Incentives & Financing
The Economic Development team is here to support your decision to locate, expand or retain your business in Parker. The following is a list of the available business incentive programs. All Town of Parker Business Incentives and Programs are subject to the availability of funding.
Starting January 1, 2016, the Town of Parker received a state-designated Enterprise Zone. Businesses can earn tax credits for locating within this economically distressed area in the Town of Parker.
Tax & Fee Assistance Program (TAP)
The purpose of the Tax and Fee Assistance Program is to encourage the recruitment, retention, establishment or expansion of businesses and employers within the Town through a sales tax and/or fee share back as may be provided for in the TAP Ordinance (8.27).
State of Colorado Incentives
The state of Colorado provides performance-based incentive payments to qualifying companies that have created net new jobs that pay above average wages and also offers customized training grants.
Colorado ranks among the top-20 states (18th) for best corporate tax system and business-friendly tax climate according to the Tax Foundation's 2018 State Business Tax Climate Index. Colorado provides a competitive tax structure that rewards investments and business innovation.
Colorado offers various targeted tax incentive programs to companies creating new jobs and investment in the state:
- Biotechnology Sales and Use Tax Refund - State sales and use taxes paid on the sale, storage, use, or consumption of tangible personal property to be used in Colorado directly and predominantly in research and development of biotechnology are refundable.
- Colorado Aircraft Manufacturer New Employee Tax Credit - Aircraft manufacturers located in a Colorado aviation development zone may qualify for a state income tax credit of $1,200 per new employee.
- Enterprise Zone Program - The Enterprise Zone Program provides tax credits for private enterprise to expand and for new businesses to locate in economically distressed areas of Colorado as designated by the Colorado Economic Development Commission (EDC). Businesses located in a zone may qualify for various Enterprise Zone Tax Credits and Incentives to encourage job creation and investment in Colorado.
- Advanced Industry Investment Tax Credit - Helps Colorado advanced industry companies receive capital from Colorado investors.
- Sales Tax Exemption on Components for Production of Energy from Renewable Energy Sources
Components used in the production of electricity from a renewable energy source are exempt from state sales and use tax.
- Qualifying Therapeutic Discovery Projects - A tax credit provided under new section 48D of the Internal Revenue Code (IRC), enacted as part of the Patient Protection and Affordable Care Act of 2010 (P.L. 111-148). The credit is a tax benefit targeted to therapeutic discovery projects.