Colorado

Sectors it is courting

• Aerospace and Defense
• Information and Communication Technology
• Cleantech/Clean Energy
• Healthcare
• Food and Beverage
• Financial Services
• Business and Professional Services

Investment it is seeking from

• Australia
• Canada
• France
• Germany
• Japan
• Israel
• India
• Singapore
• South Korea
• United Kingdom

Supply-chain projects it is looking for

Critical Minerals and Materials, Electric Vehicles (EVs), Large Capacity Batteries, Medical Devices, Semiconductor Manufacturing and Advanced Packaging

Site-selection services it offers

The Colorado Office of Economic Development & International Trade can help businesses to make proper decisions, apply for eligible incentives and grants, and find suitable business locations. Colorado can make introductions to local communities, businesses, and other organizations; help organize market tours; provide custom research on the local and comparative markets; and engage in customized real estate searches.

Incentive programmes

• Grant

  The Strategic Fund Job Growth Incentive is for business expansion or relocation projects for which Colorado is in competition with at least one other state and the company has received a commitment of local government funding that matches any requested state government incentives. The incentive provides a cash payment over five years to companies that create and maintain new permanent jobs in Colorado. Cash incentives range from $3,000 to $6,500 per eligible job, with the incentive amount depending on the number of jobs created, wages of the jobs, and if the jobs are located in an Economically Disadvantaged area. These locations include Enterprise Zones, Opportunity Zones, Rural Jump-Start counties, and select just transition counties (Delta, Gunnison, Moffat, Montrose, Morgan, Pueblo, Rio Blanco, and Routt). New jobs created in eligible Just Transition counties get the maximum $6,500 per eligible job.

• Tax Credit

  The Job Growth Incentive Tax Credit is an eight-year job creation incentive and provides a state income tax credit equal to 50% of the Federal Insurance Contributions Act (FICA). It is paid by the business on the net new job growth for each calendar year in the credit period. This incentive supports competitive, multi-state or country relocation and expansion projects. It is performance-based, meaning companies that underperform in job creation or wages will not receive the total credit amount. If the issued tax credits exceed the business’s income tax liability for the tax year in which the credit is being claimed, the amount of the unused tax credit will not be given as a refund. However, it may be carried forward and applied in each of the 10 succeeding income tax years. The tax credit must be applied to the earliest tax return possible. All companies who receive this tax credit will also be eligible for the Location Neutral Employment (LONE) Incentive, which is a cash incentive for all net new remote rural employees that support the urban project.

• Other

  The Skill Advance Colorado Job Training Grant (formerly the Colorado First and Existing Industry Grant) helps businesses and nonprofits create customized job training for employees. The training develops Colorado’s workforce, builds workers’ transferable skills, improves workers’ resumes and long-term employment opportunities, and helps Colorado businesses remain competitive. The funds are broken down into Colorado First funds and Existing Industry funds. Colorado First grant funds customized training only for net new hires at companies relocating to or expanding in Colorado. Existing Industry grant funds customized training to help established Colorado companies and nonprofits remain competitive in their industry, adapt to new technology, and prevent layoffs. We alongside the Colorado Community College System jointly administer this program. Participating colleges manage the program.

Technology-sector sub-sectors sought

AgTech (including FoodTech), CleanTech, FinTech, HealthTech (including MedTech), ICT (including Software / Cybersecurity / AI)

Programmes for international technology startups

Advanced Industries Accelerator program includes several grants (proof of concept, early-stage capital and retention, and collaborative infrastructure) and investment tax credits which are designed to promote growth and sustainability in these industries by helping accelerate commercialization, encourage public-private partnerships, increase access to early-stage capital and create a strong ecosystem that increases the state’s global competitiveness. The Advanced Industries Accelerator program is available for companies developing solutions in any one of Colorado’s seven advanced industries, which include advanced manufacturing, aerospace, bioscience, electronics, energy and natural resources, infrastructure engineering, and technology and information.

Investor account, as submitted

In November 2022, space resources startup Karman+ selected Denver, Colorado for relocation from the Netherlands. Here is what Daynan Crull, Co-Founder of Karman+ had to say on why Colorado was the best choice for them: “We embrace adventure as a core value and it's apparent that Colorado shares this spirit of adventure as well. The State of Colorado and the City of Denver have shown us their support for space exploration, which benefits not only us but an ecosystem of companies, research institutions, and organizations in the space domain with whom we hope to partner. We already knew Colorado is a great place to live; we are now convinced that it's the right place to grow our business and find our people.”

Submitted by the economic development organisation, not independently verified.

Who to contact

• Caitlyn RothMarket Engagement Managercaitlyn.roth@state.co.us7205018854
• Mike LandesSenior Business Development Managermike.landes@state.co.us

1600 Broadway, Suite 2500, Denver, CO 80202