Colorado Tax Incentives
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Colorado Tax Incentives
Page Contents
- Assistive Technology Funding Sources
- Business Loan Funds
- Colorado Division of Vocational Rehabilitation (DVR) - Services for Employers
- Colorado's Enterprise Zone Tax Credit Program
- Colorado FIRST / Existing Industry Customized Training Programs
- Job Creation Performance Incentive Fund (PIF) and Enhanced Incentive Program (EIP)
- Pikes Peak Workforce Center (PPWFC)
- Telecommuting Program
Assistive Technology Funding Sources
AT Funding Sources is a searchable online database tool. It assists with locating needed funding to purchase AT devices and services for their specific needs.
Business Loan Funds
Every year, the State of Colorado receives an allocation of federal funds from the Department of Housing and Urban Development (HUD) to use for both community development and economic development efforts. The Colorado Office of Economic Development receives approximately one-third (1/3) of the annual allocation of funds to use specifically for economic development efforts statewide.
The state has 15 Business Loan Fund locations which have service areas covering the majority of the rural areas only. The fifteen programs are responsible for promoting and fostering economic development efforts at the local level by providing financial assistance in the form of loans and loan guarantees to businesses in their respective regions.
Capital from these loans can be used for job creation and retention for people with disabilities, who as a group tend to have a low employment rate. Jobs brought forth as a result of these loans could help end this distressing cycle of unemployment for this population.
Colorado Division of Vocational Rehabilitation (DVR) – Services for Employers
The following web site has information on Colorado’s Division of Vocational Rehabilitation and the services it offers to employers who hire workers with disabilities.
Location of 19 DVR offices located throughout the state of Colorado.
Colorado’s Enterprise Zone Tax Credit Program
Colorado's Enterprise Zone program provides tax incentives to encourage businesses to locate and expand in designated economically distressed areas of the state.
Very often, people with disabilities live in urban areas that are depressed and in need of revitalization. Hiring disabled individuals from these zones would reverse the unemployment trend among this population and give their neighborhoods a much needed lift.
Additional information on the Enterprise Zone Tax Credit.
Information on the Enhanced Rural Enterprise Zone Job Credits.
General Information about Colorado State Enterprise Zones
Enhanced Rural Enterprise Zone Job Credits Overview
Colorado FIRST / Existing Industry Customized Training Programs
The state of Colorado offers two grant programs that provide training to companies' employees. They are the Colorado First Grant and the Existing Industry Grant.
Colorado First grants are for companies that are relocating to Colorado or existing companies that are undertaking a major expansion.
Existing Industry grants are designed for Colorado companies that are implementing new technology to remain competitive and keep jobs in Colorado. Approved training is for transferable job skills that support both the company's economic competitiveness by re-training its workers in new skills, while enhancing the workers' long-term employment opportunities.
Frequently, people with disabilities don’t have the skills necessary to obtain and keep competitive employment. Through these programs, disabled employees can gain the skills needed to get a job and successfully advance in their career.
Additional information on Colorado First and Existing Industry Training Funds.
Application Criteria for FY08 Colorado First Training Funds
Application Criteria for FY08 Colorado Existing Industries Training Funds
Job Creation Performance Incentive Fund (PIF) and Enhanced Incentive Program (EIP)
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.
The Enhanced Incentive Program (EIP) provides an additional performance-based incentive payment to companies that have qualified under the Job Creation Performance Incentive Fund and have created new jobs paying average wages that are even higher than required under the PPWFC program. The program is designed to support highly desirable and high-impact job creation opportunities.
Jobs for people with disabilities can be part of business expansion and development encouraged by these incentive programs.
Job Creation Performance Incentive Fund Overview
Enhanced Incentives Program Overview
Colorado Job Creation Performance Incentive Fund and Enhanced Incentive Program Application
Pikes Peak Workforce Center (PPWFC)
The Pikes Peak Workforce Center (PPWFC) supports business and promotes employment by providing market-driven solutions for our community to succeed in the global economy. PPWFC helps businesses solve their workforce-related business problems and helps residents of El Paso and Teller counties with career transition.
For employers the Center provides skilled, qualified workers – some of whom are disabled - and access to the training and consulting they need to improve and increase their business. PPWFC links employers and job seekers faster than ever before.
PPWFC helps businesses solve workforce-related problems using the following resources:
- Recruiting, job matching, performance coaching, hiring events and job posting
- Specialized training for workers and supervisors
- Financial and tax credits services
- Labor market information
- Hiring veterans
Any business in Colorado interested in hiring someone with a disability should contact PPWFC.
The Pikes Peak Workforce Investment Board and Center’s Workforce Skills Certificate program helps take the guesswork out of your hiring process. The Workforce Skills Certificate program is based on the ACT WorkKeys ® assessments and measures an individual’s work skills in three core areas: Reading for Information, Locating Information and Applied Mathematics. All assessments are based on real-world work applications.
Telecommuting Program
Teleworking or telecommuting allows employees to work from home or another off-site location either part-time or on a full-time basis. Employees are "hooked" up to the office usually by computer, fax and telephone to communicate with their employers.
Benefits of teleworking include: Increased employee productivity by eliminating the hassles of driving to and from the office; savings for employers on office space and parking costs; reduced absenteeism; recruitment and retention of skilled employees with disabilities; improved customer service; reduced traffic congestion and improved air quality.
Telecommuting is a viable alternative to working in a traditional office setting, especially for a worker with a disability. With telecommuting, a person can work from home without the stress of a daily commute to work.
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