing is a strong piece of that however, rates have dropped again, Numerous homeowners in Boul- ing hard to market the products they uptick, in part pushed by the gov- creating a “pleasant surprise,” for buy- der County refinanced their existing have, since the bank came through ernment-sponsored “Making Home ers, refinancers and bankers, he said. mortgages in 2010 and the first four the most recent financial crisis with Affordable” program in which a cus- Osborne attributed the most recent months of this year to take advantage flying colors and is well-capitalized, tomer is current on mortgage payments rate drop to the federal government’s of lower interest rates. compared to some other banks in the but owes more than the home is worth. second “quantitative easing” program, In addition, general mortgage lend- region. Chase can help a customer get a 125 from which banks set their own inter- ing also appears to be on the rise at Investors also are looking for new percent loan-to-value mortgage under est rates. the local branches of three national units to buy, since a general shortage the federal program, Kershner said. Most homebuyers applying for banks — FirstBank Corp. (based in of rentals has pushed up rents in the In general, as much as 90 percent mortgages these days have good credit Lakewood, but with seven locations county and across the metro area. of Chase’s regional business is from scores and modest down payments in and around Boulder); Wells Fargo “From an investor perspective, we customers refinancing mortgages, he — and they should definitely be able Bank, with 14 local branches, and keep hearing that vacancies are down said. to get financing, he said. Osborne is Chase Bank, with 12 branches. and rentals are going up. That’s a big Chase hired two new loan officers extremely bullish on the current real At FirstBank’s local branches, so piece of the market from where I sit,” in the last year to work in its biggest estate market, which presents huge far in 2011, both refinanced mortgage Hall said. downtown Boulder branch, which opportunities to those who can afford and purchase mortgage business is In simple terms, if a FirstBank also could have helped create the to take advantage of it, he said. going gangbusters — about $20 mil- mortgage officer gives a customer uptick in business, Kershner said. “It’s a fortuitous time — a buyer’s lion, or almost triple the $7 million a “yes,” the loan will close, he said. “It does seem like things continue market, and a good one,” Osborne in mortgages made in the first four Summer is a traditionally busy time of to increase from a volume stand- said. months of 2010, said Jim Hall, mar- year for both residential Realtors and point,” Kershner said. ket president of the Boulder region, mortgage brokers, and this year will At Wells Fargo, low interest rates Beth Potter can be reached at 303- which handles about $600 million be no different, Hall predicts. also drove the number of mortgages 630-1944 or email [email protected]. on the job product update positions at Free Range Geeks, McDonald as director of customer and John Meteer Intercambio de Comunidades as channel sales manager. Colamonico has 25 years and the Geological Society of experience in business development and OEM sales America. She also was a Boulder for multinational companies. McDonald has 25 years city councilor from 2007 to 2009. of management experience in new technology intro- ductions, customer service and training; and Meteer EDUCATION has experience building sales channels for startups. Fischer Haubert- Sinclair Vowell The Institute of Business & Medi- Boulder-based Symplified Inc. hired Andrew Evans as Halsey cal Careers Inc. hired Amy Vowell as ajunct instructor to the IBMC chief financial officer. Evans has more than 20 years of financial management experience, including 15 years ARCHITECTURE, CONSTRUCTION School of Massage and Healing Arts at the Longmont campus. IBMC’s Therapeutic Massage Program working with venture-backed technology firms. COURTESY ALBEO TECHNOLOGIES INC. David McMahon has been chosen to head the provides students with an education that enables Boulder-based Albeo Technologies Inc.’s new Colorado branch of Pete Fowler Construction Lisa Fischer has joined Pedal to Properties in Boulder them to navigate the field of massage therapy, includ- new H-Series LED High Bay lighting sys- Services Inc. McMahon’s 30 years of experience ing therapeutic and medical courses. as a broker associate. Fischer has lived in Boulder includes the development and construction of custom since 2001, and been involved in real estate as a real tem delivers more than 50,000 lumens (a and semi-custom single-family homes, condominium HEALTH CARE estate coach for seven years. She has a master’s units, historically renovated properties and commer- measure of the power of light perceived Louisville-based Balfour Senior Living, a provider of degree in counseling and psychological services and cial projects. The office is at 75 Manhattan Drive, No. by the human eye) at 100 lumens per watt. hospitality, health-care services and housing options a bachelor’s degree from the University of Montana. 10 in Boulder. Phone is 303-554-0381. for older adults, named Cheryl Davis executive The amount of light is a new benchmark in director of The Lodge and The Residences at Balfour. Christine Mollenkopf joined Estey Realty Group the lighting industry. The lighting system is BANKING, FINANCE in Boulder. She is a broker associate specializing in Davis has more than 13 years of experience as an designed for general lighting applications. Boulder-based Elevations Credit Union named Car- operational leader in the senior-living industry. Davis residential real estate. Mollenkopf has experience in roll Beach as chairman of the board replacing Eric previously was executive director at MacKenzie real estate and corporate management. Boulder-based Splick-it launched a mobile order and Jones for served as chairman for the past three years. Place, a senior-living community in Colorado Springs. payment app for Lenny’s Sub Shop. Mobile ordering Jones will remain on the board as its immediate past She also has held executive jobs at Atria Senior Living Debbie Haubert-Halsey joined Wright Kingdom Real will be available at all 150 Lenny’s restaurants using chairman. Also, longtime Elevations’ volunteer Jim Group and Atria Vista Del Rio. Estate in Longmont. Haubert-Halsey’s background is either an iPhone or Android phone. The restaurant Menghi was named secretary/treasurer of the board. in sales and marketing. apps let customers preorder and pay for their meal, Menghi had been servings as the board’s first vice Boulder-based Novella Clinical Inc., a contract then simply walk in to Lenny’s, grab their food and chairman. Beach recently retired as president/chief research firm for the medical device industry, hired INSURANCE go. Splick-it has launched 10 branded apps to date operating officer of CO-OP Shared Branching, follow- Eric Distad as associate director for project manage- Alliant National Title Insurance Co. in Longmont, a for restaurants and coffee shops. ing a three-year tenure as president of Credit Union ment, medical device and diagnostics, and Cynthia title insurance underwriter, hired David Sinclair as the Service Corp. Weaver as senior project manager. firm’s CIO. Sinclair has more than 20 years experience Boulder-based Spectra Logic Corp. is offering the in information technology leadership. IBM TS1140 Tape Drive with its enterprises class Boulder-based Crestone Capital Advisors LLC, an HIGH TECH T-Finity tape library. independent wealth-management firm, named Jen- Louisville-based Coalfire Systems Inc. hired John MANUFACTURING nifer Hardy as chief compliance officer. Hardy joined Boulder-based Gnip Inc., a provider of social media data, Rostern as managing director of its office in New York. Broomfield-based Ball Corp.(NYSE: BLL) announced upgraded it premium Twitter feed data offerings with Crestone Capital Advisors in 2006 and most recently Rostern will oversee Coalfire’s services to the 200-plus that David A. Westerlund, executive vice president, served as the firm’s senior securities administrator. Klout Scores and language filtering. With Klout Scores, clients in the Northeast, and lead the company’s efforts administration, and corporate secretary, will retire tweets are scored 1 to100 with higher scores represent- Hardy is responsible for managing the firm’s statutory to expand its presence throughout the East Coast. He later this year. Westerlund, 60, will conclude a 36-year and regulatory compliance matters as well as broker ing a wider and stronger sphere of influence. Language has 29 years of experience in IT, information security career with Ball. filtering categories tweets into specific languages. dealer operations. and technology risk management. Deadline to submit items for On the Job is three Boulder-based Occipital LLC launched 360VERSE. ECONOMIC DEVELOPMENT Boulder-based BlipSnips hired Derek Greentree as weeks prior to publication of each biweekly issue. com, a free community-powered website that pro- The Boulder Chamber hired Angelique Espinoza as chief technology officer. Greentree previously was a Mail to Editor, Boulder County Business Report, 3180 vides a virtual tour of places around the world via 360- public affairs manager, replacing Dan Powers, who software architect and engineer for Lijit Networks. Sterling Circle, Suite 201, Boulder, CO 80301; fax to degree imagery. It also launched 360 Panorama 4.0, held the position since 2004 and left the organization 303-440-8954; or e-mail to [email protected] with On a mobile app. The new version enhances panoramas last month for a position with Western Disposal in Boulder-based Radish Systems LLC hired Thomas the Job in the subject line. Photos submitted will not using Occipitals servers to provide redesigned user Boulder. Espinoza, a longtime chamber member, held Colamonico as vice president of sales, Jackie be returned. interface, user profiles and Facebook support. 21A

