The State of Colorado offers a host of incentives for entrepreneurs and businesses of all sizes. Colorado has low taxes and business costs, provides performance-based incentives to qualifying companies that create new jobs, and offers customized training grants.
Please see our extensive list of state incentives:
- Job Growth Tax Incentive – 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.
• Strategic Fund Incentive – The Strategic Fund Incentive program supports and encourages new business development, business expansions and relocations that have generated new jobs throughout the state. In some cases, the Strategic Fund may also be able to provide support for initiatives led by non-profit entities pertaining to key industries or regional development.
• Enterprise Zone Tax Credits – Colorado’s Enterprise Zone (EZ) program provides tax incentives to encourage businesses to locate and expand in designated economically distressed areas of the state. Info on Northwest Enterprise Zone which includes Jackson County and portions of Grand County.
• Local Government Incentives – Local governments can provide property tax credits or incentive payments based on the amount of increased property taxes for qualifying new business activity in their jurisdictions.
• Job Training Grant Programs – The Colorado First and Existing Industry grants are jointly administered by OEDIT and the Colorado Community College System. The state may be able to provide specific support to retain jobs or offers business-friendly tools that assist in retaining jobs (such as the Enterprise Zone Program) for this grant.
• Public Infrastructure Grants – The Infrastructure Assistance program is designed to create new permanent jobs and retain existing jobs, primarily for low‐ and moderate‐income persons. The state may be able to provide specific support to retain jobs or offers business-friendly tools that assist in retaining jobs (such as the Enterprise Zone Program) for this grant.
• Biotechnology Sales and Use Tax Refund – Colorado promotes its biotechnology industries by providing them with a taxpayer-friendly means to recover the sales and use previously-paid tax expenses on equipment and supplies used for research and development.
• Manufacturing Sales and Use Tax Exemption – Colorado encourages manufacturers to locate their manufacturing operations in Colorado recognizing their importance in Colorado’s economy. Colorado provides an exemption from state sales and use tax on purchases of manufacturing machinery, machine tools and parts.
• Aviation Development Zone Tax Credit – A business or any portion of a business that is involved in the maintenance and repair, completion or modification of aircraft located within the boundaries of an airport designated as an Aviation Development Zone may qualify for a state income tax credit of $1,200 per new full-time employee.
Towns throughout the region offer a variety of incentive programs to help existing businesses suceed, and help new businesses get started. Here is a listing of those programs:
- Town of Vail – 2015 Storefront Incentive Program. The road to the 2015 World Championships will include one-time financial incentives for businesses pursuing storefront improvements. “The Road to 2015….Fix It. Paint It. Clean It. Improve It.” program provides financial incentives to commercial building owners and tenants to complete certain functional and aesthetic exterior and interior building improvements within and around Vail Village, Lionshead and the East and West Vail retail areas. The program runs from March 1 – December 15, 2014.
- Town of Silverthorne – Business Improvement Grant Program / Enhanced Sales Tax Incentive Program / Energy Smart Program
- Northwest Enterprise Zone – Administered by Associated Governments of Northwest Colorado (AGNC). Includes Jackson County and portions of Grand County. State Enterprise Zone status provides businesses located in the designated area tax credits against their state income tax liability. Credits are earned for investment in business personal property, investment in job training, adding employees, providing health care benefits, increased R&D expenditures and rehabilitating vacant buildings for commercial use. Contributors to approved non-profit organizations also receive income tax credits when donating to economic development projects.
Summit County Towns offers program to help businesses save costs and energy – The towns of Frisco, Dillon, Silverthorne, and Breckenridge all offer program which provide local businesses with opportunities to save on energy and other business costs, create sustainable business practices, and reduce the community’s carbon footprint. By joining this program, businesses may receive the following FREE:
- On-site sustainability assessment and energy audit
- Comprehensive report of the findings with recommendations for improvements
- Coaching from High Country Conservation Center expert staff
- Up to $400 in rebates to help fund a green project of your choosing
- Positive recognition and advertising as a certified sustainable business