 Contact Us • Site Map • Search Become a Jeffco EDC Investor Today! |
State Incentives
Strategic Fund
The Strategic Fund provides a commitment for a performance-based incentive payment to qualifying companies that have created net new jobs paying above average wages that 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. For more information, please see the Strategic Fund Fact Sheet Job Growth Incentive Tax Credit The Job Growth Incentive Tax Credit provides a state income tax credit to businesses undertaking job creation projects that would not occur in Colorado without this program and that have created at least 20 net new jobs and pay above the county average wage. Colorado First and Existing Industry Program The Colorado First and Existing Industry Program helps basic industry employers with short-term, fast-track training for new employees or existing employees affected by major technological change. Training can be implemented in the company's own facilities or in special college training labs. Direct training costs that are eligible for reimbursement through this program include: instructor wages, travel and per diem allowances, development of curriculum and instructional materials, purchase of consumable training supplies, and lease of training equipment and space. Colorado Economic Development Commission The Colorado Economic Development Commission (EDC) was legislatively created in 1987 to encourage, promote, and stimulate economic development in Colorado, through the use of incentive and marketing funds. The EDC can provide interest rate write-downs, and low interest rate loans or subsidies to companies interested in locating to Colorado or Colorado companies considering relocating to another state. Proposals are considered based on project merit, quality of jobs, and economic impact to the state. Proposals are taken to the Commission after staff approval by the Colorado Office of Business Development. A local match is also required. The program amount allocated is determined on a case-by-case basis. Sales/Use Tax Exemption for Manufacturing Equipment Machinery or machine tools (Section 38 Property as defined by the IRS) over $500 are exempt from state sales and use tax (currently 3%) when the equipment will be used in a manufacturing process. Component parts, fuels and electricity, ink and newsprint, and packaging materials are also exempt for the state sales and use tax. All other local sales and use tax still applies to equipment purchases unless negotiated otherwise. For businesses located outside a state enterprise zone, the purchase must be capitalized. Cities may offer sales and use tax exemption depending on the project. The sales and use tax rates for cities in Jefferson County range from 2 to 3.75 percent. Click here for more information tax program. Corporate Personal Property Tax Rebate Effective in 1999, taxpayers may take a credit of $500 (or actual amount paid if less than $500) on Colorado income tax for local personal property taxes paid. If tax liability is over $500, an additional credit of 13.3 percent of personal property tax is allowed. Both credits are contingent upon a state surplus in a given fiscal year. Colorado Enterprise Zone Program This program 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 including:
School-to-Careers Investment Tax Credit Colorado taxpayers can claim a state income tax credit of 10 percent of their current year investment in a qualified school-to-work program that integrates school curriculum with job training. Eligible expenses include the following: wages, workers' compensation insurance, unemployment insurance, and training expenses to employ a student. Employee Recruitment and Screening Assistance Local- and state-supported employment and training programs can recruit, screen, and test potential job applicants based on a company's individual standards. A statewide computer system allows the various entities to share information on a company's employee needs and potential applicants. This system provides companies with a broader pool of potential employees. Job advertisements in local newspapers can also be coordinated. For additional information, call Jefferson Economic Council at 303-202-2965. Bioscience Discovery Evaluation Grant Program The Bioscience Discovery Evaluation Grant Program was created to foster development of the industry in Colorado, supporting both new business development and primary jobs. The program supports technology transfer and commercialization with grants to qualified research institutions and early-stage companies. Aircraft Manufacturing New Employee Tax Credit Aircraft manufacturers located in an aviation development zone may qualify for a state income tax credit of $1,200 per new employee. The facilities most have at least 10 or more employees to qualify for this tax credit Colorado Innovation Investment Tax Credit The Colorado Innovation Investment Tax Credit (CIITC) provides a state income tax credit to qualified investors that make investments during 2010 in small qualified Colorado businesses involved in R&D of manufacturing new technologies, products, or processes. Colorado Venture Capital Authority In 2004, the Colorado General Assembly passed a legislation that established a Colorado Venture Capital Authority (VCA). The VCA makes seed and early-stage capital investments in businesses from $250,000 to $3.375 million. Certified Capital Companies Program The Certified Capital Companies Program (CAPCO) was created to provide assistance in the formation of new and expanding businesses that create jobs in the state by providing funds to invest in Colorado businesses. The program encourages new business development and expansions of businesses by making a $75 million available for investment statewide. |