Boulder County Business Report | www.bcbr.com May 27 - June 9, 2011 | 21A

SUMMIT from 11A you moving backwards?” Lee asked part of the public is handicapping the Renewable Energy Laboratory to expe- neurs themselves can do. rhetorically. “Boulder stood still, and clean-energy industry, according to dite the energy industries of the 21st Incubators, state and local eco- I personally benefitted from that.” industry leaders who spoke at a break- century by advancing renewable energy nomic development agencies, research Lee’s comments followed a call out session devoted to the industry at research, engineering and analysis. institutes and investors “are very, very from Frank Hugelmeyer, president the Boulder Economic Summit. The indifference comes despite important inputs into the entrepre- of the Outdoor Industry Association, While the industry benefits from stakes that will transform society, neurial community, but the commu- to “move with purpose” to keep the Boulder’s entrepreneurial energy, the he said. nity has to be led by entrepreneurs.” region’s unofficial mantle as the global nature of the industry is different “The planet is now getting ready The efforts of local governments leader of the outdoor lifestyle. enough that it does not benefit from to undergo an energy transforma- can foster collaboration among entre- “The reason our global leading the “entrepreneurial ecosystem” in tion that will go on through the end preneurs and facilitate communication association is based here is because the same way smaller companies do. of this century,” Knoteck said. The between industries, but building high- we’re considered the lifestyle of the Investment is a major issue, said changes will “encompass every aspect growth companies that create jobs can world. American brands are the envy Alfred “Buz” Brown, chief executive of national policy and the national only be achieved by entrepreneurs, of the lifestyle of the world,” Hugel- of Ion Engineering in Boulder. economy,” he said. Feld said. meyer said. Venture capitalists are able to sup- — Michael Davidson Boulder is fortunate in that it has Historically, outdoor companies port software or IT startups because a high per capita density of entrepre- like Holubar Mountaineering, Sierra they can launch with only a few mil- Feld: lead, be active neurs, many of whom have the neces- Designs, Neptune Mountaineering lion dollars up front and are not devel- BOULDER — Entrepreneurs need sary long-term outlooks that help them and Lowe Alpine became synony- oping capital intensive technology. to get involved in their communities “blast through” economic slumps, Feld mous with the Boulder mystique. Clean-tech companies that have and become active leaders if com- said. The university also creates a These days, brand-names such as Spy- extended research and development munities are to reach their economic steady supply of “fresh meat” to refresh der, Skirt Sports and Kelty have been cycles and build projects on an indus- promise, local entrepreneur and ven- and reinvigorate the community. added to the mix, said Chris Hazlitt, trial scale operate in a different world, ture capital investor Brad Feld said The city does face a challenge of a partner at Holme Roberts & Owen and investors seeking quick rewards during a keynote speech at the Boulder managing growth. Companies that need who handles the legal issues of many are passing on the industry, said Tim Economic Summit. space for new employees have to weigh local startup companies. Enwall, founder of Tendril Networks Feld, a serial entrepreneur, manag- the need for space and the possibility of — Beth Potter Inc. in Boulder. ing director of the Foundry Group leaving Boulder with the risk of losing The public also is somewhat indif- venture capital firm and a cofounder “the magic” that arises from the city’s Investment and clean tech ferent to clean tech because, in the U.S. of the TechStars startup accelera- character and entrepreneurial density. BOULDER — A lack of investors at least, energy from fossil fuels is cheap tor, said that while governments and “This is a city that was built on capable of covering the upfront costs and abundant, said Michael Knoteck, universities can bring entrepreneurs counterculture, this is a city built on it takes to develop clean-energy tech- CU-RASEI, a joint institute of the Uni- together, creating a sustainable com- independent thought,” Feld said. nology and a lack of urgency on the versity of Colorado and the National munity is something only entrepre- — Michael Davidson

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22A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com LONGMONT BUSINESS | BCBR.COM 23A | Woodcarver caters to executives Marketing campaign on tap for downtown

BY BETH POTTER [email protected]

LONGMONT — City of Long- mont officials plan to spend up to $50,000 to hire a recruiter to market its historic Main Street district in the coming year. The retail consultant would meet with commercial real estate brokers and potential downtown tenants. He or she also would do things like put together a MICHAEL MYERS “state of the retail market” review and Vivek Nagabhushan, left, project engineer, and Ron Hayes, chief engineer, display one of New York-based Honeybee Robotics Space- hold two business community breakfasts craft Mechanisms Corp.’s gyroscopes at the company’s engineering center in Longmont. to encourage new downtown tenants to move in, according to a plan given to city council members on May 10. “We’re looking for ways to make Honeybee Robotics focuses the area more market- able,” said Brad Power, director of Longmont’s economic develop- on engineering for aerospace ment department, which would pay the BY LYLA D. HAMILTON Honeybee first established a pres- recruiter. Honeybee Robotics Space- [email protected] ence in Colorado about three years Downtown cur- McKee ago when it hired Ron Hayes, who craft Mechanisms Corp rently has a 9 percent LONGMONT — Honeybee declined to leave the Front Range 515 Kimbark St., Suite 107 vacancy rate within Robotics Spacecraft Mechanisms for the Big Apple. Now chief engi- Longmont, CO 80501 the boundaries of the Corp., a New York-based special- neering officer, Hayes is among the 720-340-4491 Longmont Down- ist subcontractor for the aerospace company’s three employees in Long- www.honeybeerobotics.com town Development industry, including NASA’s Mars mont. There are currently openings Privately held Authority, according Erik Mumm, vice president and director, missions, recently opened an office for a senior mechanical engineer as flight systems, based in Longmont to CoStar Group, a Power in Longmont. well as an electrical engineer cross- Employees: 40 (three in Longmont) commercial real estate Erik Mumm, vice president, direc- trained in electrical design. Primary service: robotics for aerospace, information company. tor of flight systems and leader of the Mumm, who recently moved to defense and commercial applications The district is paid for through tax- new unit, said it focuses on engineer- Colorado from Honeybee’s corpo- Founded: 1983 increment financing — a mechanism ing and program management for rate office, said, “We like it here and that generally collects revenue from a “things that move on a spacecraft”— we’re committed to working with rise in property taxes generated from or, more formally, robotics for flight the aerospace community on the analysis. A NASA statement noted businesses. systems. The local group’s capabili- Front Range. We see great possibili- as a key difference between Curios- The district’s website lists 35 prop- ties include systems engineering and ties for growth.” ity and its predecessors the fact that erties available for sale or lease. Its mechanical design as well as electrical Mumm anticipates deepening the new rover “carries equipment boundaries are First Street to the and electronics design. the company’s relationships with to gather samples of rocks and soil, south, Longs Peak Avenue to the Vickie Lee, representing the the University of Colorado-Boulder process them and distribute them north, Pratt Street to the west and Colorado Space Coalition, an eco- and the Colorado School of Mines. to onboard test chambers inside Martin street to the east. nomic development organization, Founded in 1983, Honeybee won analytical instruments.” The recruiter plan comes just after applauded Honeybee’s decision to the first of its more than 100 NASA The other Mars Laboratory com- a recent $15,000 Arts and Entertain- set up shop in Longmont. contracts in 1986. It now works ponent derives from Honeybee’s ment District strategic report earlier “The state has a wealth of com- with nine of NASA’s 11 centers and Rock Abrasion Tool, designed and this year and a $3.7 million, three- panies working in both civilian and has supplied components for three developed for the 2003 Mars Explo- year alleyscape plan to spruce up military aspects of aerospace,” she Mars missions. ration Rovers. It removes the dust areas behind stores between Third said. “Having a robotics company The Longmont team recently layer to allow subsurface sampling. and Sixth avenues on Main Street. here is particularly exciting because delivered two key components of The original version of the tool was In addition, the Longmont Down- of the importance of this technol- NASA’s Mars Science Laboratory, a the first to penetrate rocks on plan- town Development Authority hired ogy in deep space exploration.” mission to determine the habitabil- ets other than Earth. Kimberlee McKee to be its new direc- The Coalition says Colorado is the ity of the red planet. For the new The Mars Science Laboratory is tor in a $100,000-a-year job. She nation’s third-largest aerospace econ- rover, Curiosity, Honeybee designed scheduled to launch in late 2011 and started on Feb. 7, six months after omy, with more than 400 companies and produced a robotic carousel to arrive on Mars in August 2012. The Mary Murphy-Bessler, former LDDA and suppliers active in the state. receive, store and deliver samples for ➤ See Aerospace, 24A executive director, stepped down to ➤ See Downtown, 25A 23A

Boulder County Business Report | www.bcbr.com May 27 - June 9, 2011 | 23A Woodcarver caters to business executives Sales rep makes career change to follow his passion

BY DYLAN OTTO KRIDER [email protected]

LONGMONT — David Monhol- len was making a comfortable living as a sales representative for pharmaceuticals, then a metal manufacturer when he was offered a big promotion that would require him to move his family from their Kentucky home. Instead, Monhollen chose to leave the corporate world to try his hand at starting a wood-carving business that has now been going for 28 years. “Woodcarving is my passion, ever since I was nine years old in the Cub Scouts and someone showed me how to make those neckerchief slides,” said Monhollen, who recently moved to Longmont. During his stint in Vietnam, he was called “The Carver,” due to the birds JONATHAN CASTNER he always crafted for the Vietnamese David Monhollen, a master woodcarver in Longmont, stands among some his carvings. Monhollen specialize in creating focal point pieces children. He was miserable where he for lobbies, boardrooms and personal ofﬁces that symbolically help business executives tell their story. was and had faith woodcarving was his calling. “We lost some dear friends who a go of it for two years. Within a year, formula. “We just really didn’t want to thought I lost my mind — and I did. But he was earning something comparable He started selling little pieces to move, so I was very supportive,” his I found my heart,” Monhollen said. to his salesman salary. But it took gift shops. wife, Carol, said of his decision. They had enough savings to make him a few months to ﬁnd the right ➤ See Woodcarver, 24A

