The Town of Milliken will consider a variety of incentives that could provide direct assistance to primary employers to encourage the creation and retention of primary jobs. The following list represents the type of assistance the Town will entertain to retain and attract primary employers.
Development Fees, Sales & Use Taxes The following fees and/or taxes may be waived, deferred or reimbursed in full or in part upon approval of the Town Board. These Include:
- Town construction materials use tax
- Town sales taxes paid on fixed asset purchases
- Town administrative portion of the building permit fee
THE LARIMER / WELD BUSINESS LOAN FUND
The Larimer/Weld Business Loan Fund (BLF) was established to assist with the financial needs of companies expanding or locating in Larimer or Weld County. The BLF can provide short-term financing for up to 45% of project costs, and may assume a second or third collateral position in order to leverage other lender involvement. The minimum loan amount is $25,000. Based on the financial needs of the applicant, the use of the borrowed funds and the borrower’s credit history, typical terms will be for a term of 5-7 years and interest rates are based on the prime rate.
Find more information at the link below:
THE Greeley/Weld ENTERPRISE ZONE (EZ)
Colorado’s Enterprise Zone (EZ) program provides tax incentives to encourage businesses to locate and expand in designated economically distressed areas of the state. The program encourages job creation and capital investment by providing tax credits to businesses and projects which promote and encourage economic development activities within the Enterprise Zone. Weld County actively encourages businesses to use the EZ program to facilitate economic development and business growth, and job creation.
Below is a link to the Colorado Enterprise Zone website, which includes a description of each tax credit and a link to the statute, the regulation, the FYI publication, and the paper tax credit form for each tax credit. Please visit the Enterprise Zone Tax Credits home page for updates on new Enterprise Zone (EZ) program changes or announcements, or to request certification of an EZ business tax credit online.
Personal Property Tax Rebates
Senate Bills 118 and 182 enable counties and municipalities, on a case-by-case basis, to negotiate a rebate of up to 50% of the jurisdiction’s levy on new taxable personal property used in connection with the operation of a qualifying new or expanded primary sector business facility. The State of Colorado limits this incentive to ten years. On a case by-case basis, Weld County and other Weld towns will consider appropriate personal property tax refunds to businesses that qualify under state/local guidelines.
Other Benefits/ Incentives
Because of the significant investments the oil and gas industry have made, Weld County does not have short or long-term debt or a sales tax. The County also has a low mill levy and pays for long term projects with cash.
The State of Colorado offers a host of incentives for entrepreneurs and businesses of all sizes. Colorado has low taxes and business costs, provides performance-based incentives to qualifying companies that create new jobs, and offers customized training grants. A complete listing of Colorado’s incentives can be found at www.advancecolorado.com/funding-incentives/incentives.