A stroke of a pen this week pumped $250 million into renovations for the National Western Stock Show complex, an enormous project that supporters say will create the “Silicon Valley of agriculture” in northeast Denver.

But officials admit there is still work left to do to secure the majority of the money needed to fund the $856 million project and that its realization will depend on Denver voters.

Gov. John Hickenlooper signed House Bill 1344 during a May 20 ceremony that was held inside the stock show arena. The law aims to transform the 106-year-old complex – known nationally for its annual stock show event in January – into a year-round attraction for agriculture, education and entertainment.

The law will fund the construction of Colorado State University agricultural and veterinary research facilities. The project will also include a state-of-the-art equestrian center and the building of a new and larger arena.

Supporters say the innovations will also bring entertainment and food festivals to the northeast part of town.

“This is very exciting for this part of Denver,” said Sen. Pat Steadman, D-Denver, a bill sponsor. Steadman used to represent the neighborhood prior to a recent redistricting. “If you go outside and look out into the parking lot and turn around and face toward the river and look downstream, you can see the future. You can see what’s coming for Denver.”

The bipartisan bill was hailed by urban and rural lawmakers, something that doesn’t often happen on such a large-scale, Denver-centric project as this.

“The opportunities we have here are phenomenal,” said Sen. Jerry Sonnenberg, R-Sterling, who was also a bill sponsor. “The excitement to have a food and health regional and worldwide center here is just one of the most exciting things I can be a part of.”

Other groups, including History Colorado and the Denver Museum of Nature and Science, are included as partners with CSU and the city of Denver.

But the fate of the project will not be up to any of these entities. Denver voters will be asked in November to extend existing tourism taxes, which come from lodging and car rental services.

The tax money will make up the lion’s share of the project’s funding, roughly more than $450 million.

Cary Kennedy, the city’s chief financial officer, said she is hopeful that voters will see the value of extending those taxes.

“Denver’s economy has been doing well and Colorado’s economy has been doing well,” she said. “The tourism taxes have been growing. If we just leave them in place, that’s the primary source of funds that will be used to finance this development of the National Western center.”

City officials will also seek to secure federal grants, but supporters know that voters will make or break the project.

“I am hopeful that Denver voters will see the value in a ballot initiative that will ultimately come forward to them,” said Rep. Crisanta Duran, a bill sponsor and a Democrat who represents northeast Denver. “The economic benefits of this project to the city and also to the state are tremendous.”

Supporters are embracing the “Silicon Valley of agriculture” label. Hickenlooper said the label is appropriate considering that the agricultural industry pumps more than $40 billion into the state’s economy and that Colorado is home to more than 35,000 farms and ranches.

“Sometimes you take a name like that, that fits,” Hickenlooper said. “And then, as long as you are willing to put in the investments and continue growing it, you continue to earn it.”

– Twitter @VicVela1