Jefferson County EDC

County Incentives

Corporate Personal Property Tax Rebate
This program allows local counties, municipalities, and school districts to negotiate with new and expanding Colorado companies for corporate personal property tax rebates of up to 50 percent for up to four years. Jefferson Economic Council facilitates requests for program applicants in Jefferson County on behalf of the county and school district.

To qualify for a rebate, the project must fall in to one of the following categories:

New Business Facility–a newly acquired, constructed, or leased facility used to operate a revenue-producing enterprise.
Qualified Replacement Facility–a facility in which a business has invested at least $3 million or 300 percent of the investment in the old facility.
Qualified Expansion Facility–expansion qualifies under "new business facility," and the facility isn't a "replacement facility."

In addition, a company requesting a rebate must be a "primary employer," a company that sells a product or service outside the County (bringing new dollars into the County) and pay average salaries of over $33,394 (excluding top management). Jeffco EDC will also perform an economic impact analysis to show if the project will bring a positive revenue return to Jefferson County.

Calculating Rebate Amount
Industrial and commercial property is assessed for property tax purposes at 29% of market value. Jefferson County's mill levy is 25.978 mills. Because of the various special and school districts and incorporated cities and towns, total mill levies can vary. The average total mill levy in Jefferson County is about 98-100 mills. However, the rebate only applies to the mill levy portion collected by the negotiating entity, ie. county, municipality or school district.

Sample Calculation
The following is a sample formula for calculating the personal property tax rebate for the county's portion of the mill levy:

29% x market value of personal property x county's mill levy x 50%=
Yearly rebate for up to 4 years.

29% x $10 million in personal property x 25.978 mills or (.025978) x 50% =
$37,668 over 4 years = $150,672 (less depreciation)

Click for Corporate Personal Property Tax Rebate Application

Community Development Block Grants
Federal Community Development Block Grants (CDBG) from the Department of Housing and Urban Development (HUD) are set aside for business finance projects, including: loans, loan guarantees, equity investments, or infrastructure grants.

Jefferson County receives a small allocation for economic development activities in the County that meet HUD's requirements.

Business Capital of Colorado, Inc. is a multi-bank community development corporation that gives up to $50,000 loans to existing small businesses that cannot qualify for conventional bank financing. The revolving loan fund includes funding from CDBG monies.

Jefferson County Enterprise Zone Program
The Enterprise Zone is intended to assist with revitalization efforts in blighted areas throughout the state. Companies located within an established Jefferson County Enterprise Zone are eligible for various state income tax credits.

Investment tax credit (3 percent)
New jobs tax credit ($500/new employee)
Employer-sponsored health insurance plan ($200/employee for two years)
R&D tax credit (3 percent of increased expenditure)
Job training tax credit (10 percent)
Tax credit for rehabilitation of vacant commercial buildings (25 percent)

Private Activity Bonds
Manufacturers can apply for tax-exempt industrial development bonds allocated to the County to help finance construction of relocation and/or expansion projects under $10 million. Bond allocations can be used for the following: building, equipment, land, project "soft" costs (architects, engineers, attorneys, etc), landscaping, fixtures and furnishings, and cost to issue bonds. There is an application fee for the program. For additional information, call Jeffco EDC at 303-202-2965.