Local, county & state incentives
Colorado offers performance-based incentive programs that focus on entrepreneurs as well as new and expanding businesses. That, coupled with the state’s low cost of doing business, makes Colorado a very desirable location for business leaders.
Local, County, and State Incentives
Local
The Town of Berthoud has designed several programs to encourage high-quality primary job creation and private sector investment, the Town of Berthoud has established incentive guidelines for businesses looking to expand in Berthoud, or those new to the area.
County
The Town of Berthoud spans both Larimer and Weld Counties. Qualifying businesses are evaluated on the overall economic impact including capital investment, employment growth, and wage levels for jobs being created within the counties.
State
The Colorado Office of Economic Development & International Trade (OEDIT) seeks to advance the state’s economy through financial and technical programs under the leadership of the Governor and Executive Director.
State & Federal Incentives Specific to Berthoud
The Strategic Fund Job Growth Incentive is for business expansion or relocation projects for which Colorado is in competition with at least one other state and the company has received a commitment of local government funding that matches any requested state government incentives. The incentive provides a cash payment over five years to companies that create and maintain new permanent jobs in Colorado.
The Job Growth Incentive Tax Credit is an eight-year job creation incentive to support competitive, multi-state, or country relocation and expansion projects. The tax credit gives businesses a Colorado state income tax credit equal to 50% of the FICA (Federal Insurance Contributions Act) tax paid by the business per net new job for each calendar year in the credit period.
Companies located in Berthoud’s Enterprise Zone are eligible for:
- state income tax credits and sales and use tax exemptions for specific business investments
- economic development projects form by incentivizing taxpayers to contribute through state income tax credits
- taxpayers who contribute to enterprise zone projects may earn income tax credits
The Location Neutral Employment (LONE) incentive provides an incremental cash incentive of up to $6,500 per remote employee per year for up to five years to companies that hire new employees in designated rural areas of the state.
Companies that qualify for the Job Growth Incentive Tax Credit (JGITC) – a credit to support businesses with relocation and expansion projects – are eligible to receive the stackable cash incentive for each qualifying remote hire.
The Advanced Industries Grant Programs help Colorado-based advanced industries technology businesses develop and commercialize advanced technologies that will be created or manufactured in Colorado.
These programs provide grants to both existing businesses and those locating to or expanding in Colorado. By reimbursing costs associated with job training, the program increases transferable job skills that support business competitiveness and enhance workers’ resumes and long-term employment opportunities.