Colorado Capitol Report

A list of the new changes and rationale have been provided by the Department to CACI and are outlined below:

• Previously, the OEDIT has recommended to the EDC that it award tax credits primarily based on projected net new jobs and salaries using an 8 year performance period. In order to make the JGITC program more effective across Colorado, the length of the performance period and amount of credits awarded will now be calibrated based on the number of points earned by each applicant. [See scoring matrix];
• An applicant will receive additional points for project features that will strategically enhance Colorado’s economy.  Such features include things like filling strategic gaps in the supply chain, locating in an economically distressed area, and supporting emerging/high growth sector segments;

• An applicant will have points deducted if it is a close competitor to an existing Colorado company, if it is a pure relocation (versus an expansion), or the EDC has substantial questions about the company’s financial situation;

• The new process is being implemented on a trial basis and can be further adjusted by the EDC if it does not work as intended.  OEDIT staff expects that many incentive awards will still have eight (8) year performance periods;

• Overall, OEDIT and the EDC believe that this scoring process will enhance the Program and better serve Colorado.

Please contact Loren Furman at [email protected] if you have questions/concerns regarding these changes to the JGITC Program so that she can provide that feedback to the Department staff.