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Dryden Dunsmore [email protected] 24A

24A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com

WOODCARVER from 23A

“I knew if I kept that up I’d destroy plexity. His carvings include doors to be replaced by desert landscaping my hands like I would if I worked at a wall murals, mantels, crosses, desks because, as he puts it, “God waters factory, so I said hey, stick with what and just about anything else one can my lawn.” I offer a service — for you know,” he said. think of. He uses scrap wood so a tree is He’s always subscribed to the “I offer a service — for that passion never chopped down on his account, that passion to be able to business journals and read about to be able to survive I had to figure out such as linden, walnut and cherry des- the CEOs he used to deal with, and how could I market these. Showing at tined for the wood chipper, and wants survive I had to figure out decided he should do something for galleries is not my shtick,” he said. “I to start using the pine destroyed by how could I market these. them. So he called them and made love sitting down with the CEO of a the beetle infestation. the same pitch he uses today: “I’m a company and discuss their business Once the pieces are carved, they Showing at galleries is not master woodcarver, but I specialize — what their focus is.” Through the are sanded then finished either with in creating focal point pieces for lob- conversation, images start popping acrylic paint or a stain, such as Tru- my shtick. I love sitting bies, boardrooms and personal offices in his head. When he sees that look Oil Gun Stock finish for hardwood. down with the CEO of a that symbolically help them tell their in the client’s eyes, he sets up an He recently moved to Longmont story,” he said. appointment to show them some to be closer to his grandchildren, who company and discuss Now his pieces range anything sketches in a couple of weeks. live in Boulder, and has just started from a few thousand into the six fig- He’s always loved nature. His cars making cold calls to build up a local their business — what ures, depending on the size and com- are hybrids, and he let his lawn die customer base. their focus is. The secret to making a living doing what you love? One, be married to David Monhollen a fabulous helper. Two, have faith OWNER. you’re here for some reason other than just to make money. And three, MONHOLLEN CUSTOM WOOD CARVING just believing in what you’re doing in

® your heart. Rocky Mountain, REALTORS His wife does all the computer NUMBER ONE OFFICE FOR LONGMONT work, drafting press releases. “I don’t of the root wood, which has a very carve, and I don’t paint,” she said, nebulous, cloud-like grain pattern. AREA COMMERCIAL REAL ESTATE NEEDS but helps out with just about every- It took him 10 years cultivating a thing else. They’ve had their ups and relationship with a Japanese manu- Local representation for commercial sales downs, but always had food on the facturer of high-tech machine tools, table and were able to travel and meet showing them his craft, before he and leasing providing quick response time some fascinating people. “It was the finally got to pitch the board. The to service and show your properties. right decision.” company had a Kentucky office that “I’m not a designer of corporate called itself the “Other” Kentucky logos,” Monhollen said, and the CEOs Derby, and he made them a sculpture usually have something in mind, of three horses locked in a race, each whether they know it or not. It’s made of a different wood. usually a matter of bouncing ideas The company was so impressed back and forth until he finds it. His it decided to feature him and his carvings can range from stylized to work in its brochures, which they detailed, realistic carvings of eagles to felt exemplified the detail, care and Keith Bayne Don Mike show strength, power and soaring. Or craftsmanship they brought to their Kanemoto Gibson, CCIM Rulle, CCIM McDonough they can be abstract, polished pieces own high-precision pieces.

AEROSPACE from 22A

mission will last one Mars year or 23 sensors. Earth months. Honeybee conducts research and Honeybee’s Longmont location development projects for the U.S. offers the company ready access to its Department of Defense and private Jan Ken Ed John Cernuda Kanemoto, CCIM Kanemoto, CCIM Marlin Colorado customers, which include industry. Its commercial expertise Ball Aerospace & Technologies Corp. encompasses geotechnical and geo- in Boulder and Lockheed Martin chemical science as well as develop- Space Systems Co. in Littleton. ment of electromechanical systems Lockheed Martin is NASA’s prime for hostile environments. Industrial contractor for Orion, a deep space customers include international min- exploration craft. Honeybee devel- ing group Rio Tinto, power provider oped a component that will deploy Consolidated Edison Inc., IBM Corp. Orion’s solar arrays. and Siemens AG. Jerry Aaron In Longmont, Hayes led engineer- Mumm said the company’s name Schlagel Grant ing work on the electromechanical pays tribute to the productivity of • 10 Dedicated commercial brokers • Land Sales/Development device, which enables the solar arrays the honeybee and reflects the orga- to transmit power to the craft while nization’s focus on product develop- • 4 CCIM members • Commercial Sales tracking the sun. “You can’t just run ment. Privately held, Honeybee has • Available 7 days per week • Asset/Property Management wires to them,” he noted, “because 40 employees and expects revenue in • Tenant and Landlord • Market, Site and Financial they’re continually rotating.” A more the range of $8.5 million to $9 mil- Representation Analysis mundane version of this technology lion this year. transmits power to the lights on Ferris “We’ve been in the black for the SERVING BOULDER & SW WELD wheels, Hayes said. last six or seven years,” said Ellen Orion’s first flight test is scheduled McDermott, director of finance and COUNTIES FOR OVER in 2013. administration. “We’ve been investing 30 YEARS! In addition to the flight systems in growth by opening new offices.” Independently owned and operated. group, Honeybee has a division In addition to the Longmont office, focused on exploration technology, Honeybee recently opened its doors 275 S. Main St., Suite 100, Longmont, CO 80501 including drilling, excavation and in Pasadena, Calif., near the Jet Pro- 303-772-2222 •www.prudentialrockymountain.com geotechnical systems. The company’s pulsion Laboratory, home of the Mars staff also includes experts in optical Science Laboratory mission. 25A

Boulder County Business Report | www.bcbr.com May 27 - June 9, 2011 | 25A business digest OPENINGS Ballet Nouveau Colorado, received a 2011 Livings- announced that Austell Gas System, a natural gas distri- increase sales of Organic Vintners’ wines. ton Fellowship totaling $25,000 from the nonprofit bution company in Georgia, has implemented Aperta’s Solectria Renewables LLC, a photovoltaic inverter SERVICES manufacturer based in Lawrence, Massachusetts, Bonfils-Stanton Foundation. $20,000 will be used Visual Remittance and Payments Application, which opened a sales office in Louisville. John Shaw will oper- to enhance leadership skills, and $5,000 will support incorporates Parascript’s check and form recognition Boulder-based Benjamin West, a global purchasing ate the office from his home. Phone is 303-913-4656. related development activities. software. The software allows the automatic process- firm for furniture, fixtures and equipment and operating of payment stubs and checks, as well as charitable ing services and equipment for the hotel industry, Boulder-based Grandrabbit’s Toy Shoppe opened a Denver-based Bellco Credit Union will offer its clients donations from customers electing to give $1, $3 or $5 FF&E purchasing services on its 500th Marriott- 6,305-square-foot store at 14644 Orchard Parkway in discounted access to EstateLogic, an online toll for on top of their bill to a local nonprofit organization. branded property with the anticipated completion of the Orchard Town Center in Westminster. Grandrab- estate preparation developed by Louisville-based the multimillion -dollar refurbishment of the JW Marri- bit’s, founded and owned by Lynne Milot, has oper- Executor’s Resource Inc. Broomfield-based Level 3 Communications Inc. ott Desert Springs in Palm Desert, Calif. The company ated a specialty toy store in Boulder since 1977. EstateLogic is an online organizer that helps users (Nasdaq: LVLT) was selected by HBO to be a provider has been involved in the construction or refurbishment catalog and store legal documents like wills, tax returns of content delivery network services supporting the HBO of more than 100 Courtyards by Marriott, more than BRIEFS and birth certificates, and also personal information like GO mobile-app delivery initiative. The application, which 100 Fairfield Inns & Suites and more than 100 Resi- Boulder-based Catapult PR-IR, a public and investor photos, social media accounts and videos. The program launched on May 2, gives HBO subscribers access to dence Inns, in addition to numerous hotels under the relations firm for technology companies, was ranked also provides action plans, checklists and suggestions to HBO programming on their Apple, iPhone, iPad and flags of Springhill Suites, JW Marriott, Marriott Hotels, as Colorado’s top PR firm focused exclusively on help people personalize estate planning. Bellco members iPod touch as well as select Android devices. TownePlace Suites, Renaissance Hotels and more technology by O’Dwyer’s 2011 PR Firm Rankings will receive a discount on EstateLogic, and pay anywhere than a dozen Ritz-Carlton hotels. based on audited, annual net billings. This was the from $3.65 to $12.85 per month, a 20 percent discount. Boulder-based Transformance Advisors was hired fourth consecutive year that Catapult was recognized by Volvo Powertrain to assist with its lean manufactur- Boulder-based Pike Research launched its Energy with the top ranking for the technology sector, and it Purchasing and interior design firm Benjamin West in ing efforts within its engine and transmission facility in Management Advisory Service, a subscription-based ranked 43rd nationally among technology PR firms. Boulder has wrapped up work on its 500th Marriott- Hagerstown, Maryland. information tool that provides market intelligence and branded property — the JW Marriott Desert Springs strategy insights for companies seeking to more effi- Lafayette-based Aegis Analytical Corp., a provider in Palm Desert, California. The furniture, fixture and Boulder-based language service provider Lanza Lan- ciently manage the energy consumption of their own of manufacturing and process intelligence software, equipment project was part of a multimillion-dollar guage Inc. received a federal contract from the U.S. organizations, as well as those looking to leverage announced that Shire Pharmaceuticals, a biopharma- refurbishment of the hotel. Army Corp of Engineers to translate its 1,050-page information technologies and managed services for ceutical company, will deploy Aegis’ Discoverant as safety manual into Spanish. enterprise energy management applications. its data analysis, management and reporting solu- CONTRACTS VOCO Creative, a full-service marketing, brand tion for product scale-up and production. Shire will Boulder-based Continental Technologies LLC will Front Range Community College in Longmont will strategy and public relations firm located in Denver use Discoverant to help manage its relationships with build a lab to make jet biofuel for Avjet Biotech Inc. in offer a GED preparation class evenings and Satur- and Boulder, was hired by Denver-based White Girl contract manufacturing organizations by simplify- North Carolina. Terms of the deal were not disclosed. A days from May 31 to Aug. 8 that includes classroom Salsa and Golden-based Alpine Remediation. ing collaboration and data sharing. lab facility is to be built at North Carolina State University instruction and 24/7 online lessons. to integrate all of the school’s biofuel processing steps Boulder-based Organic Vintners, seller and importer Rockingham County, North Carolina selected data- Deadline to submit items for Business Digest is three into one facility. Continental will work on one scale of of wines made from 100 percent certified organi- storage equipment made by Longmont-based Dot Hill weeks prior to publication of each biweekly issue. Mail operation that produces about 20 liters of biofuel per cally grown grapes, has appointed Boulder-based Systems Corp. The county bought Dot Hill’s Assured- to Editor, Boulder County Business Report, 3180 Ster- hour; and another scale of operation that would generate Compass Natural as its public relations and com- SAN 3920 array, a commercial off-the-shelf storage ling Circle, Suite 201, Boulder, CO 80301-2338; fax 40,000 gallons per month as part of the agreement. munications agency of record. Compass Natural will system that scales to handle growing storage needs. to 303-440-8954; or e-mail to [email protected] with provide strategic marketing, communications and Longmont-based Parascript LLC, an image anal- Business Digest in the subject line. Photos submitted Garrett Ammon, artistic director of Broomfield-based ysis and pattern recognition technology provider, public relations to help further brand awareness and will not be returned.

