Colorado's commitment to ensuring a business-friendly environment has been embraced by all branches and levels of government, and has been nationally recognized. State and local officials understand the critical importance of a robust private sector and work together to maintain one of the nation's best business climates.
Colorado's elected officials have passed a variety of legislation to ensure a business-friendly climate throughout the state, saving businesses hundreds of millions of dollars. They have also delivered broad-based tax relief to individuals and businesses through reductions of the sales tax and the corporate and personal income tax.
- The Pacific Research Institute ranked Colorado #2 in its study of the relative lawsuit burdens on jobs and businesses around the country.
- The Simon Fraser Institute has ranked Colorado #3 in Labor Market Freedom, and #2 in Economic Freedom.
- The Tax Foundation has ranked Colorado #6 for its Business-Friendly Tax Climate.
Leadership in the Colorado General Assembly
- Speaker of the Colorado House of Representatives: Rep. Mark Ferrandino (D-Denver)
- President of the Colorado Senate: Sen. John Morse (D-Colorado Springs)
2013 OEDIT Legislative Agenda
HB13-1001 Colorado Advanced Industries Accelerator Act
Advanced industries are a prime driver of the U.S. and Colorado economies, comprised of technology and R&D-intensive companies that deliver products and services in industries ranging from aerospace to energy equipment. The economic impact of the advanced industries is significant, accounting for 30% of the state’s economy, 520,300 high-paying jobs, and hundreds of thousands of secondary jobs. Accelerating the development of advanced industries through HB 1001 will create new high-skilled jobs, align educational and training institutions to match workforce and industry needs, accelerate the commercialization of technologies, and enable Colorado to compete effectively in a global market.
HB13-1193 Colorado Advanced Industries Export Accelerator Act
Within the next five years, 95% of the world’s consumers and 87% of the world’s economic growth will take place outside of the United States . This poses a great opportunity for Colorado businesses to start exporting their goods and services or to expand their exporting into new international markets. Yet, Colorado’s small and medium-sized businesses often face hurdles including lack of readily available information about exporting and market research, challenges obtaining export financing, and obstacles placed by international governments. HB13-XXXX will help businesses clear these hurdles by providing a robust and comprehensive trade export promotion program comprised of financial resources, training, and consulting services to Colorado businesses.
HB13-1142 Urban and Rural Enterprise Zone Act Reforms
The Enterprise Zone program is one of the largest economic development programs in the state, encouraging job creation and capital investment in economically distressed areas. HB 1142 will make Enterprise Zone program policy changes to continue to encourage economic development and investment, as well as to protect small businesses and create and retain good jobs in Colorado. The bill was created in partnership with the Enterprise Zone Task Force, economic development stakeholders and the business community
HB13-1002 Small Business Development Centers Appropriation
The Small Business Development Centers (SBDC) combine information and resources from federal, state and local governments with those of the educational system and the private sector to meet the specialized and complex needs of the small business community. SBDCs provide a one-stop shop for businesses to access essential research data, business consulting services and various training programs. Additional funding is needed to ensure SBDCs will continue to offer their current services, as well as increase services to identity state funding and incentive programs and procurement opportunities.
HB13-1003 Economic Gardening Pilot Project
The economic gardening pilot project will be a new program administered by the SBDCs that focuses on cultivating and growing second-stage companies in Colorado. The program will grant up to 25 Colorado companies access to high-level research data and provide high-level technical assistance for strategic growth while utilize the existing infrastructure of the statewide SBDC network to streamline cost savings and to ensure efficient, effective and targeted consulting and training for businesses throughout Colorado.
HB13-1287 Extend Colorado's Job Growth Incentive Tax Credit
The Job Growth Incentive Tax Credit (JGITC) is one of the primary incentive tools OEDIT uses to attract new businesses to the state and retain existing companies. The JGITC provides a state income tax credit to a business undertaking a job creation project for which Colorado is competing with at least one other state. This bill reauthorizes the credit for another five years.