New funding to the tune of $500,000 is coming to a town of around 2,300 in western Colorado that is trying to move on from its big oil drilling and coal mining days.
Located near the Utah border, the town of Rangely was once home to more than 1,000 wells, producing upwards of 11,000 barrels a day, while its coal mines have numbered in excess of 3,300.
But town officials have for some time been concerned about Rangely’s future economic viability as moves to reduce greenhouse gas emissions have led to a complementary move to ban new oil and gas drilling permits in the state and a closing of the mines.
In response, Colorado’s Office of Economic Development and International Trade has announced the awarding of what is called a Coal Transition Community grant to help Rangeley move to a local economy less reliant on extraction.
Such grants are awarded to communities in the Centennial State impacted by the ongoing changes taking place in energy development.
According to a website for the program, the “amount of funds available to each community varies depending primarily on the number of coal-fired plant and coal mine closures, as well as the urgency of those closures, within each community.”
In announcing the grant for Rangely, Governor Jared Polis said the support will help the town “create dozens of new jobs in western Colorado and retain many more.”
More specifically, the grant will provide business, financial, and marketing training for local entrepreneurs and existing businesses.
“This will invigorate our business community and encourage entrepreneurs who have been contemplating starting a business or expanding a current business, but need assistance, as well as training to take the next step,” Lisa Piering, Rangely Town Manager, said in a statement.
By Garry Boulard
Image Credit: Courtesy of Unsplash
