The Town of Castle Rock may elect to provide Economic Development Assistance for the retention, expansion or new location of targeted businesses that help the community achieve its stated goals. These goals currently include:
Incentives valued at $100,000 or less may be approved administratively by the joint signature of the Town Manager and the EDC CEO. Incentives valued more than $100,000 must be approved by Castle Rock Town Council.
For more information, contact the Castle Rock EDC at 303.688.7488.
Targeted Businesses Identified in the Policies include:
Primary employers creating or retaining high paying jobs that match the skills of the Town’s workforce
Post high school educational and training facilities
Recreation and entertainment facilities
Retailers currently under-represented in Castle Rock
Depending upon the Project, a Variety of Assistance is Available including:
Expedited development review and approval schedules
Waiver or reduction of annexation, rezoning and platting fees
Rebates of Building Permit, Utility System Development and Development Impact fees
Rebates of Building Use, Sales or Property taxes
Assistance with public infrastructure requirements
Assistance with applications for Federal, State, County or School District programs
Sales tax sharing
Colorado Incentives
Colorado’s Office of Economic Development and International Trade (OEDIT) provides information on state-level incentives available to qualifying businesses. Some of the current programs include:
Aircraft Manufacturer Tax Credits
Biotechnology Sales and Use Tax Refund
Colorado Economic Development Commission
Colorado FIRST and Existing Industry Job Training Assistance
Enterprise Zone Tax Credits
Local Infrastructure Assistance
Local Property Tax Incentives
Manufacturing Revenue Bonds
Colorado Film Incentives Cash Fund
Community Development Block Grants (CDBG)
County Rebates
The State of Colorado allows local taxing units to provide incentive rebates to new or expanding companies. These rebates are negotiated with the local county or municipality and can be as much as 100% of the amount of taxes levied by the county upon the taxable personal property directly attributable to the new business or existing business’ expansion. This rebate is allowed for a maximum of 10 years. Note: For certain targeted businesses, other incentives may be available on a case-by-case basis.