DENVER — The Colorado Office of Economic Development and International Trade on Friday announced that the online application process for the Advanced Industry Investment Tax Credit will be available at noon, Friday, Sept. 5.
The tax credit is designed to stimulate private-sector capital formation by rewarding local investors for taking equity stakes in startup companies with high growth potential. The program targets technology sectors with a strong presence in Colorado, and is complementary to the $12.5 million per year Advanced Industry Acceleration grant program.
Sectors covered by the state tax credit include advanced manufacturing, aerospace, bioscience, electronics, energy/natural resources and clean tech, infrastructure engineering, and technology and information. Credits will be granted on a first-come first-serve basis to qualified applicants.
Investors are encouraged to apply as soon as possible after they make their investment, as the tax credit also requires the recipient company to be certified. For more information visit www.advancecolorado.com/aitc.