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State Incentives

The state of Colorado offers several incentive programs that can be utilized to assist businesses:

 Job Creation         Tax Credits 
 Training          Venture Capital
 Project Assistance  

Job Creation

Strategic Fund - This program provides a commitment for a performance-based incentive payment to qualifying companies that have created net new jobs paying above average wages or have met other requirements. The program is designed to support and encourage new business development, business expansions and relocations that have generated new jobs throughout the state. » Fact Sheet

The Job Growth Incentive Tax Credit - This program provides a state income tax credit to businesses undertaking job creation projects that would not occur in Colorado without this program. » Fact Sheet
 

Training

Colorado FIRST and Existing Industry Program - These grants are jointly administered by the Colorado Office of Economic Development & International Trade (OEDIT) and the Colorado Community College System (CCCS). » Fact Sheet

  • Colorado FIRST grants are for companies that are relocating to Colorado or existing companies that are undertaking a major expansion.
  • Existing Industry grants are designed for Colorado companies that are implementing new technology to remain competitive and keep jobs in Colorado. Approved training is for transferable job skills that support the company's economic competitiveness by re-training its workers in new skills while also enhancing the workers' resumes and long-term employment opportunities. 

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Project Assistance

The Colorado Economic Development Commission (EDC) - The Colorado Economic Development Commission (EDC) was created by the legislature to promote economic development in Colorado. The EDC approves loans and grants from the economic development fund to public and private entities throughout the state to help existing businesses expand and new companies locate to Colorado. It also implements marketing programs to support ongoing business activities. All policy and funding decisions are made by commission members. The commission is also responsible for policy decisions concerning the state Enterprise Zone program. » Click here to view EDC Annual Reports

Planning and Feasibility Study Grants - This grant program is designed to provide funding to determine the feasibility of a project or to plan for a project that will be located in Colorado. Such projects will need to meet an economic development objective and, if implemented, will need to create new permanent jobs and/or retain existing jobs primarily for low- and moderate-income persons. » Program Application Guidelines

Bioscience Discovery Evaluation Grant Program - Aims to foster growth of the state's bioscience industry by expanding bioscience research and accelerating development of new products and services. Program funding is disbursed through Proof-of-Concept grants, Early-State Bioscience Company grants, and research institution grants for infrastructure development. » Program Application Guidelines and Forms

Infrastructure Assistance Program - The infrastructure program utilizes federal funds from the U.S. Department of Housing and Urban Development to construct or improve infrastructure. To receive the grants, companies must demonstrate that the project will create or retain low- and moderate-income jobs. » Fact Sheet

Manufacturing Revenue Bond Program - Tax exempt Private Activity Bond financing may be available for qualified manufacturing projects. Funds can be used to finance real estate and equipment purchases. » Program Application Guidelines

Clean Energy Fund Grants - The Governor's Energy Office awards New Energy Economic Development (NEED) grants to promote emerging energy efficiency and renewable energy technologies. » Program Information
 

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Tax Credits

Biotechnology Sales and Use Tax Refund - Qualified taxpayers may seek a refund every year for all Colorado sales and use taxes they paid on purchases of tangible personal property used directly and predominately in research and development of biotechnology. This includes property such as microscopes, chemical reagents, and software. The refund helps promote the biotechnology industry in the state, aiding both start-up and established companies. » Filing Procedures and Forms
 
Colorado Aviation Development Zone Tax Credit - Aircraft manufacturers located in a Colorado aviation development zone may qualify for a state income tax credit of $1,200 per new employee. » Fact Sheet

Enterprise Zones - The Enterprise Zone Program provides tax credits for private enterprise to expand and for new businesses to locate in economically distressed areas of Colorado as designated by the Colorado Economic Development Commission (EDC). Businesses located in a zone may qualify for ten different Enterprise Zone Tax Credits and Incentives to encourage job creation and investment in Colorado. » Additional Enterprise Zone Information

Qualifying Therapeutic Discovery Projects - A tax credit provided under new section 48D of the Internal Revenue Code (IRC), enacted as part of the Patient Protection and Affordable Care Act of 2010 (P.L. 111-148). The credit is a tax benefit targeted to therapeutic discovery projects. » Application Details 

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Venture Capital

Certified Capital Companies Program (CAPCO) - The CAPCO Program was created by the Colorado Legislature with the goal of making venture capital funds available to new or expanding small businesses throughout Colorado. » Fact Sheet

Colorado Venture Capital Authority (VCA) - The Colorado General Assembly passed legislation that established a Colorado Venture Capital Authority in 2004. In 2005, the VCA selected a fund manager (High Country Venture, LLC) and established its first fund of approximately $25 million (Colorado Fund I), and in 2010 established a second fund of approximately $25 million (Colorado Fund II) which is also managed by High Country Venture, LLC. These funds make seed- and early-stage capital investments in businesses. High Country Venture is independently operated and generally makes funding decisions. State approval is limited to ensuring that businesses receiving funding meet minimum specified requirements. The minimum and maximum investment size generally ranges from $250,000 - $3.375 million. » Fact Sheet 

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