Colorado Attracting New Businesses and Creating Good-paying Jobs under Polis Administration’s Leadership
DENVER – This morning at a meeting of the Metro Denver Economic Development Corporation, Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that Virta Health, a health technology company and leader in type 2 diabetes reversal, has selected Colorado for its new headquarters. Under the Polis administration, Colorado has secured many new business headquarters that will create good-paying jobs for Coloradans.
“As a business person, I am excited about the progress our administration has made to attract and secure new businesses, help support existing companies and support the creation of more good-paying jobs for Coloradans. This exciting addition to Colorado’s growing technology and health industries will bring new good-paying jobs to Coloradans, and we are thrilled to welcome Virta Health to Colorado, the best place to live, work, and do business,” said Gov. Jared Polis.
Through innovations in technology and nutrition science, Virta helps people reverse type 2 diabetes without medications or surgery. The company provides personalized care, education, and guidance—all virtually via an innovative technology platform—from both medical providers and health coaches on a near 24/7 basis. This approach helps people with diabetes lower blood sugar, lose weight, and eliminate the need for medications, including insulin. The decision to open a Colorado headquarters follows the successful operation of a satellite office in the city of Denver.
“The technology and healthcare talent we have already assembled in Colorado provides a clear picture of the exciting growth potential we have in the region,” said Sami Inkinen, Virta Health co-founder and Chief Executive Officer. “Colorado is a great place to live, with a spirit of innovation and people who are willing to tackle big challenges to change the world for the better. It’s an ideal setup for a mission-oriented company like Virta Health.”
Virta will select the location of the new headquarters in the coming months, which will be the home for new engineers, researchers, sales and account managers, coaches and clinicians, and administrative roles. The company is Great Place to Work certified, and was included on the 2022 CNBC Disruptors list, Fortune’s 2022 list for the Best Places to Work in Healthcare, and Built In’s 2022 Best Places to Work Bay Area and Colorado.
“Colorado connects innovative employers to a talented workforce that is ready to develop innovative health tech solutions, and offers employees an unparalleled quality of life that makes them more fulfilled and more productive at work,” said Patrick Meyers, Executive Director of the Colorado Office of Economic Development and International Trade. “We’re pleased that Virta Health recognizes the unique benefits that Colorado offers and will contribute to a strong and sustainable state economy.”
“The Metro Denver region offers employers a highly skilled and educated workforce. In fact, CNBC recently named Colorado the top state for workforce thanks to our skills, experience, and training,” said Raymond Gonzales, President of the Metro Denver Economic Development Corporation. “Our talent pool is especially attractive to employers like Virta Health who recognize their qualifications but also align with the spirit of life and work in our region.”
The State of Colorado will provide up to $6,951,291 in performance-based Job Growth Incentive Tax Credits over an 8-year period to Virta Health, referred to as Project Chamomile throughout the OEDIT review process. The company currently has 392 employees, just over 100 of whom are in Colorado working remotely.
This year, Governor Polis signed and the legislature passed nearly $1 billion in property tax relief for homeowners and businesses. Gov. Polis signed new laws making it nearly free to start a business, cutting licensing fees for frontline workers in healthcare and behavioral health fields, and reducing the cost of state parks passes to $29. Under the Governor’s leadership, people are saving money on health care and prescription drugs, and on their driver's license renewals.
About Colorado Office of Economic Development and International Trade
The Colorado Office of Economic Development and International Trade (OEDIT) works with partners to create a positive business climate that encourages dynamic economic development and sustainable job growth. Under the leadership of Governor Jared Polis, we strive to advance the State’s economy through financial and technical assistance that fosters local and regional economic development activities throughout Colorado. OEDIT offers a host of programs and services tailored to support business development at every level including business retention services, business relocation services, and business funding and incentives. Our office includes the Global Business Development division; Colorado Tourism Office; Colorado Outdoor Recreation Industry Office; Colorado Creative Industries; Business Financing & Incentives division; the Colorado Small Business Development Network; Cannabis Business Office; Colorado Office of Film, TV & Media; the Minority Business Office; Employee Ownership Office; and Rural Opportunity Office. Learn more at oedit.colorado.gov.
About Virta Health
Virta Health helps people reverse type 2 diabetes and other chronic conditions. Current
approaches manage disease progression through increased medication use and infrequent doctor visits. Virta reverses type 2 diabetes through innovations in technology, nutrition science, and continuous remote care from physicians and behavioral experts. In clinical studies, 94% of patients reduce or eliminate insulin use, and weight loss exceeds FDA benchmarks by nearly 150%. Virta works with the largest health plans, employers, and government organizations and puts 100% of its fees at risk based on clinical and financial outcomes. To learn more about how Virta is transforming lives by reversing type 2 diabetes and other chronic diseases, visit www.virtahealth.com or follow us on Twitter @virtahealth.