DOWNTOWN from 22A move to Arizona. event downtown, 60 musicians signed the mall. Dillard’s department store is an outdoor carnival at the mall’s west McKee talks about the “momen- up to perform at Miller Music, drawing an anchor Twin Peaks Mall. parking lot from June 27 to July 10 tum,” of unique retailers downtown passers-by all evening. Events are important for malls, too, for the second year. And an Easter Egg who offer experiences to customers. “Community life tends to core as mall marketers try to build a sense of hunt brought 800 kids to the mall, said There’s Miller Music, at 464 Main St., down here,” said Miller Music presi- community with shoppers, Ginsborg Lori Giggey, the mall’s marketing and with music lessons, Crackpots Pottery dent Seth Miller, whose father Ken said. NewMark Merrill has planned specialty leasing manager. Studio at 501 Main St., which gives Miller started Miller Music in 1974. customers a chance to be artistic, and Pedestrian traffic has picked up after the Bead Lounge at 320 Main St. which dark, too, Miller said. “There’s a good holds classes, among others, she said. mix; we just need to fill in the gaps ® “There are a lot of synergies right and get more down here so there’s An ENERGY STAR new home now for our storefront businesses,” more of a critical mass,” McKee said. McKee said. “How do we package Retailers across the country are that together and incentivize and get trying to transform themselves into is a better built home people to invest in downtown?” “destination” experiences, said Jon Increase your client satisfaction. McKee said she also wants to Schallert, owner of The Schallert ENERGY STAR homes provide the home owner: “weigh in more” with property own- Group Inc., a retail consulting com- • Better comfort ers and leasing agents to find out if pany based in Longmont. • Healthier indoor air there are barriers to potential new Public art is important, Schallert • Enhanced durability Find an ENERGYSTAR tenants moving downtown. said. Building facades also are impor- • Lower energy bills home or builder-partner Sales tax revenue appears to be tant, and restaurants also can play a role at NoCOEnergyStarHomes.org getting stronger – March revenues in bringing people to an area, he said. Provide your client a financial advantage. for downtown (for taxes collected in Schallert estimates his firm has worked ENERGY STAR mortgage offers April) were up 19 percent over the with probably 500 downtown areas the home buyer: year before with $105,807 collected. around the United States; he has lived • Reduced interest rate South Main Street tax revenue was in Longmont for about five years. • Lower monthly costs up 18.7 percent for the same time “What I find exciting is that they’re • Conventional, FHA or VA loans period, Central Main Street was up willing to try new things,” Schallert 3.7 percent and North Main Street said of the city council’s push to mar- was down 2.7 percent. ket downtown Longmont. “They’re Sell the value home buyers expect. All in all, the Main Street collec- thinking outside what they have typi- ENERGY STAR label assures tions make up about 16 percent of all cally been doing to reinvent down- home buyers: sales- and use-tax revenue, based on town Longmont.” • Independent third-party statistics from the city. By compari- Twin Peaks Mall and the surround- verification son, Twin Peaks Mall and its imme- ing area also play a role in the city’s • Built to required performance diately surrounding areas represents economic vibrancy – the mall was built levels about 16 percent of the total, and in 1983 and has struggled in recent • Over 47% of new homes built in Colorado in 2010 earned Harvest Junction, just south and east, years to find new anchor tenants. the ENERGY STAR label represents about 6 percent. Traditional department stores are As planners discuss how to beef not in expansion mode, although the up the number of tenants downtown, department store Macy’s is seeing an some important dynamics are hap- uptick in sales nationwide, possibly indi- Ask Your Builder About ENERGY STAR pening at street level, too. cating others will trend upward as well, * source EPA ENERGY STAR and U.S Census Bureau web sites Crackpots is moving to a larger store- said Allen Ginsborg, managing director front just north of its current location, and principal of the mountain states for Learn more @ NoCOEnergyStarHomes.org while kitchen supply store Cayenne NewMark Merrill Co., the mall manage-

&TUFT1BSLt'PSU$PMMJOTt-POHNPOUt-PWFMBOE Kitchen at 372 Main St. is closing at ment company hired by mall developer Loveland Water and Power the end of May. At the May 20 ArtWalk Panattoni Development Co. to market 26A

26A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com

BCBRDAILY from 2A

charges against him in related matters according to the charge sheet against port planned growth, owner Andrew company recently introduced the Oasis in Nebraska, Minnesota and Iowa. him, even though he told regulators Pudalov said. Bowl, which includes coconut milk, Federal prosecutors claimed that that the fund had about $28 million. Individual investors in Boulder pineapple and mango, and the Gluten- Yost diverted about $1.8 million for Yost apologized to victims sitting and New York City put a “significant Free Beach Bowl, which includes Acai, his own use from the Yost Partnership in the courtroom during comments amount” into the privately held Boul- banana, mango and fruit juice. LP investment fund he managed in to prosecutors in U.S. District Court der-based company for wholesale Pudalov has two retail store locations Boulder. In his plea agreement, pros- in Denver. expansion plans, Pudalov said, declin- in Boulder: 1207 13th St. and 4593 ecutors laid out a complex scheme of During the sentencing, Yost also ing to name the investors or provide North Broadway. Rush Bowls also are fraud in which Yost opened lines of was ordered to pay victims $10.8 the amount of funding received. at Whole Foods Markets in the Rocky credit at certain banks, diverted funds million in restitution. He had faced Separately, Rush Bowls are avail- Mountain region in Colorado, Utah to his personal accounts and deceived up to 30 years in prison, based on the able in Southern Pacific region Whole and Kansas. They’re also available at the investors by creating false fund state- charges against him. Foods Market stores, including ones in newly opened Alfalfa’s Market in Boul- ments from 2005 to 2010. Posted May 13. Southern California, Arizona, Nevada der and at Aspen and Vail locations. Yost also forged signatures of peo- and Hawaii. They’re also in a number Posted May 16. ple he knew on promissory notes, Rush raises capital of Vitamin Cottage grocery stores. loan agreements and bank forms. Yost BOUDER — Fruit and granola The bowls are a blend of fruit and Upslope Brewing expands Partnership LP’s fund had less than company Rush - Naturally Enlight- other ingredients, including an organic BOULDER - One of Boulder’s $20,000 in assets at the end of 2009, ened has raised new capital to sup- granola or gluten-free topping. The youngest breweries has reopened its tap room following a significant expansion and has signed on with a distributor that will sell its beers statewide. Upslope Brewing Co. debuted the Even before the popularity of a coffee shop on every corner, new taproom at 1501 Lee Hill Road on business relationships have been started or nurtured over a May 12. The new design includes more cup of coffee. It’s the original social media venue. space for patrons, a new bar and furniture and a space for bands to perform. If you or your business needs a jolt, there is a diverse blend With space for up to 50 patrons of events and opportunities to have some face-to-face time and eight new taps, “it’s a legitimate with acquaintances both old and new. It’s the see and taproom,” Upslope founder Matt Cut- ter said. be seen event that has everyone buzzing. The taproom is expected to double the amount of revenue it brought in last year, Cutter said. Upslope was founded in 2008. The company makes four varieties of beer, a pale ale, an India pale ale, a brown ale and a new craft lager that should be hitting the shelves later this month. Since Dec. 1, when Upslope leased 6HSWHPEHU a unit next to its prior space, the company has doubled the size of its (PEDVV\6XLWHV brewery and increased its production capacity by about 75 percent.

