Colorado Tax Incentives
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Colorado Tax Incentives
Page Contents
- Advanced Industry Infrastructure Funding
- Assistive Technology Demonstrations
- Assistive Technology Finder
- Assistive Technology Funding Sources
- Business Loan Funds
- Cash Collateral Support
- Certified Capital Companies Program
- Colorado Association of Commerce and Industry
- Colorado Aviation Development Zone Tax credit
- Colorado Division of Vocational Rehabilitation – Services for Employers
- Colorado's Enterprise Zone Tax Credit Program
- Colorado FIRST / Existing Industry Customized Training Programs
- Colorado’s Office of Economic Development and International Trade
- Job Growth Incentive Tax Credit
- Job Growth Incentive Tax Credit-Higher Education Partnership
- Microsoft Accessibility Resource Center
- Pikes Peak Workforce Center (PPWFC)
- Rural Jump-Start Zone Program
- Strategic Fund
- Telecommuting Program
Advanced Industry Infrastructure Funding
This grant used funding to accelerate commercialization and innovation of advanced industry products and services by building capacity and workforce for the advanced industries ecosystem. The application for this grant is open twice a year in the spring and fall.
Assistive Technology Demonstrations
Device Demonstrations are available to the larger community including consumers and their family members, advocates, employers, service providers and educators. Demonstrations include an explanation of the function of the devices as well as instruction in its use. The intent is for individuals to have “guided exploration” of a specific device or category of devices that may clarify the advantages that technology can offer.
Device Demonstrations are free, but individuals must contact Assistive Technology Partners to set up an appointment.
Assistive Technology Finder
This web-based technology exchange program assists individuals in obtaining new or used assistive technology devices or equipment for little or no cost.
Assistive Technology Funding Sources
AT Funding Sources is a searchable online database tool. It assists with locating needed funding to purchase AT devices and services for their specific needs.
Business Loan Funds
Every year, the State of Colorado receives an allocation of federal funds from the Department of Housing and Urban Development (HUD) to use for both community development and economic development efforts. The Colorado Office of Economic Development receives approximately one-third (1/3) of the annual allocation of funds to use specifically for economic development efforts statewide.
The state has 15 Business Loan Fund locations which have service areas covering the majority of the rural areas only. The fifteen programs are responsible for promoting and fostering economic development efforts at the local level by providing financial assistance in the form of loans and loan guarantees to businesses in their respective regions.
Capital from these loans can be used for job creation and retention for people with disabilities, who as a group tend to have a low employment rate. Jobs brought forth as a result of these loans could help end this distressing cycle of unemployment for this population.
Business Loan Funds Fact Sheet PDF
Cash Collateral Support
Cash Collateral Support (CCS) creates greater access to capital for small and medium sized businesses operating in Colorado that are experiencing difficulty securing credit due to collateral shortfalls. CCS uses small amounts of public resources to encourage private lender financing. The program provides a deposit of cash as collateral for a business loan or credit facility when a business cannot meet the lender’s collateral requirements.
Certified Capital Companies (CAPCO) Program
The CAPCO Program was created by the Colorado Legislature with the goal of making venture capital funds available to new or expanding small businesses throughout Colorado.
Part of the expansion created by this funding can be employment opportunities for workers with disabilities.
Colorado Aviation Development Zone Tax credit
A business or any portion of a business that is involved in the maintenance and repair, completion or modification of aircraft located within the boundaries of an airport designated as an Aviation Development Zone may qualify for a state income tax credit of $1,200 per new full-time employee.
The employees that a company hires to be eligible for this provision could be workers with disabilities who have knowledge and expertise in the field of aviation.
Colorado Aviation Development Zone Tax Credit Fact Sheet PDF
Colorado Association of Commerce and Industry
The Colorado Association of Commerce and Industry champions free enterprise, a healthy business environment and economic prosperity for all Coloradans.
The Colorado Association of Commerce and Industry is the only business association that works at the Colorado State Capitol to improve the business climate for all sizes of business from a statewide, multi-industry perspective.
Colorado Division of Vocational Rehabilitation (DVR)
The Division of Vocational Rehabilitation is the best resource for enhancing and building the diversity of the Colorado labor force and should be an integral part of any employer’s search for qualified, skilled career employees. Employers are supported by a seasoned, professional team that specializes in matching the best talent with the right jobs.
This web page has a map of Colorado with pins marking the locations of DVR offices. Click on a pin to get the contact information for a particular office.
