DCED will work with businesses on a case by case basis to determine local incentives with the county and municipalities. The State of Colorado provides a variety of incentives for businesses. In addition, Delta County is identified as an Enhanced Rural Enterprise Zone (EREZ), and as such businesses are eligible for additional tax credits from the State of Colorado. Please contact DCED for more information.
COLORADO ENTERPRISE ZONE PROGRAM / ENHANCED RURAL ENTERPRISE ZONE
The following State incentives assist in revitalization efforts throughout Delta County. The county is currently considered an Enhanced Rural Enterprise Zone which helps to include additional tax credits for the creation of new jobs. Delta County Companies may be eligible for various state income tax credits including:
• Investment tax credit (3%)
• Commercial Vehicle Investment Credit (1.5%)
• Job training tax credit (12%)
• New jobs tax credit (Up to $3100)
• Agricultural Processor New Employee (Up to $4100)
• Employer-sponsored health insurance plan ($1,000/net employee for two years)
• R&D tax credit (3 % of increased expenditure)
• Vacant Building Rehabilitation Tax Credit (25%)
• Manufacturing/Mining Sales and Use Tax Exemption
• Contribution Tax Credit (25% monetary / 12.5% in-kind contributions to EZ Projects)
The Strategic Fund supports and encourages new business development, business expansions and relocations that have generated new jobs throughout the state. The program provides a cash incentive commitment to businesses that create and maintain permanent new jobs for one year before receiving the incentive.
JOB GROWTH TAX INCENTIVE
The Job Growth Incentive Tax Credit is a performance-based job creation incentive program that provides a state income tax credit to businesses undertaking job creation projects that would not occur in Colorado without this program.
JOB TRAINING GRANT PROGRAMS
The Colorado First and Existing Industry grants are jointly administered by OEDIT and the Colorado Community College System. The state may be able to provide specific support to retain jobs or offers business-friendly tools that assist in retaining jobs for this grant.
The AI Infrastructure Funding program is to provide support to projects that develop the business infrastructure necessary to grow Colorado’s AIs. Colorado’s AIs are aerospace, advanced manufacturing, bioscience, electronics, energy, infrastructure engineering, and technology and information.
LOCAL GOVERNMENT INCENTIVES
Local governments can provide property tax credits or incentive payments based on the amount of increased property taxes for qualifying new business activity in their jurisdictions. City of Delta has an Incentive Policy for new and established businesses.
BIOTECHNOLOGY SALES AND USE TAX REFUND
Colorado promotes its biotechnology industries by providing them with a taxpayer-friendly means to recover the sales and use previously-paid tax expenses on equipment and supplies used for research and development.
MANUFACTURING SALES AND USE TAX EXEMPTION
Colorado encourages manufacturers to locate their manufacturing operations in Colorado, recognizing their importance to the state's economy. Colorado provides an exemption from state sales and use tax on purchases of manufacturing machinery, machine tools and parts.
SALES TAX EXEMPTION ON COMPONENTS FOR PRODUTION OF ENERGY FROM RENEWABLE ENERGY SOURCES
Components used in the production of electricity from a renewable energy source, including wind, are exempt from state sales and use tax. Components used in solar thermal systems are also exempt from state sales and use tax.
ADVANCED INDUSTRY INVESTMENT TAX CREDIT
The Advanced Industry Investment Tax Credit helps Colorado advanced industry companies receive capital from Colorado investors.
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.
Other Incentive Programs
COLORADO TOURISM MATCHING GRANT PROGRAM
CTO Matching Grant Program provides assistance to the tourism industry for marketing efforts.
FILM INCENTIVE PROGRAM
The Office of Film, Television & Media attracts and facilitates content creation in the state in order generate economic growth and job creation in all of its communities. The office administers a 20% performance-based rebate.
Delta County is currently applying to become a Rural Jumpstart Zone. The Rural Jump-Start Zone program (based on Senate Bill 15-282) is a tax relief program for new businesses and new hires who locate into certain designated areas called Jump-Start zones. The program offers the following benefits:
This program is jointly administered by OEDIT, the Colorado Economic Development Commission (EDC) and the Colorado Department of Revenue.
COLORADO CREATIVE INDUSTRIES GRANTS AND PROGRAMS
Colorado Creative Industries (CCI) is a division of the Colorado Office of Economic Development and International trade. CCI's mission is to promote, support and expand the creative industries to drive Colorado’s economy, grow jobs and enhance our quality of life.
Additional information available at http://www.advancecolorado.com/funding-incentives/incentives