Incentives & Finance
Broomfield works in conjunction with the State of Colorado to offer incentives to businesses looking to expand or relocate.
State of Colorado Incentives
The State of Colorado offers a host of incentives for entrepreneurs and businesses of all sizes through the Office of Economic Development and International Trade (OEDIT). Colorado has low taxes and business costs, provides performance-based incentives to qualifying companies that create new jobs, and offers customized training grants.
Job Growth Incentive Tax Credit
The performance-based Job Growth Incentive Tax Credit provides a state income tax credit to businesses undertaking job creation projects that would not occur in Colorado without this program.
Strategic Fund Incentive
The Strategic Fund Incentive program supports and encourages new business development, business expansions, and relocations that have generated new jobs throughout the state. In some cases, the Strategic Fund may also be able to provide support for initiatives led by non-profit entities pertaining to key industries or regional development.
Job Training Grant Programs
The Colorado FIRST and Existing Industry grants are jointly administered by the Colorado Office of Economic Development and International Trade (OEDIT) and the Colorado Community College System. Colorado FIRST grants are for companies that are relocating to or expanding in Colorado and provide funds only to net new hires. Existing Industry grants focus on providing assistance to established Colorado companies in order to remain competitive within their industry, adapt to new technology, and prevent layoffs. The programs increase transferable job skills that support both the company’s economic competitiveness and enhance worker's resumes and long-term employment opportunities.
Biotechnology Sales & 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. Qualified taxpayers may seek a refund every year for all Colorado sales and use taxes they paid on purchases of tangible personal property used directly in research and development of biotechnology. This includes property such as microscopes, chemical reagents, and software.
Manufacturing Sales and Use Tax Exemption
Colorado encourages manufacturers to locate their manufacturing operations in Colorado recognizing their importance in Colorado'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 Production of Energy for Renewable Energy Systems
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.
Aviation Development Zone Tax Credit
The purpose of the Colorado Advanced Industry Investment Tax Credit is to help more Colorado advanced industry companies receive more capital from Colorado investors. The legislation that created this program (HB 14-1012) defines the seven advanced industries as:
Technology & Information
As a combined city and county, Broomfield has greater flexibility than many other cities when offering incentives on the local level to businesses looking to expand or relocate.
is a program developed by the City and County of Broomfield to help improve the appearance of commercial and industrial properties in our community. Applicants can qualify for up to $25,000 in funding to help offset the cost of specific improvements to their building.
Business Personal Property Tax Rebates
The City and County can offer a partial rebate of the business personal property tax paid.
Use Tax Rebates
The City and County can offer a rebate on the sales and use tax paid on building materials for build out of space.
Consumer Use Tax
Consumer Use Tax is a companion tax to sales tax. The basic idea being that the use tax applies to purchases of personal property when the sales tax does not. A consumer use tax is generally charged by a local government on tangible personal property (supplies, fixtures, furniture, equipment) purchased from outside of the local government for delivery and use within their boundaries when there has been no charge to the consumer for local sales tax.
Currently in Broomfield, use taxes are only collected on building construction materials and motor vehicles. In many surrounding jurisdictions the base for collection of use taxes has been expanded to include all items that are subject to sales tax. This would include all tangible personal property (furniture, fixtures, equipment) that a business may purchase outside of the local government’s boundaries and have delivered to their business location. If this business was located in a city that has expanded their base for use tax collections, then the additional cost to the business would be the local tax rate applied to the purchase price of the property. If the business is located in Broomfield, that tax would not be due and would be a savings to the company.
Tax Increment Financing
The City and County of Broomfield offers tax increment financing in qualified areas of the community. In these areas, economic development incentives, including rebate of use, business personal property, real property and sales tax can be incorporated in agreements to benefit the company.
Starting on January 1, 2016, projects in select areas of Broomfield can qualify for state tax incentives under Colorado's Enterprise Zone (EZ) program.
Finding a lending partner to help fund your business’s startup and growth can sometimes be a challenge. Broomfield works with several business lending partners to help our companies start and grow.
Private Activity Bonds
Industrial Revenue Bonds - Manufacturers
The Manufacturing Revenue Bond Program provides favorable, tax-exempt Private Activity Bond financing for "small issue" manufacturing projects (under $10,000,000) in Colorado. The program helps finance real estate, machinery, and equipment associated with expansion projects that are specific to manufacturers.
Colorado Business Enterprise Fund
Microlender - Small & Emerging Businesses
Colorado Enterprise Fund (CEF) was founded in 1976 as a non-profit lending source specializing in microloans for small and emerging businesses unable to receive traditional bank financing. By offering flexible financing options, personalized customer service, one-on-one business advising, and access to entrepreneurial resources statewide, CEF enhances the long-term prosperity of local communities and contributes to the success of economic development in Colorado.
Commercial Property Assessed Clean Energy (C-PACE)
enables building owners in Broomfield to fund 100% of the cost of energy efficiency and water conservation improvements. C-PACE long-term financing (up to 20 years) enables cash flow positive projects with no upfront capital outlay.
Rocky Mountain MicroFinance Institute
Microlender - Small & Emerging Businesses
The Rocky Mountain MicroFinance Institute (RMMFI) is a non-profit organization that provides learning, lending, and coaching to grow Community Entrepreneurs who build businesses to advance along the pathway to self-sufficiency and self-worth. RMMFI’s brand of microfinance combines affordable and approachable business support services and flexible microloans to help individuals turn a good idea into an income-generating business. Learn more
Colorado Lending Source
SBA Community Advantage Lender
Colorado Lending Source is Colorado's trusted not-for-profit resource for small business lending. Over our 24 year history, the partnerships we've developed with local lenders and government agencies have resulted in the growth of 3,120 small businesses, the creation and retention of over 22,500 jobs and an injection of more than $3.1 billion into the state's economy.
As an SBA Community Advantage Lender, Colorado Lending Source uses a streamlined paperwork process with delegated authority to approve loans, which expedites the loan approval process for small business owners.
Small Business Administration (SBA)
The United States Small Business Administration provides financing through loan guarantees to private lenders, certified development companies, and community based non-profit lending organizations.
The SBA 7(a) program provides loan guarantees to lenders on loans to small businesses. If you are awarded a 7(a) loan, you can use the loan proceeds to help finance a large variety of business purposes. However, there are a few restrictions. For example, proceeds can’t be used to buy an asset to hold for its potential increased value or to reimburse an owner for the money they previously put into their business.
The CDC/504 Loan Program provides financing from $25,000 to $5.5 million for major fixed assets such as equipment or real estate.
Export Import Bank (Ex-Im Bank)
The Export-Import Bank of the United States (Ex-Im Bank), the official export credit agency of the United States, enables U.S. companies — large and small — to turn export opportunities into real sales that help to maintain and create U.S. jobs and contribute to a stronger national economy. Ex-Im Bank provides working capital guarantees (pre-export financing); export credit insurance; and loan guarantees and direct loans (buyer financing).