The Strategic Fund Job Growth Incentive is designed to support business expansion or relocation projects in Colorado that are competing with at least one other state. To qualify, companies must secure a commitment of local government funding that matches any requested state government incentives. This incentive provides cash payments over five years to companies that create and maintain new permanent jobs in Colorado. Businesses must not start or announce the project until a final application is submitted and approved by the Colorado Economic Development Commission. Activities such as signing leases or hiring employees related to the project must wait until the application is approved.
Eligible businesses can receive up to $6,500 per net new job created, depending on the location and average wage rate. The program is rolling, meaning applications are accepted continuously. To be eligible, businesses must create permanent, full-time jobs, maintain them for at least one year, and secure a local matching commitment. The program also considers projects that respond to local economic events favorably, and businesses cannot receive both this incentive and the Job Growth Incentive Tax Credit for the same jobs.
