Type: Cash incentive
For: Businesses considering interstate competitive expansion or relocation projects in Colorado
Amount: Up to $6,500 per net new job
Time period: 5 years
The Strategic Fund Job Growth Incentive supports and encourages new business development, business expansions and relocations that have generated new jobs throughout the state. In some cases, the Strategic Fund may also be able to provide support for initiatives led by non-profit entities pertaining to key industries or regional development.
A business may receive funding if it proposes to create new jobs in Colorado that are maintained for at least one year. A business must also meet the requirements below:
- Strong level of local matching commitments ($1:$1 requested)
- Potential for economic “spinoff” benefits, such as attracting suppliers, generating tourism/travel activity, high prestige, or a large expansion initiative
- Capital investment, relative to the number of jobs
- Responds to a special local economic event, such as replacing recent lay-offs
- Inter‐state competitive factors
Additional consideration may be given to businesses that do not meet the Economic Development Commission‘s minimum 100% annual average wage rate requirement if additional criteria is met.