COLORADO INCENTIVES SUMMARY

Strategic Fund Job Growth Incentive
The Strategic Fund Job Growth Incentive program is a performance-based cash grant of up to $6,500 per net new job created in Colorado for a time period of up to five years. The program supports and encourages new business development, business expansions and relocations that have generated new jobs throughout the state. A significant capital investment of at least $100,000 per job is required, as is a local government incentive match. The Strategic Cash Fund also provides support for initiatives about key industries or regional development.

Job Growth Incentive Tax Credit
A performance-based tax credit equal to 50% of the Federal Insurance Contributions Act (FICA) paid by companies creating at least 20 new jobs in Colorado with an average wage of at least 100 percent of the county average wage. Companies locating in an Enhanced Rural Enterprise Zone must create at least five new jobs in Colorado with an average wage of at least 100 percent of the county average wage. New jobs must be in place for at least one year to be eligible for the tax credit. The tax credit period is eight years during which a company may claim annual tax credits. Companies that receive this program are not eligible for the Strategic Fund Job Growth Incentive.

Location Neutral Employment Incentive
Companies approved for the Job Growth Incentive Tax Credit may receive an additional cash incentive for each remote worker employed in an eligible rural county outside the county where the project is based. The amount available for each company is capped at $300,000.

Skill Advance Colorado Job Training Grant
The Skill Advance Colorado Job Training Grant is a customized training program for new jobs created via a relocation to or expansion in Colorado. Funding is distributed into the Colorado First funds and Existing Industry funds. Colorado First provides funds for net new hire training and focuses on companies relocating to or expanding Colorado. The Existing Industry customized training provides funding for incumbent worker training and adapting to new technology or prevent layoffs. Companies must invest at least 40 percent cash or in-kind contribution to the total costs of grant-funded training, and pay wages of at least $15 per hour in urban areas and $12.60 per hour in rural areas.