The Denver Office of Economic Development (OED) wants you to locate and grow your business in Denver. To assist you, we offer several business incentives to not only get you here but to keep you here.
Enterprize Zone Tax Credit
Denver participates in the
Colorado Enterprise Zone program, which provides state income tax credits for companies investing within certain geographical boundaries.
Economic Development Financing
Finding the money you need from the best possible source is an important consideration for any start-up or expanding business. OED will work with you to explain and review the various economic development financing programs available, including loans from the Small Business Administration (SBA), Industrial Revenue Bonds or Private Activity Bonds, and help determine which makes the most sense based on your situation and needs.
Job Creation and Capital Investment Incentives
Projects creating a significant number of new jobs operating in key, targeted industries will be considered on a case-by-case basis for business development incentives. These incentives are designed for businesses that are looking for a city to locate or expand their operations and are considering Denver, together with cities outside of Colorado.
Gap Financing
OED offers two programs that provide gap financing. “Gap” financing is used when the banks and business owner are unable to secure all of the funds necessary to complete the total project amount, leaving a “gap” between the two. In these situations, OED is able to provide the remaining funds.
This program can provide up to 25% of a project costs and must be located within specific geographical areas within Denver.
NBR Loan Program
This program can provide up to 50% of a project’s financing. The availability of this program is limited to specific geographic areas within Denver.
Job Creation Performance Incentive Fund and Enhanced Incentive Program
The Colorado Office of Economic Development and International Trade (OEDIT) offers various
incentive programs, including the
Job Creation Performance Incentive Fund. This program provides performance-based incentives to businesses that have created net new jobs, paying higher than average wages, and that have maintained such jobs for one year. After maintaining the net new jobs for one year, a business has 90 days from the last day of the month in which the jobs were filled to submit an incentive application. Incentives will be provided in the order in which the EDC receives complete, accurate and eligible applications (first come, first serve) until all program funds have been expended.
OEDIT provides administrative support for the Colorado Economic Development Commission (EDC). The EDC has oversight authority for both of these programs. To learn more about these programs, go to
www.AdvanceColorado.com or contact Shela Tatro in the Business Finance Division at 303-892-3840.