Economic Incentives & Tax Credits
High impact incentives for small businesses in Colorado
When companies choose to do business in Colorado, they know that it means that they’ll be able to tap into our invigorated workforce, partner with innovative executives and collaborate with a business-friendly government that has their bottom line in mind. The Colorado Office of Economic Development and International Trade (OEDIT) in the Governor’s Office is the primary entity responsible for promoting economic development within the state. Colorado offers over 100 programs and funding opportunities to businesses within the state.
Top tax incentive programs for small and medium-sized businesses in Colorado
Disproportionately Impacted Business (DIB) Relief Program (Colorado)
Strategic Fund Job Growth Incentive
A business may receive funding if it proposes to create new jobs in Colorado that are maintained for at least one year.
Job Growth Incentive Tax Credit
This program provides a state income tax credit equal to 50% of the Federal Insurance Contributions Act (FICA) paid by the business on the net new job growth for each calendar year in the credit period.
Enterprise Zone Job Training Tax Credit
Businesses located within enterprise zones can earn a state income tax credit of 12% of eligible job training costs for employees working within the enterprise zone.
Enterprise Zone New Employee Tax Credit
Businesses earn a state income tax credit of $1,100 per net new employee that works at a qualified enterprise zone business facility.
Enterprise Zone Sales and Use Tax Exemption for Manufacturing and Mining
The Enterprise Zone Manufacturing Sales and Use Tax Exemption for Manufacturing and Mining eligibility to non-capitalized machinery, parts and tools to repair machinery, and to machinery used in mining.
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Subcity empowers small businesses, CPAs, and finance professionals to identify and apply for economic incentives and tax credits. Each year, over $100 billion is allocated for incentives across local, state, and federal programs in the U.S. Unfortunately, a significant portion of this money goes unclaimed or to large corporations with teams of tax attorneys and legal experts.
Subcity utilizes a comprehensive database of incentives to connect small businesses with the programs that were designed to help them create jobs, invest in their communities, and grow their business. Subcity charges a 10-20% fee for the programs they successfully secure, ensuring zero risk for clients as payment is contingent on results. Subcity is on a mission to democratize access to capital for America’s small businesses and has already delivered tens of millions of dollars in tax incentives for clients across the country.