(May 13) – Rep. Dianne Primavera’s bill to continue one of the state’s main levers for encouraging job creation was signed by Gov. John Hickenlooper today.
HB13-1287, sponsored by Reps. Primavera (D-Broomfield) and Brian DelGrosso (R-Loveland), extends the Colorado job growth incentive tax credit through 2023. The credit is available to any business in Colorado that creates jobs in the state – a minimum of five jobs in a rural enterprise zone, at least 20 in other areas. The average credit is $2,800 per job; the new jobs must be retained for at least one year; and they must pay at least 110 percent of the local average wage.
“I’m supporting an all-of-the-above approach to economic development and job creation,” Rep. Primavera said when the bill was approved by the House last month. “This bill is an important part of the strategy.”
Since its inception in 2009 the program has attracted 27 new businesses and 7,200 jobs to Colorado, and 80 more companies are in the pipeline.