Upstate Colorado Administered Programs
Weld County/Larimer County Revolving Loan Fund
Administered by Upstate Colorado Economic Development, this fund utilizes federal funds to provide gap financing for companies that expand the job base in rural Weld and Larimer Counties.
Greeley Community Development Fund
Managed by Upstate Colorado Economic Development, this fund extends financial assistance to qualifying companies planning to expand or locate in Greeley.
Enterprise Zone
Colorado’s Enterprise Zone (EZ) program provides a variety of state tax incentives to encourage businesses to locate or expand in designated economically distressed areas of the state, including select communities and locations in Weld County. Businesses operating or expanding within these zones may be eligible for state income tax credits based on specific activities.
Weld WORKS (WW) Labor Team
The WW Labor Team, consisting of labor, education, and economic development professionals, assists employers in recruiting, training, and advancing their workforce. They analyze and oversee local, county, and state Workforce Assistance Programs to identify labor development opportunities. The team offers technical support to new and expanding companies facing employment challenges.
Core members comprise Employment Services of Weld County, Upstate Colorado Economic Development, and Aims Community College, with additional organizations joining as needed.
Bright Futures
Bright Futures was designed to provide assistance to ensure the educated, trained and skilled workforce needed by Weld employers and is an investment in our long-term economic success. This program offers a $2,000/year stipend for up to four years to high school graduates, GED recipients, and honorably discharged US veterans who pursue post-secondary education or training. Eligible students must be a resident of Weld County and attend an eligible higher education program.
Additionally, a 50% personal property tax credit is available to encourage local businesses and individuals to contribute to this educational stipend and participate in increasing/improving the local talent pool.
State Assistance Programs - Eligible in Weld County
Colorado Sales/Use Tax Exemption on Manufacturing Equipment
Eligible machinery and machine tool purchases are exempt from state sales/use tax when used for manufacturing, provided they are ”directly and predominantly” used for this purpose. In Enterprise Zones, the exemption extends to materials for construction/repair of manufacturing and mining equipment, with no capitalization requirement.To claim this exemption complete the Sales Tax Exemption on Purchases of Machinery and Machine Tools (DR1191) form as directed.
Skill Advance Colorado
Transforming Colorado’s workforce through customized training, the Skill Advance program offers State funding for Colorado First and Existing Industry job training reimbursement grants to strengthen business competitiveness and improve employment opportunities. Colorado First and Existing Industry Programs are jointly administered by the Colorado Office of Economic Development and International Trade (OEDIT) and the Colorado Community College System (CCCS), and grants are locally managed by participating community colleges.
The Colorado First (CF) Job Training Program provides funds for net new hire training and focuses on new and expanding businesses in Colorado with a need to train workers with the skills necessary to increase their productivity, to increase their wages, and to reduce their need for public support.
The Existing Industry (EI) Job Training Program provides funding for incumbent worker training and supports established Colorado businesses with adapting to new technology and preventing layoffs.
Program eligibility requirements include:
- Skill Advance Colorado funding supports only Colorado businesses and employees. Employees funded by the CF and EI programs must be residing and working in Colorado during the grant period.
- All training funded by Skill Advance Colorado must take place within Colorado.
- All grant-funded training must be for full-time (32 hours/week), non-seasonal, non-retail employees who have significant career opportunities, require substantive instruction.
- All training must be short-term and substantially customized (contextualized/tailored content) to specific business needs and related to substantive, resume-building, transferable employee skills.
Colorado Strategic Fund (SF) Grant Program
The program offers a performance‐based incentive commitment to eligible businesses making a significant capital investment that create new full‐time, permanent jobs paying at or above the average county wage and other specified requirements. The program is designed to support highly desirable and high‐impact job creation. The cash incentive may range from $2,000‐$5,000 per net new full‐time job created based on the average wage rate, location and other factors up to a total award of $500,000. There must be a strong level of local matching commitments and the business must demonstrate project feasibility and financial capability. Business decisions clearly moving forward without this assistance will not be considered for funding if an announcement has been made prior to an introduction to the Economic Development Commission (EDC) who makes all award decisions. Businesses that receive approval must execute a contract with the state which will authorize disbursement of funds when specified contract terms have been met.
