Job Growth Incentive Tax Credit

Job Growth Incentive Tax Credit

Supports Colorado employers and businesses with growth-linked incentives for local jobs.

The Colorado Strategic Fund Job Growth Incentive Tax Credit (JGITC) is a cash incentive program administered by the Colorado Office of Economic Development and International Trade (OEDIT) through its Global Business Development division. The program provides cash payments over a five-year period to businesses that create and maintain permanent net new jobs in Colorado, specifically targeting companies for which Colorado is competing against at least one other state for an expansion or relocation project. A matching commitment of local government funding — on a one-to-one basis — is required before state incentive approval can be sought.

Cash incentives range from $3,000 to $6,500 per net new job, depending on the annual average wage rate of the new positions and the location of the project. In economically disadvantaged areas — including Enterprise Zones, Opportunity Zones, Rural Jump-Start counties, and select Just Transition counties such as Delta, Gunnison, Moffat, Montrose, Morgan, Pueblo, Rio Blanco, and Routt — enhanced per-job rates apply at lower wage thresholds. Jobs created in eligible Just Transition counties qualify for the maximum rate of $6,500 per eligible job regardless of wage tier. No sector restrictions apply.

Applications are accepted on a rolling basis and are reviewed at monthly Colorado Economic Development Commission (EDC) meetings, held on the third Thursday of each month. Companies must not announce or begin the proposed project in Colorado until the EDC approves the final application. The application process begins with a proof-of-eligibility consultation with OEDIT Global Business Development staff, followed by submission of an initial package — including a Colorado employment plan, a cost differential analysis, and three years of historical financials — at least 41 days before the relevant EDC meeting. Upon approval, the company has 18 months to initiate its job creation project. Businesses may not receive both the Strategic Fund incentive and the OEDIT Job Growth Incentive Tax Credit for the same jobs.