Colorado Resources for Quantum Tech Hubs

Opportunities that Quantum Tech Hubs can consider for business development, job growth incentive, gaining access to capital and more.

As a federally recognized Quantum Tech Hub that has secured $40.5 million in federal funding, the state of Colorado is setting up the Quantum industry for success through resources that can remove growth barriers and ensure a bright future for all Coloradans. View the descriptions of each state grant or tax credit below to consider opportunities that your Quantum organization may qualify for. Upon reviewing the descriptions and visiting their designated websites, if any additional questions arise please reach out to Alison Karp (email) at OEDIT.

Refundable State Income Tax Credits

• Refundable State Income Tax Credit to Offset Loan Losses: To improve access to capital for quantum companies, lenders are encouraged to make favorable loans to quantum companies by registering up to 15% of the loan in a pooled loan loss reserve. The reserve is funded with a 100% refundable tax credit should the lender incur losses associated with those loans.
• Refundable State Income Tax Credit for Capital Expenditures: Eligible capital expenditures on property meant for the purpose of developing a shared collaborative quantum laboratory space and procuring professional quantum laboratory equipment are eligible for a 100% refundable state income tax credit.

Advanced Industry Grants/Tax Credits

• Advanced Industries Early-Stage Capital and Retention Grant: This grant helps Colorado-based advanced industries technology businesses develop and commercialize advanced technologies that will be created or manufactured in Colorado. Projects can receive up to $250,000 with a 2-to-1 (company-to-state) cash match.
• Advanced Industry Proof of Concept: This grant provides funding to help Colorado research institutions speed up applied research in advanced industries and commercialize products and services with the private sector. Projects can receive up to $150,000 in grant money.
• Advanced Industries Collaborative Infrastructure Grant: This grant funds collaborative projects that will fill a gap and have broad industry-wide impacts across one or more of Colorado’s advanced industries. Eligible projects can receive up to $500,000 unless the award cap is lifted, click the link for additional details.
• Advance Industry Export Grant:This grant helps small- and medium-sized Colorado-based advanced industries technology businesses who want to export or are currently exporting. It reimburses international business development and marketing costs. Businesses can apply for up to $15,000 and up to 50% of the approved expenses.
• Advanced Industry Investment Tax Credit: Encourages investments in Colorado advanced industries businesses by incentivizing investors with state income tax credits. Investors can earn a tax credit of 25% of their investment up to a maximum $100,000 credit on an investment of $10,000 or more. If the advanced industries business is in a Colorado enterprise zone or rural county, investors can earn a state income tax credit of 35% of their investment.

Job Growth Incentives

• Job Growth Incentive Tax Credit: The Job Growth Incentive Tax Credit is an eight-year job creation incentive to support competitive, multi-state, or country relocation and expansion projects. The tax credit gives businesses a Colorado state income tax credit equal to 50% of the FICA (Federal Insurance Contributions Act) tax paid by the business per net new job for each calendar year in the credit period.
• Strategic Fund Job Growth Incentive: This incentive is for business expansion or relocation projects for which Colorado is in competition with at least one other state and the company has received a commitment of local government funding that matches any requested state government incentives. The incentive provides a cash payment over five years to companies that create and maintain new permanent jobs in Colorado.

Additional Opportunities

• Venture Capital Authority Investments: Venture Capital Authority (VCA) supports Colorado’s innovative economy by expanding access to venture capital for Colorado’s entrepreneurs and startup businesses. The VCA is a political subdivision of the state and a Special Purpose Authority which periodically holds an open application process to select professional venture capital fund managers. The VCA takes a limited partner position in these funds.
  • As of 2022, the State is also deploying State Small Business Credit Initiative (SSBCI) capital through the Venture Capital Authority.
• Skill Advance Colorado Job Training Grant: This grant helps businesses and nonprofits create customized job training for employees. Training develops Colorado’s workforce, builds workers’ transferable skills, improves workers’ resumes and long-term employment opportunities, and helps Colorado businesses remain competitive. OEDIT alongside the Colorado Community College System jointly administer this program.