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Governor Polis and OEDIT Celebrate Colorado's Strong Business Environment and Growth

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From 2019 through 2025, state's flagship expansion programs motivated 143 companies to choose Colorado for expansion projects

DENVER – Today, Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) celebrated business growth in Colorado. Numbers released by OEDIT demonstrate that the state's flagship business attraction programs motivated 143 new businesses and expansions in Colorado from 2019 to 2025, creating more than 42,000 new jobs and $4.8 billion in wages.

"Colorado's pro-business reputation and policies are attracting more and more businesses to our state. Between 2019 and 2025, 143 businesses chose to move to, expand, or invest in Colorado with Office of Economic Development and International Trade tax credits. Our strong business environment, well equipped workforce, and high quality of life are attracting more and more businesses to the state. My administration has not just led on attracting new businesses, we have achieved historic business development opportunities for Colorado with a new Broncos stadium - which will be a new entertainment district out of a blighted abandoned area, recruiting Sundance Film Festival to Boulder Colorado in 2027, and winning a quantum hub. These are landmark efforts that will generate opportunities for decades. But we aren't stopping now, I am committed to building on this good work to make Colorado more attractive to businesses and more competitive. These business expansions alone are creating 42,145 new jobs, strengthening local economies, and boosting Colorado's profile nationally as the best place to do business," said Governor Polis.

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Analysis by OEDIT found that the Job Growth Incentive Tax Credit and the Strategic Fund Job Growth Incentive programs incentivized 143 businesses to choose to expand or relocate to Colorado over other locations, creating 42,145 new jobs and generating $4.8 billion in wages. It is important to note that these numbers do not include the companies that have chosen to move to Colorado without incentives, or other efforts from OEDIT such as the Rural Jump-Start Program, which incentivizes businesses that relocate to rural Colorado communities.

Each of the expansions was competitive, with the companies considering Colorado and locations outside of the state for expansion, but ultimately choosing Colorado. The top alternative states considered included Texas (42 projects), Arizona (23 projects), California (21 projects), and Florida (16 projects).

"Colorado's flagship expansion program has incentivized 143 businesses from across the nation and the world to choose Colorado, projected to create 42,145 good-paying jobs for Colorado workers and their families. This is in addition to organic growth from relocations, expansions, job creation and investment that occur without state support. We are committed to building on this growth so more companies can benefit from our innovation economy, top talent, collaborative and stable ecosystem, and foundation assets like world-class research institutions and robust access to capital," said OEDIT Executive Director Eve Lieberman.

The Colorado Economic Development Commission oversees the Job Growth Incentive Tax Credit and the Strategic Fund Job Growth Incentive, which are implemented by OEDIT, to encourage business expansion and new company relocations and create jobs in Colorado. These incentives are performance-based and companies must meet job creation and salary requirements to earn these incentives, which are net revenue positive to the state's General Fund.

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About OEDIT's Global Business Development Division
Global Business Development (GBD) is a division of the Colorado Office of Economic Development and International Trade. GBD supports Colorado businesses and communities by using a data-driven approach to recruit, support, and retain businesses that contribute to a robust and diversified economy. We align our portfolio of programs, services, and incentives with industries that benefit Colorado companies and elevate the state's national and international competitiveness. GBD also hosts foreign delegations and participates in trade and investment missions around the world to strengthen global awareness of Colorado. With a highly educated and motivated workforce, a thriving innovation economy, and nation-leading entrepreneurial spirit, Colorado is a top market for business development.

About the Colorado Office of Economic Development and International Trade

The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all to thrive in Colorado's economy. Under the leadership of the Governor and in collaboration with economic development partners across the state, we foster a thriving business environment through funding and financial programs, training, consulting and informational resources across industries and regions. We promote economic growth and long-term job creation by recruiting, retaining, and expanding Colorado businesses and providing programs that support entrepreneurs and businesses of all sizes at every stage of growth. Our goal is to protect what makes our state a great place to live, work, start a business, raise a family, visit and retire—and make it accessible to everyone. Learn more about OEDIT.

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