Article provided by: Jefferson Co. Economic Development (Denver West)
Colorado is one of the top business environments in the United States. The state is famed for opening welcoming arms to diverse businesses operating in both traditional and non-traditional sectors. Notably, the government supports these businesses with an astonishing number of rants, tax breaks, and other incentives. When you relocate your business to Denver, you can become a beneficiary of these business relocation grants in Denver if you know the right steps to take. The business relocation experts at Jefferson County Economic Development Corporation (JEFFCO EDC) can help you apply for Colorado business grant and tax credit incentive programs.
What are some of the grants available to businesses in Jefferson County?
Here are some of the grants that are available to businesses throughout Jefferson County:
Colorado First: This is a customized talent development program specially set up for businesses moving into or expanding in Colorado. The scheme provides job training and funding programs to support business growth while developing local talents’ marketability.
Enterprise Zone Tax Credits: Enterprise Zones in Colorado are areas that have been identified by the government as being economically underserved. Businesses that are brave enough to set up their operations it these zones get to enjoy significant tax breaks.
Job Growth Incentive Tax Credit: This is directed to businesses opening up new economic development sectors in Colorado. The grants for small businesses in Denver, CO, awarded under this scheme go to companies creating jobs that would not normally occur in Colorado without adequate government support.
Strategic Fund Incentive: Unlike the other Colorado small business resources on the list, the government only awards this incentive to businesses that have spent at least one year in Colorado. The performance-based scheme rewards businesses that can boast creating and maintaining permanent net new jobs for one year.
Advanced Industry Tax Credit: This grant provides assistance to existing and relocating companies in Colorado that are operating in any of the seven industries below:
- Advanced Manufacturing
- Energy and Natural Resources
- Information Technology
Businesses that qualify for this grant can get up to $750,000 in funding during the program duration.
EZ- Vacant Building Rehab: This grant supports the rehabilitation of buildings that are 20 years or older and have been vacant for 2 years or more for commercial use. The business sponsoring the rehabilitation gets up to 25% tax credit on the hard costs of renovation.
Colorado Capital Access- SSBCI: This business relocation grant in Denver gives small and medium-scale businesses in the state access to capital. The scheme utilizes a portion of public funds to encourage lenders and the state’s lending initiative for small businesses.
State Trade Expansion Program: A program set up for Colorado businesses who are already exporting or planning to export to a new international market. The state awards grants to offset ‘international business development and marketing costs’.
If you wish to benefit from these or any other Denver, CO, business relocation grants, do not hesitate to get in touch with JEFFCO EDC. Call us at 303.202.2965 to speak with a representative, and we’ll be glad to attend to your needs.
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