U Upslope also found a distributor D that will sell its beers across Colorado. H Previously Upslope was its own dis- \ H tributor, and its reach was limited to K W Business Leaders Breakfast Boulder, Denver and select cities. RI featuring the 2011 CFO Awards, Posted May 16. W 7:30 am HQ Y The Northern Colorado CFO Awards are presented Dunshee returns to BEDC H to recognize chief financial officers in the Northern V BROOMFIELD — A familiar face HV Colorado region whose efforts successfully guide a VLQ is at the helm of the Broomfield Eco- 7KH EX company’s financial future. Nominations are open VHHDQ HVHHQ until August 1. nomic Development Corp., at least GE for a little while. BizFit 2011 Challenge Power Lunch, Don Dunshee, the BEDC’s longtime 11:30 am 7KDQN\RXWRRXUVSRQVRUV The challenge for a healthier lifestyle, better president and CEO, has been reappoint- Event Architect and Producer productivity and potentially lower health care costs ed to the position on an interim basis. began on May 1st. We will be honoring company Dunshee will have the job until the teams at Bixpo. board of directors selects a new CEO Business Expo, 10:00 am - 7:30 pm to replace outgoing president and Give your business a jolt by showcasing your products CEO Jessica Erickson, who is leaving and services — or by discovering new vendors at to take a job with the city of Thorn- Presenting Sponsors the largest business expo event of the year. Sip your ton’s economic development team. favorite brew and stroll the isles — you’re sure to Erickson’s final day was May 20. make some personal connections. Dunshee, who was president of the Bixpo After Hours, 5:30 - 7:30 pm Broomfield Economic Development Marketing Sponsor Enjoy live music and a little something extra in your Corp. from the mid-1990s until his coffee to put a nightcap on this event. If you can’t retirement last year, called his job jetmarketing make it during the day, this extra social, social event “position-sitting.” is a great time to network and visit the expo at the Dunshee said his job will be to man- Event Partners same time. age current prospects and handle any new inquiries. He also will work as a liaison with the city. High Sign Sponsor Media Sponsor The city and county of Broomfield’s new in-house economic development manager Ralph “Bo” Martinez started his job May 18. Posted May 17. 27A

Boulder County Business Report | www.bcbr.com May 27 - June 9, 2011 | 27A

FUNDING from 1A voltaic systems on their properties. Mortgage deal could end Herman pointed out. multiplier effect of about $90 million “Unfortunately, every solar com- The Colorado Energy Star Mort- “Take advantage of what’s there in new materials bought and new con- pany is laying off people as one of the gage program offered in Boulder now,” Herman said. “No matter what tractor work, Fyfe said. ramifications of the chances in the Valley and other Bank of Colorado happens with the governor’s funding, The multiplier effect is calculated (Xcel) incentives and the governor’s locations, is financed directly from it’s never probably going to look as from a variety of sources, Fyfe said, energy office,” McKenna said. the Governor’s Energy Office, which good as it does now, with local, state giving the example of a $500 rebate helps make the interest rate about 0.5 and federal rebates.” given by the office to a consumer for 400 to 600 jobs lost percent lower than other mortgages Boulder County’s own federally a new furnace. The consumer actually In 2010, probably 400 to 600 solar available on the market, said Stephen funded program offers up to $1,000 would pay $2,000 for the furnace at industry jobs were lost of the state’s Ponce-Pore, energy program manager per household in EnergySmart rebates the store, and hire someone to install 5,300-job total because of uncertain- at the bank. through July 31, for example, said Eric it, Fyfe pointed out. ty about Xcel’s plans and about a sim- Homeowners use the freed-up Doub, founder and chief executive “So our investment leveraged at ilar issue at Black Hills Corp. (NYSE: money to make energy-efficient officer of EcoSmart Homes in Boul- least another $1,500 investment,” BKH) another utility provider in improvements to their homes, Ponce- der, which does energy-efficiency Fyfe said. “That’s the type of result Colorado, said Neal Lurie, executive Pore said. The bank has locations work. that we can take to the state Legis- director of the nonprofit Colorado across Colorado; Ponce-Pore’s office Having so many rebates currently lature to get them to reinstate the Solar Energy Industries Association in Loveland can work with Boulder available create a “cumulative buzz funding stream.” based in Boulder. The Boulder Valley County residents. effect” in getting homeowners inter- A bill in the Legislature to create has about 60 of the state’s 400 or so “I would love to see an (renewable ested in doing more energy-saving a “Colorado Energy Office” came solar companies, Lurie said. energy) industry that can be sup- work, Doub said. from Jon Becker, R-Fort Morgan, who “It’s very concerning. Until we can ported by ongoing funding streams wanted to downsize the current office create a more stable environment, it and policy,” Ponce-Pore said. “I think $10 million in rebates and focus on both traditional and puts jobs at risk,” Lurie said. we’ll earn back more than we invest Solectria Renewables LLC new renewable energy in Colorado. Becker Locally, solar companies may lose in it, and we’ll make more money Louisville office also believes the state wasn’t available for comment. one-third to one-half of their solar through taxable resources and jobs funding issue won’t directly affect its What’s most important is that Col- panel jobs by the end of 2011, based and income.” solar converter business, said John orado continues to be seen as a leader on the Xcel decision and general Consumers should pay attention, Shaw, regional sales manager. If the in the clean energy marketplace,. uncertainty about GEO funding, said too, said Julie Herman, executive GEO goes away, it could hurt the Lurie said the governor’s office is Blake Jones, president of Namaste director of the Boulder Green Build- entire renewables industry, however, expected to make it a priority to find Solar Electric Inc. in Boulder. ing Guild, which works with the Shaw said. new funding for the GEO. “We would like to see a strong, Governor’s Energy Office in a variety “They have wonderful momen- “We think it plays a key role in well-supported Governor’s Energy of programs, including energy-effi- tum,” Shaw said. attracting private investment, job Office continue its work, and I think ciency rebates. In the last 11 months, the state growth and job creation right here the solar industry in particular would At the same time, several other office has handed out about $10 mil- in Colorado, so it more than pays for benefit from that,” Jones said. incentive programs will continue, lion in rebates, which resulted in a itself,” Lurie said.

Join the list of 2012 Best Employers in the Boulder Valley BEST EMPLOYERS in the Boulder Valley PRESENTED BY THE BOULDER COUNTY BUSINESS REPORT

Enroll to participate in a two-part process designed to gather detailed data about each participating company. Best Companies Group will conduct the surveys, analyze the data and determine the final rankings. Why Participate? Heightened Company Pride Public Relations and Marketing Advantage Employee Feedback Report Announcing & Recognizing the Winners! In November, companies will be notified in writing whether they made the list. Winners will find out where they rank in a special supplement to the Boulder County Business Report published in For more information, go online to: February, 2012. List-making companies will be recognized at the annual awards www.BestEmployersBV.com event also held in February. 28A REAL ESTATE

28A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com boulder valley real estate watch

EXISTING HOME SALES April 2011 Statistics Year-to-Year Comparison

Location Total# Inventory Avg. Avg. Median Total # Sold Average Sales Price Average Days to Contract Median Sales Price Sold Sales Days to Sales Location 04/01/09- 04/01/10- %chg 04/01/09- 04/01/10- %chg Location 04/01/09- 04/01/10 %chg 04/01/09- 04/01/10- %chg Price Contract Price 03/31/10 03/31/11 03/31/10 03/31/11 03/31/10 03/31/11 03/31/10 03/31/11 Boulder 53 490 $610,778 124 $495,000 Boulder 613 592 <3.4> $650,456 $657,603 1.1 Boulder 81 79 <2.5> $525,000 $540,000 2.9 Broomfield 37 174 $308,755 102 $281,000 Broomfield 343 327 <4.7> $353,183 $378,795 7.3 Broomfield 89 90 1.1 $311,000 $334,000 7.4 Erie 21 149 $303,938 79 $280,000 Erie 289 269 <6.9> $326,862 $337,306 3.2 Erie 80 86 7.5 $305,000 $317,000 3.9 Lafayette 29 146 $375,772 94 $385,000 Lafayette 227 221 <2.6> $350,260 $360,801 3 Lafayette 73 73 0 $300,000 $311,000 3.7 Longmont 59 496 $229,468 82 $204,000 Longmont 894 819 <8.4> $244,237 $255,205 4.5 Longmont 75 69 <8> $221,000 $225,000 1.8 Louisville 15 89 $406,190 42 $399,950 Louisville 205 198 <3.4> $403,119 $434,239 7.7 Louisville 62 57 <8.1> $365,000 $386,000 5.8 Superior 13 57 $430,961 90 $352,000 Superior 130 102 <21.5> $408,475 $431,439 5.6 Superior 62 50 <19.4> $387,000 $424,900 9.8 Mountains 14 299 $535,428 78 $304,000 Mountains 205 225 9.8 $415,411 $416,242 0.2 Mountains 147 129 <12.2> $360,000 $369,000 2.5 Plains 16 324 $758,057 96 $720,000 Plains 254 355 39.8 $602,878 $631,845 4.8 Plains 118 103 <12.7> $470,000 $475,671 1.2 Total 257 Total 3,160 3,100

