Grant Opportunities

Enterprise Zone Research and Development Tax Credit

Application Deadline: Rolling

Description:

The Enterprise Zone Research and Development Tax Credit incentivizes businesses to invest in research and development by offering a state income tax credit of 3% of the annual increase in R&D expenses compared to the prior two years. This initiative, part of Colorado’s Enterprise Zone Program, aims to foster economic development in designated areas of the state facing challenges such as high unemployment, low per capita income, or slow population growth.

Eligibility:

• Businesses, both new and existing, located in enterprise zones are eligible.
• For businesses opening in the middle of a tax year, the credit must be prorated based on the months of operation in the zone.
• Eligible businesses must comply with both state and federal laws; those in the marijuana industry are excluded.
• Continuous presence in the same enterprise zone for three years is required to claim the credit; relocating resets the eligibility period.
• Research must be technological, contribute to new or improved products, and involve experimentation.
• In-house research expenses cover wages (excluding fringe benefits), supplies, and computer usage fees.
• Contract research expenses include third-party payments for research conducted within an enterprise zone.
• Ineligible expenses include land improvements, depreciable equipment, management surveys, customer-specific product adaptation costs, and government-funded research.

Application Link:

https://oedit.colorado.gov/enterprise-zone-research-and-development-tax-credit

Colorado Revolving Loan Fund

Application Deadline: Rolling

Description: The Colorado Revolving Loan Fund provides affordable loans ranging from $5,000 to $750,000 to support small and medium-sized businesses across the state that were negatively impacted by the COVID-19 pandemic. These loans are designed to provide startup and working capital, with the goal of creating and retaining jobs. The fund places special emphasis on supporting socially and economically disadvantaged businesses, using flexible underwriting and offering bilingual support when possible.

Eligibility: 

• Registered for-profit businesses and nonprofit organizations

• Businesses across diverse sectors, including outdoor recreation, tourism, food services, hospitality, and creative industries

• USDA-certified hemp businesses and value-added hemp manufacturing (as permitted by federal law)

• Special focus on historically underserved groups:

  • Minority-owned

  • Native American or tribal-owned

  • Immigrant-owned

  • Women-owned

  • Disabled-owned

  • Veteran-owned

  • Businesses in low-income and rural communities

  • Employee-owned businesses

More Information: 

https://oedit.colorado.gov/colorado-revolving-loan-fund