Enterprise Zone Fact SheetSTATE INCENTIVES
Statewide Business Assistance
& Incentive Programs:
(all programs are listed in alphabetical order)
Bioscience Discovery Evaluation Grant:
The grant provides for matching funds up to $150,000 per project to support the development of life science technologies that come from new discoveries within Colorado's research institutions. This "proof of concept" investment occurs before the technologies are licensed or sold to a commercial company.
Certified Capital Companies (CAPCO's):
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.
Colorado Economic Development Commission:
This state entity has funds available for qualified projects. Funds may include grants, low interest, short-term loans, or an interest write down on a loan. Each project is considered separately on factors such as the number of jobs, salary levels, location, local participation, and resource availability.
Colorado FIRST and Existing Training Assistance:
Programs can be used to offset training costs other than the trainee's salary. Funding amounts available are based on training needs, salary levels, timetables, and available resources. The program is administered jointly by the Colorado Office of Economic Development (OED) and the Colorado Community College and Occupational Education System (CCCOES). This partnership strengthens the Colorado FIRST Customized Training Program goal: to promote and encourage
the expansion of existing Colorado companies or location of new businesses in Colorado by providing training assistance. Contact: NCEDC or Front Range Community College- Pat Bonazzoli (970) 204-8258.
Colorado Job Creation Fund (PIF):
The Job Creation Performance Incentive Fund (PIF) provides a performance-based incentive payment to qualifying companies that have created net new jobs paying above average wages. The program is designed to support and encourage new business development, business expansions and relocations that have generated new jobs throughout the state.
Infrastructure Assistance:
The infrastructure assistance program is designed to create new permanent jobs and retain existing jobs, primarily for low- and moderate-income persons. This program encourages new business development, expansions and retentions of businesses located in non-entitlement cities and counties (that shall minimize, to the extent practicable, displacement of existing businesses and jobs in neighborhoods).
Infrastructure:
The infrastructure program utilizes federal funds from the U.S. Department of Housing and Urban Development to construct or improve infrastructure. To receive the grants, companies must demonstrate that the project will create or retain lowand moderate-income jobs.
Manufacturing:
Tax exempt Colorado private activity bonds may be established a Colorado Venture Capital Authority. The VCA makes seed and early-stage capital investments from $250,000 to $3.3 million in businesses.
Venture Capital Authority (VCA):
The Colorado General Assembly in 2004 passed legislation that established a Colorado Venture Capital Authority (VCA). The VCA was allocated $50 million in premium tax credits, which it subsequently sold to insurance companies. In 2005, the VCA selected a fund manager (High Country Venture, LLC) and established
its first fund of approximately $25 million (Colorado Fund 1). Colorado Fund 1 will make seed- and early-stage capital investments in businesses. The VCA anticipates the establishment of a second fund of approximately $25 million in 2010.