EXISTING CONDO SALES April 2011 Statistics Year-to-Year Comparison

Location Total# Inventory Avg. Avg. Median Total # Sold Average Sales Price Average Days to Contract Median Sales Price Sold Sales Days to Sales Location 04/01/09 04/01/10- %chg 04/01/09- 04/01/10 %chg Location 04/01/09- 04/01/10 %chg 04/01/09- 04/01/10- %chg Price Contract Price 03/31/10 03/31/11 03/31/10 03/31/11 03/31/10 03/31/11 03/31/10 03/31/11 Boulder 44 507 $341,307 105 $281,250 Boulder 653 586 <10.3> $302,435 $305,425 1 Boulder 100 126 26 $242,000 $246,875 2 Broomfield 3 54 $159,966 68 $164,900 Broomfield 64 55 <14.1> $210,112 $217,410 3.5 Broomfield 106 103 <2.8> $190,000 $209,900 10.5 Erie 0 11 0 0 0 Erie 31 39 25.8 $225,053 $218,999 <2.7> Erie 76 95 25 $196,679 $153,000 <22.2> Lafayette 5 60 $172,927 87 $179,000 Lafayette 102 72 <29.4> $186,167 $171,201 <8> Lafayette 64 62 <3.1> $172,000 $165,625 <3.7> Longmont 10 114 $149,788 125 $129,944 Longmont 198 162 <18.2> $170,750 $177,750 4.1 Longmont 108 86 <20.4> $168,000 $162,900 <3> Louisville 4 18 $183,749 66 $179,248 Louisville 70 36 <48.6> $207,771 $198,514 <4.5> Louisville 93 76 <18.3> $207,000 $187,100 <9.6> Superior 1 16 $295,000 11 $295,000 Superior 51 25 <51> $268,060 $217,044 <19> Superior 72 63 <12.5> $216,000 $222,500 3 Mountains 0 4 0 0 0 Mountains 0 0 N/A 0 0 N/A Mountains 0 0 N/A 0 0 N/A Plains 8 52 $218,237 124 $174,950 Plains 91 110 20.9 $183,480 $184,037 0.3 Plains 99 117 18.2 $159,000 $163,000 2.5 Total 75 Total 1,260 1,085 For more information contact: Kenneth Hotard 303.442.3585 • [email protected] Datasource: IRES-Information Real Estate Services Hospital buys more land for expansion

BOULDER — The Community Hospital Association, dba Boulder A NEW ATMOSPHERE Community Hospital, has purchased UCAR making new laboratory greener a 6,230-square-foot office building across the street from Boulder Com- munity Foothills Hospital, its latest in a number of purchases in the area. The building at 4895 Riverbend Road sold for $1.5 million. According to Boulder Coun- t y A s se s sor’s Office records, it is the sixth parcel the hospital owns in the Riverbend neighborhood, which is across 48th Street from the growing Boul- REAL ESTATE der Community Michael Davidson Hospital Foot- PHOTO BY MICHAEL DAVIDSON hills campus. Crews continue to remodel the University Corporation for Atmospheric Research’s Anthes Building. The facility, at 3375 Mitchell Lane in BCH plans on adding 100,000 Boulder, is named for UCAR’s longtime president Richard Anthes, and will be home of lab facilities. The remodeled building will include square feet of clinical space to the green features such as solar panels and water-efficient fixtures, and the building is anticipated to achieve LEED Gold certification. hospital, building a 46,000-square- foot medical office building and making Foothills the primary center for cels, has a number of small, one- and Berne said. The move is scheduled to take inpatient acute services. two-story office buildings. Several potential buyers inquired place the first week of June. Construction of the office building The building was sold by 4895 Riv- about the building, although it was not is set to begin by the end of 2011, and erbend Road LLC, which purchased listed as being for sale, Berne said. “We’re at a great location right now, the expansion of the hospital will start it for $960,000 in June 2005, accord- but we’ve just outgrown it,” SendGrid sometime in 2012, according to the ing to the assessor’s office. SENDGRID RELOCATES: senior director of marketing Robert 10-year plan the hospital developed in Current tenants in the building SendGrid Inc., which manages email Phillips said. “We expect to double, 2010. The plan to remake the campus include an American Family Insurance campaigns for clients using a cloud- maybe even triple in size this year.” is expected to take about three years office and an office of Indiana Members based service, is relocating to a 7,500- SendGrid currently employs about and cost about $110 million, accord- Credit Union, said Audrey Berne, the square-foot office space at 929 Pearl 20 people in Boulder, with about 10 ing to the hospital’s website. broker who was the listing agent. Berne St. The fast-growing company is leav- other employees elsewhere. It has The hospital has not reported plans is a broker with The Colorado Group. ing behind a space that is less than openings for 15 positions posted on to expand on the land across 48th The tenants will remain in the half that size at the Randolph Center, its website. Street. The area, which has 12 par- building, at least in the near term, 1877 Broadway in Boulder. ➤ See Real Estate, 29A 29A REAL ESTATE

Boulder County Business Report | www.bcbr.com May 27 - June 9, 2011 | 29A

REAL ESTATE from 28A The company plans to continue its Bouquet Boutique. The florist will active in Broomfield small-business by mid-October, could add eight growth spurt. downsize into No. 400. and charitable circles. additional classrooms to the school’s “If the trend continues, we’ll defi- The buyer is JK Property LLC, “It was very emotional for my wife Longmont campus. nitely have to move down the road,” which records show is owned by Dr. and I, but you’ve got to do what you’ve IBMC purchased its current home Phillips said. Justin Kwon, a local dentist. Kwon will got to do,” Sutton said. at 2315 N. Main St. in 2010. It used to SendGrid was incorporated in be relocating part of his practice, Green Todd Walsh of The Colorado be the New Frontier Bank building. 2009 and graduated from the Tech- Dental, to the property, Sutton said. Group brokered the sale. The 9,000-square-foot building Stars Boulder program in 2009. It The Suttons owned the property for can accommodate about 250 stu- has received $5.75 million in venture the past eight years. The decision to sell LONGMONT dents, the school said in a press release capital. was driven by increasing property taxes, IBMC EXPANDS: The Institute announcing its plans. The building has The building SendGrid is moving which tripled over the past eight years, of Business and Medical Careers classrooms, a library, massage clinic to is owned by 10th and Pearl LLC. and the lasting effects of the recession. Inc. in Longmont wants to expand rooms and administrative offices. Chris Boston of Gibbons-White Inc. Attempts to negotiate the mortgage or upward. IBMC, which is based in Fort Col- represented SendGrid. Paige Coker find new loans were fruitless. The IBMC is in the permitting lins, has four campuses in Fort Collins, Heiman of Acquire Inc. represented “To stay alive we had to downsize,” process in its attempt to build an Greeley, Longmont and Cheyenne. the landlord. Dennis Sutton said. 8,200-square-foot two-story build- The decision was bittersweet for ing on its Longmont campus. The Michael Davidson can be reached at 303- CONSULTANTS TO MOVE: the Suttons, who have long been addition, which could be completed 630-1943 or email [email protected]. Conversant Solutions LLC, a Boulder- based business consulting firm that focuses on intra-company communication and organization agility, will be leaving its longtime home for new space in the Tanner Building in Boulder. ! " Conversant, which employs about 15 # $$ $ % &'( )* people at its home office, will be making the move to the 4,950-square-foot space ' + in late July or August, said Dana Dupuis, vice president of client solutions. The Tanner Building is at 1402 Pearl St. Conversant’s current location is 1470 Walnut St., 4th Floor West, in Boulder. The new office will take up the Tanner Building’s entire second floor. The building was damaged by a fire in March, but crews are working on remedying that and redesigning the space for Conversant, said Hunter Barto, the broker with Dean Callan & Co. who represented Conversant. The building is owned by Pearl Street Mall Properties Inc.

