CEO Guide to Site Selection

#13

Colorado

CEO Rank on Best & Worst States for Business

TAKING OFF IN THE CENTENNIAL STATE

The big buzz in Colorado is about space. A growing cluster of aerospace companies in Denver continues to expand, drawing even more companies and talent to the region. Lockheed Martin, Sierra Space, Ball Aero- space and United Launch Alliance now all have operations here. The industry is also fueling new companies

and spinoffs like Red Canyon, which specializes in flight software and has partnered with Lockheed Martin on more than 20 interplanetary missions. United Airlinesannounced in June it will buy up to 270 new planes, a deal that would create 3,000 jobs in Denver in the next five years.

“Hyundai Motor Manufacturing Alabama is an integral member of not only the River Region but the entire state of Alabama. I’m thrilled to celebrate the 5 millionth vehicle rolling off the line in our great state. Alabama has become a major player in the automotive industry, and today’s milestone proves we will maintain our status as an industry leader.”
Kay Ivey
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

No

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

Job Growth Incentive Tax Credit: Offers a state income tax credit for businesses that create at least 20 jobs with annual wages of at least 100% of the county averagewage.

Colorado First Customized Job Training Program: Of fers up to $1,200 per employee in training by one of the state’s community colleges, provider of the company’schoosing or an in-house trainer.

Enterprise Zone Tax Credits: Offers a variety of investment and workforce tax credits for companies operating in economically distressed areas.

Strategic Fund: Offers up to $5,000 for each job created with average annual wages of 140% of the average county wage.

EDCs

Colorado Office of Economic Development and International Trade
choosecolorado.com

Economic Development Council of Colorado
edcconline.org

Metro Denver Economic Development Corporation
metrodenver.org

Colorado Springs Chamber & Economic Development Corporation
coloradospringschamberedc.com

HIGHLIGHTED PROGRAM OR INITIATIVE

The new Colorado Startup Loan Fund offers small grants and loans to entrepreneurs and small business owners who need capital they cannot obtain from traditionallenders. There is more than $31.35 million available in 2021.

BIG DEALS

  • Multiple tech companies, including Orbit Fab, Ptero- Dynamics, Melio and Finder, announced hubs and locations in Colorado in 2021.
  • York Space Systems announced in May 2021 it will open a new “mega” manufacturing facility in Denver to meet its growing demand.
  • United Airlines announced in June 2021 plans to buy up to 270 new planes and add 3,000 jobs in Denver in the next five years.
  • Dawn Aerospace entered into a memorandum of understanding in June 2021 with Colorado Air and Space Port to create a relationship and eventually conduct test flights and spaceplane launches.
  • Fidelity Investments announced in September 2021 it will add up to 500 more employees in Colorado in the coming months.

BIG COMPANIES

10 Fortune 500 companies headquartered in state, including

  • Arrow Electronics
  • DISH Network
  • DaVita
  • Liberty
  • Media Ball
  • VF
  • Newmont
  • DCP Midstream