The Success of the Colorado Research and Development Tax Credit

| Blog

Since the Colorado Research and Development (R&D) Tax Credit was first introduced, the R&D community has exploded in the state, with laboratories and business moving their business and research operations to Colorado.

The R&D tax credit was made to reward taxpayers for research expenses in Colorado, making the state attractive for businesses looking to open an R&D center. In addition, Colorado is a national center for research and innovation, with 33 federally funded laboratories in a variety of fields, such as the National Oceanic and Atmospheric Administration, the Renewable and Sustainable Energy Institute, and the only Center for Disease Control and Prevention Lab outside of Atlanta, Georgia. The following are recent examples of companies who recently opened new R&D centers in Colorado.

EWI, a non-profit engineering and applied R&D company, is one company that announced in April 2016 it is opening a new innovation center dedicated to establishing best-in-class technical capabilities in advanced quality measurement technologies. This will be EWI’s third lab facility in Colorado. Located at the Rocky Mountain Center for Innovation & Technology in Loveland, EWI Colorado will help manufacturers gain a competitive advantage through the application of advanced process monitoring and inspection control technologies. The center is expected to open in late summer.

Hach Co., a Loveland-based manufacturer of high-tech water-testing equipment, announced in June it will break ground on a multimillion-dollar research and development facility on its existing two-building campus. The new building will be approximately 86,000-square feet and it will house work spaces for Hach’s development teams, with multiple testing and development laboratories. More than 750 associates work on the Loveland campus and another 50 are working from leased office space in Fort Collins. This expansion will offer additional space to support Hach’s near-term and anticipated future growth.

ChromaDex, a California-based bioscience first, announced in December it will open a research and development plant in Longmont on Jan. 5, 2017. The company has spent close to $1 million to renovate and install equipment in the 10,000 square feet it is leasing.

Lockheed Martin Space Systems Co. opened a national radio frequency communications research and development lab focused on satellites in May, and is still expanding. So far, 142 engineers and technicians have transferred to the RF Payload Center of Excellence.

Boulder Scientific, a developer of specialty chemicals for the defense, electronics, and pharmaceuticals industries, announced in October that it will expand in Longmont by adding a 4,000-square-foot research and development laboratory at its existing office there.

Colorado Office of Economic Development and International Trade Logo Colorado Office of Economic Development and International Trade (303) 892-3840 oedit.info@state.co.us
Colorado Office of Economic Development and International Trade Logo Colorado Office of Economic Development and International Trade (303) 892-3840 oedit.info@state.co.us
Colorado Office of Economic Development and International Trade Logo Colorado Office of Economic Development and International Trade (303) 892-3840 oedit.info@state.co.us
Colorado Office of Economic Development and International Trade Logo Colorado Office of Economic Development and International Trade (303) 892-3840 oedit.info@state.co.us