Lawmaker was recognized for her efforts to foster economic development and promote small business growth
DENVER, CO– Representative Tracy Kraft Tharp last Thursday received the Economic Development Council of Colorado’s Lifetime Achievement Award for her efforts to simplify tax rules for businesses and promote economic development.
“Driving economic growth in our communities has been one of my top priorities, and I’m honored to have received this lifetime achievement award,” said Rep. Kraft-Tharp (D-Arvada). “From simplifying our tax code to creating and bolstering tax credits that drive investment, the laws we’ve passed have had tremendous and positive impacts on Colorado businesses. I am grateful to the Economic Development Council of Colorado and proud of the accomplishments that we’ve secured. Just like a rising tide lifts all ships, a growing economy has improved the of Coloradans across the state. Let’s keep it that way.”
“The Economic Development Council of Colorado is proud to honor Representative Kraft-Tharp for this special recognition,” said Tammy Fields, Board Chair, Economic Development Council of Colorado. “Colorado is privileged to have legislators that demonstrate collaboration and strong leadership by advocating for important public policy which supports industry and economic development initiatives that strengthen Colorado’s economy.”
Kraft Tharp was nominated for her work on several Colorado laws that simplified tax rules and promoted economic development and innovation. She was the prime sponsor of legislation to promote investment in advanced manufacturing companies, extend the state’s economic development commission and improve state sales and use tax rules. She also passed legislation to create a sales and use tax refund for clean technology and medical device firms with 35 employees or less (HB15-1180).
In 2018, she sponsored and helped pass HB18-1350, which expanded the state sales and use tax exemption to include products derived from scrap metal or end-of-life-cycle materials for remanufacturing or recycling into new metal stock.
In 2017, Kraft Tharp sponsored HB17-1090, which extended the Advanced Industry Investment Tax Credit, which allows a qualified investor to claim an income tax credit for investments in companies in the advanced manufacturing industry.
In that same year, she sponsored legislation, HB17-1270, which now allows state agencies additional discretion when imposing fines for minor violations on small businesses to take into account efforts they may have undertaken to cure the violation. With the Economic Development Commission set to expire, Kraft Tharp sponsored SB17-280, which extended the commission until 2025 and provided $5 million for the Colorado office of economic development.