Colorado Job Growth Incentive State Income Tax Credit
This program provides state income tax credits to primary sector businesses creating jobs in Colorado, particularly when competing with other states. Eligible businesses can claim up to 50% of qualifying employee FICA costs for 96 consecutive months, provided they create at least 20 new full-time equivalent (FTE) jobs with wages exceeding the county average. These jobs must be maintained for at least one year, and the local community must justify the project’s economic significance. Project approval subject to the Economic Development Commission’s review. Businesses already receiving incentives from the EDC for the same new FTE jobs are ineligible for this program.
Advanced Industries (AI) Accelerator Grant Program
This program aims to foster growth and sustainability in advanced industries in Colorado by helping drive innovation, speeding up commercialization, encouraging public-private partnerships, and enhancing access to early-stage capital. Colorado’s advanced industries cover sectors like aerospace, advanced manufacturing, bioscience, electronics, energy, natural resources (including Cleantech), infrastructure engineering, technology, and information.
Qualified companies and projects can access four types of grants ranging from $15,000 to $500,000, along with two global business programs. These grants are available for proof of concept, early-stage capital, infrastructure funding, and advanced industry exports.
Colorado Export Office Services
The state Office of Economic Development and International Trade (OEDIT) international staff helps companies obtain the information, skills, resources, and contacts they need to successfully export goods and services worldwide. Services include the opportunity to apply for small export development grants, trade show and foreign mission trip opportunities, export counseling, education, etc.
Colorado Minority Business Office (MBO)
The Minority Business Office (MBO) focuses on supporting minority and women-owned businesses in Colorado. It offers access to a network of public, private, and government resources for businesses of all sizes. The MBO assists in obtaining certifications at city, state, federal, and private levels, guiding businesses to contracts suitable for their interests. Additionally, it provides information, tools, and events to help private businesses connect with appropriate minority and women-owned businesses for their needs.
Weld County Business Assistance Program
Municipal Development Incentives
With 31 communities, Weld County offers many diverse location opportunities from rural to small town and urban centers. Municipalities may provide incentives based on an adopted incentive policy or on a case-by-case basis to qualifying companies. Qualification and incentives will vary depending upon community but could include partial waivers of development fees, personal property tax, sales/use tax, streamlined development procedures, etc. Learn more about each community by clicking the link below.
Property Tax Rebate Incentive
Through state enabling legislation counties and cities, on a case-by-case basis, can negotiate with qualifying companies for a rebate of 50% on the jurisdiction’s levy on new taxable personal property, for up to ten years.The property investment of at least $1 million must be used in connection with the operation of a qualifying new or expanded primary business facility that meets all state and local guidelines.
Weld County CEF Business Loan Fund
The Colorado Enterprise Fund (CEF) provides loans up to $250,000 to support small businesses, including startups and existing ones, with flexible rates and terms. CEF administers the Weld County Business Loan Fund for qualifying small businesses in Weld County. Borrowers gain access to an online community for expertise and advisory assistance covering bookkeeping, cash flow, profitability analysis, and technology.
Weld County Small Business Incentive Program (BIP)
This Weld business assistance program is designed to provide financial assistance by reducing upfront development costs (land use applications, building permits and some impact fees) for eligible small businesses locating or expanding in unincorporated, rural Weld County. The maximum award amount is $40,000 and based on new/retained job creation. After consulting with the Small Business Development Center (SBDC), any business owner or tenant with 25 or fewer employees is eligible to complete the program application, which includes submittal of a business plan and forward to the Weld Planning Department for review.
Aims Community College
Aims provides a diverse range of over 200 degree and certificate programs, offering flexible scheduling options to prepare students for both university transfer and direct job placement. Through its Center for Workforce Development & Community Partnerships, Aims collaborates closely with local employers to customize programs to meet industry needs. Popular training programs cover areas such as Communications Skills, Technical Industrial Training, Software, Management/Leadership, Language, and Business Skills Development.
Additionally, Aims supports Weld businesses with the Colorado FIRST Customized Job Training program and contributes to the Weld WORKS Labor Team, assisting employers in workforce recruitment and development.
