The Strategic Fund supports and encourages new business development, business expansions and relocations that have generated new jobs throughout the state. The program provides a cash incentive commitment to businesses that create and maintain permanent new jobs for one year before recieving the incentive.
Job Growth Incentive Tax Credit
The Job Growth Incentive Tax Credit is a peformance-based job creation incentive program that provides a state income tax credit to businesses undertaking job creation projects that would now occur in Colorado without this program.
Colorado FIRST/Existing Industry Customized Training Program
The Colorado FIRST/Existing Customized Training 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 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:
- Investment tax credit (3 %)
- New jobs tax credit ($1,100/net new employee)
- Employer-sponsored health insurance plan ($1,000/net employee for two years)
- R&D tax credit (3 % of increased expenditure)
- Job training tax credit (12 %)
- Tax credit for rehabilitation of vacant commercial buildings (25 %)
Click here for more information.
Advanced Industries Accelerator Program was created in 2013 to promote growth and sustainablility in the advanced industries by helping drive innovation, accelerate commercialization, encourage public-private partnerships, increase access to early-stage capital, and create a strong ecosystem that increases the state's global competitiveness. Grants are available for proof-of-concept, early-stage capital and retention, infrastructure funding and advanced industries exports.
Advanced Industries Export Accelerator Program
Advanced Industries are prime drivers of the U.S. and Colordao economy, comprised of engineering and R&D intensive companies that deliver products and services in multiple industries. Colorado's advanced industries include: aerospace, advanced manufacturing, bioscience, electronics, energy, infrastructure engineering, and technology and information. The Colorado Office of Economic Development and International Trade offers the Advanced Industries Export Accelerator Program to connect Colorado companies to global opportunities. This program has three elements for companies in the advanced industries: Advanced Industries Export Grant, Global Consultant Network, and the Export Training Program.
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.
Biotechnology Sales and Use Tax Refund
Colorado promotes its biotechnology industries by providing them a taxpayer-friendly means to recover the sales and use previously-paid tax expenses on equipment and supplies used for R&D. 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 in R&D biotechnology.
Bioscience Discovery Evaluation Grants Program(BDEGP)
The BDEGP aids in the growth of the bioscience industry in Colorado. The program advances new technologies from the lab toward commercial products and services, supporting innovation, company formation, and job creation. The program provides gap funding to move novel technologies founded in Colorado research institutions down the commercialization path.
Aircraft Development Zone 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.
Sales/Use Tax Exemption on Aircraft and Aircraft Parts
The sale of a new or used aircraft to a person who is not a resident of Colorado for registration and primary use outside of the state is exempt from state sales tax.
Public Infrastructure Grants
The Infrastructure Assistance program is designed to create new permanent jobs and retain existing jobs, primarily in low and moderate income persons. This federally-funded program encourages new business development, expansions, and retention of businesses located in non-entitlement cities and counties.
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