RE/MAX RULES: RE/MAX of #$ %& ' ( Boulder Inc. is one of the top selling agencies in the country, according to the 2011 REAL Trends 500 Report. The firm was No. 1 on the report’s list of top firms ranked by closed sales !! ! "!! #!$ % ! &! volume per office. The office’s sales volume of $558,594,199 was more '$ ( !! $ than $71 million more than the sec- ! )!! ond place office. RE/MAX of Boulder has 89 brokers. “Our Realtors take tremendous % % ) * + pride in their production and providing a level of service to their clients that *+, ) $ can’t be beat. This award exemplifies the fulfillment of all of their dedication !$ $ and hard work,” RE/MAX of Boulder managing broker D.B. Wilson said. $- . % /!$ " 0 - " /!! # $ BROOMFIELD FLORISTS SELL BUILDING: "!! #!$ % ! &! '$ The longtime owners of a Broomfield florist have sold their store’s home in /!$ " 0 1 $ an effort to downsize and remain in business. 4 5)!! #!$ '$ - !$ 2 Dennis and Sue Sutton, owners of Bouquet Boutique Inc., sold their 0 !! ! ! /! $ # 3 - ! - 3,093 square foot retail unit at 290 !$ - ! $ $ $ $ $ Nickel St. for $425,000. The deal includes a leaseback ) !! clause, so the boutique, which the Sutton family has owned since 1972, will remain open and at the location. The Suttons owned and sold two units in the building, No. 400 and No. !" 500, both of which were occupied by 30A OPINION

30A | May 27 - June 9, 2011 Boulder County Business Report | www.bcbr.com opinion EDITORIAL Restore funds for state’s energy ofﬁce

olorado state officials should work promptly to restore funding for the Governor’s Energy Office. TheC office, which promotes energy conservation in the state, faces an uncertain future after a legislative session that cut off funding and sought — unsuccessfully — to change the agency’s mission. Gov. John Hickenlooper allowed a bill to become law — without his signature — that stripped the office’s funding from state gaming revenue. Green Summit looks toward future Additionally, a three-year federal grant of $130 million ends in 2012. uzzwords and terms abound mercialization of NASA technologies. Valley, has emerged as a leader in the A state legislator also proposed in the Boulder Valley when Our panel will discuss the future and “New Energy Economy.” But other during the last legislative session to it comes to business and the potential of this project, and how it cities, states and countries are pushing downsize the office, change its name environment: Green. Sus- might affect the Boulder Valley. toward renewables and clean tech with Btainable. Renewable energy. Triple to the Colorado Energy Office and • Moving Forward: The Ideal equal — or greater — zeal. How do we alter its focus to include both tradi- bottom line. New Energy Economy. Transportation System really stack up with other parts of the tional and renewable energy. The bill Each word or phrase carries great High-speed rail, electric cars, buses, world, and are we losing ground? did not pass. meaning as the region both builds a bicycles — ideas • One-on-Ones But the potential shift in mission, base of companies and organizations for a more sus- 9News business reporter Gregg and the actual reduction in funding, engaged in development of clean- tainable system Moss will interview three to four has caused concern among the state’s energy technologies, and works to for transporting leaders of local clean-tech and green renewable-energy sector. shift away from fossil fuels as the goods and ser- companies and organizations, in one- We share that concern. major source of power. vices abound, on-one interviews in front of the Former governor Bill Ritter pro- The fourth annual Green Summit, but funds are audience. moted the state as a hub of the “New presented by the Boulder County limited. Our • Eco-Heroes Awards Energy Economy.” That status is built Business Report, will address each of panel will dis- Celebrate with the Boulder County on two foundations: those topics and more. The event is PUBLISHER'S cuss statewide Business Report as it honors six Eco- • Clean-tech companies such as scheduled for 7:30 a.m. to 5:30 p.m. NOTEBOOK transportation Heroes — individuals who are contrib- Vestas Blades America, Abound Solar at the Millennium Harvest House in goals, and what uting to sustainable business practices. Christopher Wood Inc. and Ascent Solar Technologies Boulder. This year’s Green Summit initiatives are The Green Summit is once again Inc. have joined a wealth of university will include an overriding theme of under way in the presented through the support of and federal-laboratory assets devel- “New Horizons: Moving Toward a Boulder Valley. our title sponsors, Holme, Roberts & oping new technologies that can be Sustainable Future.” • High Fives Owen LLP and Western Disposal Ser- employed around the globe to pro- Topics will include: Ten companies will make five-min- vices Inc. Associate sponsors include mote the shift from fossil fuels. • Boulder’s Energy Future: The ute presentations on one of their great- the Colorado Carbon Fund, CopyEx- • Efforts have been made to City Decides est successes in sustainability, provid- perts, EnergySmart, Roche Colorado improve energy efficiency around the The city of Boulder will soon ing practical ideas for attendees to and the GrafX Group. The media state, including promotion of energy determine whether to create a munic- implement at their own companies. sponsor is KUNC 91.5 FM, while the conservation, green building and a ipal-owned utility or to sign a new • Green Real Estate: Lessons reception sponsor is the Millennium shift toward renewable energy and franchise agreement with Xcel Ener- Learned Harvest House in Boulder. Regonline away from carbon. gy. Our panel will explore various Implementing green design into is the official registration sponsor. That latter mission is one in which aspects of the issue, including costs, real estate — both new projects and Sponsorships are still available. the Governor’s Energy Office has as the city prepares for one of its most retrofits — requires a commitment to For sponsorship information, contact excelled, but which is in the greatest important decisions in decades. sustainability, but also a commitment Kevin Loewen at 303-440-4950, or jeopardy. • ACE: Dealing for Jobs to due diligence. Our panel will delve via email at [email protected]. Boulder County Business Report The planned Aerospace Clean into the economics of specific sustain- Register for the event at www. staff writer Beth Potter reports that Energy Manufacturing and Innova- able features, exploring what works bcbr.com/greensummit. in the past 11 months, the GEO has tion Park in Loveland could spur — and what doesn’t. handed out $10 million in rebates, with a creation of thousands of jobs along • Clean-Tech Reality Check Christopher Wood can be reached at 303- multiplier effect of $90 million in mate- the Front Range as it facilitates com- Colorado, including the Boulder 440-4950 or email at [email protected]. rials purchased and contract work. Such programs have given an enor- PUBLISHER CARTOONIST/PRODUCTION ARTIST CIRCULATION MANAGER Christopher Wood ...... [email protected] Ron Ruelle Janet Hatfield ....jhatfi[email protected] mous boost to the state’s solar-energy EDITOR SALES DIRECTOR CONTRIBUTING PHOTGRAPHERS installation companies, which employ Doug Storum ...... [email protected] Kevin Loewen [email protected] Jonathan Castner, Michael Myers, thousands of people statewide. BUSINESS DEVELOPMENT DIRECTOR Peter Wayne WRITERS Jason Henderson . [email protected] The Governor’s Energy Office VOLUME 30, ISSUE 12 Michael Davidson [email protected] CONTRIBUTING WRITERS Beth Potter ...... [email protected] MARKETING MANAGER Elizabeth Gold, Lyla D. Hamilton, performs a necessary and valuable BOULDER COUNTY BUSINESS REPORT De Dahlgren ...... [email protected] Gary Horvath, Dylan Otto Krider, mission: promotion of energy conser- 3180 Sterling Circle, Suite 201, RESEARCH DIRECTOR Michael Martensen Boulder, Colo. 80301-2338, is Beth Edwards [email protected] SENIOR ACCOUNT EXECUTIVE vation. To remove its funding or to Kim Oremus [email protected] published biweekly by BizWest To advertise or subscribe: 303-440-4950 change its mission risks aborting our Media a Colorado corporation, in PRODUCTION MANAGER Fax: 303-440-8954 Online edition: www.BCBR.com Dave Thompson .... [email protected] ACCOUNT EXECUTIVES “New Energy Economy” just as it was Boulder, Colo. Marlena Rich ...... [email protected] The entire contents of this newspaper are copyrighted by BizWest Media with all rights reserved. Reproduction or beginning to form. ART DIRECTOR CONTROLLER Brittany Rauch [email protected] Rhonda Doyle ...... [email protected] use, without permission, of editorial or graphic content in That would be a great mistake. any manner is prohibited. 31A