Employment Services of Weld County (ESWC)
ESWC, funded by the Department of Labor and Employment and other federal programs, provides a range of customized labor services to employers – most at NO CHARGE. Services include Job Posting, Employee Recruitment, Screening and Referrals, Job Fairs, etc.
Their Assessment and Learning Lab offers flexible, self-paced learning options, including computerized instruction and GED preparation. The On-the-Job Training Program allows employers to offset training costs by up to 50%, aiding candidates in acquiring specific skills. ESWC also helps determine federal tax credit eligibility for hiring certain applicants.
As a Weld WORKS Labor Team member, ESWC provides technical labor assistance to aid employers in recruiting, training, and developing their workforce.
NOCO Manufacturing Partnership
This business-led, free membership organization, comprised of Northern Colorado manufacturers, provides support through networking events, informative presentations, and initiatives like Manufacturing Talent/Rocks, which introduces students to manufacturing careers through tours, presentations, and internships. Led by businesses in collaboration with economic development, education, and workforce development, the partnership focuses on Health and Wellness and Advanced Manufacturing sectors, with representation from each group on the Board of Directors.
Small Business Development Center (SBDC)-East Colorado (Greeley)
The Colorado Small Business Development Center Network (CSBDC) supports the growth of businesses in Colorado through free consulting and affordable training programs. Based in Greeley, the East/Central SBDC assists businesses in Weld County and eastern Colorado with job creation, financing, sales growth, government contracts, certifications, and more. By leveraging resources from various levels of government, education, and the private sector, the SBDC addresses the diverse needs of the small business community.
Federal Assistance Programs-Eligible in Weld County
SBA 7A Loan Guarantee Program
The SBA 7A loan program is highly flexible and widely utilized for business financing. It guarantees up to 90% of loans issued by commercial lenders, reducing risks while maintaining credit availability. Funds can be used for various purposes such as working capital, acquisitions, equipment purchases, construction, and debt refinancing. Loan terms extend up to 10 years for working capital and up to 25 years for fixed assets. To qualify, businesses must be for-profit with a net worth under $8.5 million and net profit less than $3 million. Additionally, the owner/user must occupy 51% of an existing building or 60% for new construction.
SBA 504 Loan Guarantee Program
Administered by a non-profit Certified Development Company (CDC), this program offers long-term, fixed-rate financing to growing businesses for significant fixed assets like land and buildings. CDCs collaborate with the SBA and private lenders to provide funding to small businesses creating jobs. A typical 504 project involves a loan secured by a senior lien from a private lender covering 50% of the project cost, a loan secured by a junior lien from the CDC (backed by a 100% SBA-guaranteed debenture) covering 40% of the cost, and a minimum 10% equity contribution from the small business.
USDA Rural Development Business and Industry Guaranteed Loan Program
In rural areas (50,000 population or less), this federal program guarantees loans by eligible local lenders up to $10 million. The primary purpose of the program is to create/maintain employment and improve the economic and environmental climate in rural communities. This is achieved by expanding the existing private credit structure capability to make/service quality loans. The program typically guarantees losses of up to 80% of the original loan amount. Typically, loan guarantees are limited to a minimum of $500,000 and a maximum of $10 million per borrower. The program administrator may approve loans up to $25 million.
USDA Rural Development Business and Industry Guaranteed Loan Program
USDA Energy Efficiency Improvement Project Loan Guarantee/Grant Program
Companies located in rural areas (50,000 population or less) who are making verifiable (energy audit or assessment) improvements to a facility, building or process that reduces energy consumption are eligible to apply for a USDA loan guarantee and/or grant assistance. The maximum grant award (nor more than 25% of eligible project costs) is $250,000. The maximum guaranteed loan award (no more than 75% of eligible project costs) is $25 million and the maximum combination grant/guaranteed loan (no more than 75% of total eligible project costs) is $25 million. Assistance is awarded on a competitive basis and additional requirements exist.
USDA Energy Efficiency Improvement Project Loan Guarantee/Grant Program
Audrey Herbison
aherbison@upstatecolorado.org
Office: 970-356-4565
Direct: 970-909-2889
Audrey Herbison is Upstate Colorado’s Director of Economic Development. Reach out with any questions regarding incentives & funding.
