They’re known as second-stage companies, and they’re known for developing valuable products and services, creating jobs, enriching communities and building new industries throughout Colorado.

For their contribution to the state, The Colorado Office of Economic Development and International Trade are sponsoring the Colorado Companies to Watch award program, to celebrate successful, growing Colorado Companies.

More than 250 companies from all over Colorado participated and only 110 finalists were selected for the final round of judging.

Fifty companies will be selected for the 2009 award.

Unlike other programs it is truly a statewide effort, seeking nominations from every community; and it is not industry specific, the winners will represent a broad range of economic sectors. Companies “special strengths” will set winners apart from finalists: they stand out in their industry or region, a great place to work and community involvement, according to Don Elliman, Director Colorado Office of Economic Development & International Trade.

“We recognize the great value they each bring to Colorado, and thank them for their contribution to our success now and in the future. Together Colorado will not only survive, we will grow in a positive and sustainable way,” Elliman said in a press release.

“Congratulations to all the finalists on their accomplishment of being named a Colorado Company to watch.”

Second-stage companies fuel the economic fire of Colorado by accounting for much of the economic growth and economic independence of individuals throughout the state.

High-performance, second-stage companies account for most of the economic growth, community development and economic independence in the state.

The awards program is designed to seek businesses from every industry and every community throughout the state, not just the major metropolitan areas. The companies selected each year make an astounding impact on Colorado's economy by collectively providing thousands of jobs and contributing millions of dollars of revenue. In short, they tell a compelling story about the state's diverse economic landscape.

The 50 top Colorado Companies to Watch will be honored at official festivities on June 25. Being an honored company will provide the opportunity to gain increased visibility locally, statewide and nationally, the press release said.

The state of Colorado will be able to showcase trend-setting leaders in diverse entrepreneurial fields that strengthen the state’s economy.

For more information visit, www.Colorado.CompaniestoWatch.org.