Boulder County Business Report | www.bcbr.com May 27 - June 9, 2011 | 31A

nonprofit network calendar MAY noon to 5 p.m. at the Avery tap room, 57575757 Boulder Airport, 3393 Airport Road, Boulder. FUNDRAISERS The 24th Annual Razzle Dazzle Arapahoe Ave. Suite A1, Boulder. SixtySixty rare USO-style show, big band dancing, swing The 14th annual A Moveable Feast fundraiser for 28 event, a fundraiser for Impact on sour beets will be presented. Tickets are dance lessons. Wine, champagne, beer and Blue Sky Bridge, a children’s advocacy center serving Education, will be at 5:30 p.m. Saturday, at $45. Proceeds benefit Colorado Brewers cocktail bar. Food available for purchase. abused children, will be Saturday, June 11. For more the Boulder Reservoir. $150 per person. Din- Guild. For more information go online at www. WWII parachute jump, plane rides available. information contact Nanette Schunk, 303-666-8338 ing, entertainment, live and silent auctions. averybrewing.com. For more information and to purchase tickets or [email protected], or Pamela Hooley, 303- Register online at http://auctions.readyse- go online a www.1940sBall.org. 444-1388 or [email protected]. tauction.com/impactoneducation/. The Boulder County Business Report 14 presents its annual Green Summit: 5th Annual HER Climb4Life, from Laura’s Kids presents the Peter Marsh Golf Tourna- The Superior Morgul Bismark Classic Blending Business & The Environment, 24 5:30 to 10 p.m., Boulder Rock Club ment benefitting Stand Up To Cancer on Saturday, bicycle race and a variety of associated an all-day event including a keynote speaker and Colorado Mountain School, 2829 Maple- June 4, in Estes Park. For more information call 970- events will take place Saturday and Sunday in and breakout sessions on various aspects ton Ave. in Boulder. Supports HERA Women’s 690-3444 or visit www.standup2cancer.org. Superior. Events included road and criterium of clean technology and green business Cancer Foundation. Climb or hike with pro- GOOD DEEDS races, street fair, vendor booths, beer garden, practices. The event will be from 7:30 a.m. to fessional athletes and guides to raise aware- concert and awards ceremony. Activities Amgen Inc., with operations in Boulder and Long- 5:30 p.m., Tuesday, at the Millennium Harvest ness and funding for ovarian cancer research. mont, donated $27,000 to Community Food Share, take place at the corner of Coalton Road and House, 1345 28th St. in Boulder. Cost is $49 Contact: HERA Women’s Cancer Foundation McCaslin Boulevard. which distributes food to people in the Boulder Valley per person and includes breakfast and lunch. at 970-948-7360 or http://www.herafounda- in need through a network of 58 member agencies. JUNE Register online at www.bcbr.com/greensum- tion.org/about-hera/contact/. mit. Cynthia Ciancio, attorney and founding shareholder Boulder-based Anark Corp. will pres- The 16th Annual Women Who Light at Donelson Ciancio & Goodwin, ent a webinar, Anark Core 4 and the 1 Daylight Production Studio Open the Community awards luncheon PC in Broomfield, participated in Model Based Enterprise, at noon. Webinar 27 House! will be from 4 to 8 p.m., hosted by the Boulder Chamber will take this year’s Barristers Benefit Ball will demonstrate advancements in 3-D com- 16 Daylight Productions and Rentals, 4700 place from 11:30 a.m. to 1:30 p.m. at the to benefit the Metro Volunteer puter-aided design. Contact Paul Perreault, Sterling Drive, Suite I in Boulder. Check Millennium Harvest House in Boulder. The Lawyers. Ciancio was one of four 303-545-2592. out equipment available to Boulder Digital Chamber will recognize five women who greater Denver area attorneys in Arts members through new partnership with have contributed their time and resources to the Dancing with the Stars style Louisville Chamber of Commerce pres- Daylight Productions. Cost is free. Register make Boulder County a better place to live, competition. Her fundraising ents the 25th Taste of Louisville from 10 4 at www.boulderdigitalarts.com. Contact: work, and play. Honorees are Brenda Lyle, efforts earned her the Overall Bar a.m. to 4 p.m. in historic downtown Louisville Cianco Kira Woodmansee at 303-800-4647 or kira@ founding executive director of the Family Star Award by raising the most and the Louis-Palooza band concert at the boulderdigitalarts.com. Learning Center; Karen McMurry, co-man- money for MVL. Ciancio’s dance Steinbaugh Pavilion. Vendor booths cost aging director for The Academy retirement moves earned her the People’s Choice Award. $100 for chamber members and $250 for Art Night Out — Meet the Artists, community and The Academy at Bella Vista; nonmembers. Deadline for vendor registra- Impact Wealth Advisors Ltd. in Boulder made a from 6 to 9:30 p.m., Festival Plaza, Dorothea El Mallakh, executive director of the tion is May 20. Phone is 303-666-5747 or 17 $1,000 contribution to There With Care, a Boulder- 311 S. Public Road in Lafayette. Lafayette’s Boulder- based International Research Cen- visit www.louisvillechamber.com and click on based nonprofit assisting families and children facing Public Art Committee has selected 16 new ter for Energy and Economic Development; events for applications. critical illnesses. Impact Wealth Advisors principals G. pieces featuring local and out-of-state artists Catherine Underhill, executive director of the Anthony Harrigan and Ken Finkel and financial consul- for its 2011-2012 outdoor sculpture gallery, Colorado Music Festival; and Peggy Bruns, Louisville-based Envysion will present tant Tara Mohr chose There With Care as part of their the largest sculpture-on-loan program in director of Rocky Mountain Center for Musi- the Second Annual Managed and Host- company’s ongoing commitment to give back to the 6 Boulder County. Tickets for the fundraiser cal Arts. Luncheon registration is available ed Video Summit at the St Julien Hotel & Spa community through charitable donations, volunteer benefiting public art are $10 and will be online at www.boulderchamber.com. in Boulder. Conference is intended to promote work and awareness raising of local nonprofits. The available for purchase at Mojo Coffeehouse, hosted video solutions and the adoption of wealth-management firm has assisted more than 15 TUTTI, Eats & Sweets, pARTiculars, Lafayette DaVinci Institute presents Make managed video as a service. A full agenda different nonprofits and philanthropic organizations as Florist, Timbalier, and at the door. Contact: Them Notice! How to Stand Apart and registration information are available at 29 part of its Making An Impact Award. Susan Booker at 303-665-5588 ext. 3353 or From Your Competitors & Drive Results, www.envysion.com/videosummit. susanb@cityoflafayette.com. from 6 to 8:30 p.m., DaVinci Institute, 511 E. Xcel Energy Co. donated $3,000 to the Aging South Boulder Road Louisville. Cost is $69. Services Foundation to be used for Project Hope, a Avery Brewing Co. presents the sec- The 3rd Annual 1940’s WWII Era Ball Contact: Jan Wagner at 303-666-4133 or program that supports frail, low-income elderly adults ond annual Boulder SourFest from 11 will begin at 6 p.m., Saturday, at the [email protected]. at risk of having to leave their homes and enter an 18 assisted-living or nursing home.

EYE from 3A

“Whip It” Devo dancer — one Brad Feld, managing director of the Foundry Group venture capital firm, a cofounder of the Tech- Learn and talk about how Boulder’s Energy Stars startup accelerator and a serial entrepreneur. Future may affect your business. Boulder city Remember that New Wave ’80s staff will be available to answer questions. band Devo? Feld insists that he had never heard Casual Coffee Meetups the catch phrase “eco devo,” short for economic development, when the Your green state’s new economic development Friday, May 27 Friday, June 3 guru Dwayne Romero mentioned it professional 7:30 to 9 AM 7:30 to 9 AM in a breakfast speech at the summit. The Cup Caffé Sole Feld followed Romero at the well- is just a few 1521 Pearl St. 637R S. Broadway St. attended event. So when Hanson asked Feld a spe- clicks away cific question about how “eco devo” groups could help local companies, Informational Sessions he quickly went into dance mode — shimmying forward with one hand Wednesday, June 8 Friday, June 10 up, fingers pointed forward, a la The Bangles “Walk Like an Egyptian.” 7:30 to 9 AM 7:30 to 9 AM It’s probably the first, last and Boulder’s Dinner Theater Hotel Boulderado only time she’ll ever get to see Brad 5501 Arapahoe Ave. 2115 13th St. Feld dancing on stage because of something she said, “But I Like It,” Hanson said, later. (Apologies to the Wednesday, June 8 Monday, June 13 Rolling Stones.) 4:30 to 6 PM 7:30 to 9 AM On a more serious note, Hanson Namasté Solar Covidien told the Eye she loves the national 4571 Broadway St. 5920 Longbow Dr., Bldg. #6 attention a businessperson like Feld brings to Boulder. On a national stage, Feld “spreads the word more than probably anyone else can do” Energy Future Business Matters events are co-sponsored about how great it is to do business by the hosting businesses and by the Boulder County in Boulder and to grow companies in Business Report. The city appreciates their partnership. Boulder, she said. Get info and give feedback: BoulderEnergyFuture.com. 32A Milestones Icons and history of the Boulder Valley

Last opportunity to be included. Ad deadline June 10.

Celebrate the momentous achievement of the Boulder Valley The Boulder County Business Report will celebrate • Reach more than 20,000 of the Boulder the Boulder Valley’s rich business history in a special Valley’s innovative decision-makers leading our successful community. magazine in July 2011. This is a once-in-a-lifetime • Recognizing organizations’ anniversaries in opportunity to showcase your organization in Boulder County and Broom eld. this celebratory issue commemorating Boulder • Keepsake edition with editorial focusing County’s 150th anniversary, Broom eld’s 50th on Boulder Valley icons that have made a anniversary, and Erie and Longmont’s 140th positive impact on our past, present and anniversary. future. Milestone Profiles

Milestone Profiles are a once-in-a-life time opportunity to showcase your company in this celebratory issue of the Boulder County Business Report. This special magazine will recognize organizations with a 10-year plus residence in the Boulder Valley. You may highlight your company with a full-page profile recognizing overall success, history, significant accomplishments or even acknowledge your own anniversary. More than 10,000 copies of this special edition will be distributed to our loyal readers who are innovative decision makers leading our successful community. SAMPLE PROFILE Actual dimensions: 10.25” x 14” To reserve your space, contact your Business Report www.BCBR.com Representative at 303-440-4950 Act now to reserve your space in this prestigious publication!