Colorado’s Enterprise Zone Tax Credit Program
Colorado's Enterprise Zone program provides tax incentives to encourage businesses to locate and expand in designated economically distressed areas of the state.
Very often, people with disabilities live in urban areas that are depressed and in need of revitalization. Hiring disabled individuals from these zones would reverse the unemployment trend among this population and give their neighborhoods a much needed lift.
Colorado Enhanced Rural Enterprise Zone Program Fact Sheet PDF
Enterprise Zone Program Fact Sheet PDF
Colorado FIRST / Existing Industry Customized Training Programs
These programs increase transferable job skills that support both the company’s economic competitiveness and enhance worker’s resumes and long-term employment opportunities.
- Colorado FIRST grants are for companies that are relocating to or expanding in Colorado and provide funds only to net new hires. Deadline for applications: July and December
- Existing Industry grants focus on helping established Colorado companies to remain competitive within their industry, adapt to new technology and prevent layoffs. Deadline for applications: July and December
Through these programs, employees with disabilities can gain the skills needed to get a job and successfully advance in their career.
Existing Industry Training Fact Sheet PDF
Colorado’s Office of Economic Development and International Trade
The Office of Economic Development and International Trade fosters a positive business climate that encourages quality economic development through financial and technical assistance throughout the State of Colorado. This site is also Colorado’s Headquarters for the American Recovery and Reinvestment.
Job Growth Incentive Tax Credit
Businesses need to create at least 20 new jobs in Colorado, with an average yearly wage of at least 110% of the county average wage rate based on where the business is located. A business located in an Enhanced Rural Enterprise Zone has to create at least five new jobs in Colorado, with an average yearly wage of at least 110% of the county average wage. All new jobs must be maintained for at least one year after the positions are hired to qualify.
The intention of the Job Growth Incentive Tax Credit is to create more jobs in Colorado. Creating jobs for workers with disabilities would be an appropriate use of it.
Job Growth Incentive Tax Credit Fact Sheet PDF
Job Growth Incentive Tax Credit-Higher Education Partnership
A program for businesses partnering with State Higher Education Institutions (HEI) to support job growth, academic development and economic expansion.
Microsoft Accessibility Resource Center
A Microsoft Accessibility Resource Center provides expert consultation on assistive technology and accessibility features built into Microsoft products. Their specialists understand how disabilities impact computer users and are trained to evaluate the needs of the person with the disability. Some centers offer computer training and many organizations have lending libraries, so a consumer can try a product before purchasing it.
Pikes Peak Workforce Center (PPWFC)
The Pikes Peak Workforce Center (PPWFC) supports business and promotes employment by providing market-driven solutions for our community to succeed in the global economy. PPWFC helps businesses solve their workforce-related business problems and helps residents of El Paso and Teller counties with career transition.
For employers the Center provides skilled, qualified workers – some of whom are disabled - and access to the training and consulting they need to improve and increase their business. PPWFC links employers and job seekers faster than ever before.
PPWFC helps businesses solve workforce-related problems using the following resources:
- Recruiting, job matching, performance coaching, hiring events and job posting
- Specialized training for workers and supervisors
- Financial and tax credits services
- Labor market information
- Hiring veterans
Any business in Colorado interested in hiring someone with a disability should contact PPWFC.
Rural Jump-Start Zone Program
The Rural Jump-Start Zone Program provides specific tax relief to New Businesses and New Hires of these businesses that are located in certain economically distressed areas of rural Colorado and align with local or regional state higher education institutions to promote economic development in these areas.
The job creation fostered by this program can mean more employment opportunities for job seeking residents of these zones, including the ones who have disabilities.
Strategic Fund
The Strategic Fund Cash Incentive program supports and encourages new business development, business expansions and relocations that have generated new jobs throughout the state. In some cases, the Strategic Cash Fund may also be able to provide support for initiatives led by non-profit entities pertaining to key industries or regional development.
One of the objectives of this program is to encourage business development and expansion. Part of the development could be jobs for employees with disabilities.
Telecommuting Program
Teleworking or telecommuting allows employees to work from home or another off-site location either part-time or on a full-time basis. Employees are "hooked" up to the office usually by computer, fax and telephone to communicate with their employers.
Benefits of teleworking include: Increased employee productivity by eliminating the hassles of driving to and from the office; savings for employers on office space and parking costs; reduced absenteeism; recruitment and retention of skilled employees with disabilities; improved customer service; reduced traffic congestion and improved air quality.
Telecommuting is a viable alternative to working in a traditional office setting, especially for a worker with a disability. With telecommuting, a person can work from home without the stress of a daily commute to work.
