Denver Business Investment Program

Denver Economic Development & Opportunity (DEDO) is now accepting applications for a tax credit that reduces business personal property tax bills. Businesses that invested in new or expanded operations in 2024 and meet the program’s eligibility criteria may qualify for this credit through the Denver Business Investment Program. The credit covers the Denver General Fund portion of business personal property taxes for up to four years, starting when the property is placed in service. Eligible property includes office equipment, communication tools, fixtures, and machinery used in construction and manufacturing — replacement equipment is not eligible.

Businesses are encouraged to apply if they are:

• A new business (start-up) is eligible to apply.
• A business new to Denver that relocated from outside Denver or added a new facility in Denver is eligible to apply.
• An existing business already located within the City and County of Denver, through expansion, that made significant capital investments and/or job creation is eligible to apply. Your business must have met at least ONE of these expansion requirements in 2024 to qualify:
  • Your increased investment was at least $1 million in business expansion;
  • Your increased investment was at least 100% of your prior business capital level;
  • You increased by at least 10 employees over your preceding 12‐month average; or
  • You increased by at least 10 percent employees over your preceding 12‐ month average.

Eligibility for the tax credit will be determined by compliance with Chapter 53, Article XVI, D.R.M.C. 

If your business is eligible:

 Qualifying businesses will enter into an agreement with the City & County of Denver that will set forth the terms and conditions upon which they may receive a tax credit. 

 This agreement must be executed prior to October 1, 2025 or the tax credit eligibility may be forfeited. Once the four-year agreement is executed, you do not have to complete an application each year. If you do make additional investments (more jobs, more equipment, more space) in subsequent years, you will need to complete another application. Replacement equipment does not qualify for the credit.

Please note: Submitting your application for this tax credit does not substitute for your annual filing of a Personal Property Declaration Schedule with the Assessor’s Office.

Applications are open until Wednesday, July 2, 2025.

Apply Today! 

How can this credit benefit me?

Historically, this credit reduces your business personal property tax liability on qualifying equipment between 10% and 13% of Denver's combined general millage for a four‐year period. This credit can save your business money. Because a business’s type of equipment factors into the value of the assets and its location determines the total mill levy, we can’t tell you exactly what your business can save, but you may visit the Denver Assessor’s Office website and click on “Valuation Tables” for instructions on how to calculate your potential savings. Denver’s annual summaries of levies can be found here at "Abstracts (Mill Levies)." Use the General Fund mill levy and any other applicable taxing district mill levies in your calculation.

Please note: Independent of this program, businesses with a total actual value of business personal property greater than $56,000 must submit a declaration of all owned assets as of January 1 to the Assessor’s Office by April 15, 2025. You can use the declaration you submitted to the Assessor’s Office for this program by uploading it with your application.  

How is my business personal property tax credit calculated?

The tax credit available to qualifying businesses will be calculated based on the amount of taxes that would have been owed on any newly added, eligible business personal property directly attributable to the operations of the new or expanded business facility. The credit is in the amount of the General Fund portion (see paragraph above) of the taxes upon the businesses' taxable personal property assessed by the City & County of Denver. Businesses will be billed for the remaining amount of property taxes they owe. As the personal property depreciates, its taxable value would also decrease, and with it, the associated tax liability and tax credit over the four-year agreement period.