Corporate wallets are opening for Denver’s quest to host the Democratic National Convention in August of 2008. Qwest and Comcast have each pledged $5 million and Xcel Energy has put $1.5 million on the table. The pledges include both in-kind and cash contributions. The Denver Host Committee is hoping to raise $20 million from the Colorado business community towards the $80 million dollar goal. About $25 million will come from the federal government to cover most of the security costs. Another goal is to raise $10 million from surrounding Rocky Mountain/Western states.
This week, DNC chairman Howard Dean is supposedly in final negotiations with Denver and New York City in order to make his decision between the two cities for the location of the convention. Estimates are the economic impact would be at least $160 million for the host city.