Incentives and Financing
The Denver South Economic Development Partnership welcomes the opportunity to work with new and expanding businesses in our region. Our organization works closely with The State of Colorado Office of Economic Development & International Trade (OEDIT), the Metro Denver Economic Development Corporation and local government to support and assist companies with site selection and expansion in Colorado. Information on incentive programs and support most commonly used in our region are listed below.
Likewise, Colorado has low taxes and business costs, provides performance-based incentives to qualifying companies that create new jobs and offers customized training grants.
Meanwhile, at the local level, incentive packages are granted case-by-case via local jurisdictions. These incentives are considered based on employee count, wages, and industry type. Transportation amenities may also be available.
Several incentive programs includes:
Job Growth Incentive Tax Credit (JGITC)
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.
Job Growth Incentive Tax Credit (JGITC) / Higher Education Partnership (HEP)
The HEP is a performance – based job creation incentive program centered on companies partnering with State Higher Education Institutions to support job growth, academic development and economic expansion.
Strategic Cash Fund
The strategic fund is a cash incentive commitment to businesses that have met certain requirements under the Economic Development Commission (EDC) Strategic Fund.
Job Training Grant Programs
The Colorado First and Existing Industry grants are jointly administered by OEDIT and the Colorado Community College system. The Denver South region works closely with Arapahoe Community College on this program.
Business Personal Property Tax Rebate Incentive
This rebate incentive is available from County governments. The County Commissioners have the authority to approve a rebate of up to 100% of the County portion of the assessed tax for a period of thirty-five years (changed from 10 years in 2014 legislature).
Workforce and Customized Staffing Services
Denver South EDP works closely with Arapahoe/Douglas Works! Services include:
- Providing timely and accurate labor market information.
- Customized staffing services (recruitment, screening, assessments)
- Hiring events
- Services are provided to employers and job seekers at no cost. The Department of Labor provides much of the funding for the workforce center.