Government & Incentives

The principal focus of Bennett’s local business support efforts is to provide a high level of customer service and access to a wide variety of resources dictated by a company’s unique needs. 

Information gained through the local business support programs is also used to make the city an even better place to do business.

The success of each local business is a major focus of the Town of Bennett, our elected officials and our valued regional resource partners. 
 

Grants and Incentives

The Town of Bennett offers many incentives for developing in town. Some of those incentives include tax rebates and programs from the local to the state level, predictable development process with defined time frames, recently updated and streamlines land use code, locations within the state enterprise zone, collaborative design and review process, easy access to staff and decision makers, weekly development review sessions and defined development costs. 

The Town of Bennett, through Benefits of Bennett plan (BOB), may provide a reimbursement grant of up to 50% of the costs of a qualifying project in an amount up to $5,000 per business and not to exceed $15,000.00 per building per year. The purpose of the program is for eligible property owners and tenants to upgrade the appearance of existing storefronts/building facades or primary public entrances in order to help create a positive commercial environment in Bennett, Colorado. 

Benefits of Bennett Application

Colorado’s Enterprise Zone program provides tax incentives to encourage businesses to locate and expand in designated economically distressed areas of the state. There are 16 Enterprise Zones and 2 sub-zones in Colorado, including the Town of Bennett. Businesses located in an Enterprise Zone may qualify for up to nine Enterprise Zone Tax Credits that encourage job creation and investment in the Enterprise Zone. 

Major Benefits 

  • Investment Tax Credit (3%) - This is the most widely used tax credit. It essentially allows businesses in the EZ to receive a credit against their state income tax of 3% of their capital investment in equipment. This is available to all businesses in the EZ.
  • Training Credit (12%) - This allows businesses that make significant investment in human capital to recover 12% of their training program costs as an income tax credit. This is available to all businesses in the EZ.
  • New Job Credit ($1,100 per Job) - If a business creates a “new job” in the EZ then it could be eligible to take advantage of this credit. (Existing jobs transferred from another Colorado location are not eligible).
  • Health Insurance Credit ($1,000 per Job) - If the employer pays more than 50% of the employees’ health care benefits, there is an extra $1,000 that can be claimed for the first two full income tax years while located in the Enterprise Zone, in addition to the new job credit.
  • Vacant Building Rehabilitation Credits – 25% credit for hard costs associated with rehabbing a building that has been vacant for at least 2 years and is at least 20 years old.
  • R & D credits – 3% credit for increased investment in research and development. Must be technological in nature, utilize processes of experimentation and useful in the development of new products or services. In house or contract research qualifies.
  • Commercial Vehicle Investment Tax Credit – 1.5% of commercial vehicle purchase. (CVITC Application)
  • Manufacturing Sales Tax Exemption – There is a state-wide sales tax exemption for companies purchasing manufacturing equipment. Benefits for EZ companies are expanded- can include expensed items, materials used to repair equipment and mining equipment.

Purpose The Colorado Enterprise Zone (EZ) Program was created by the Colorado Legislature (C.R.S. Title 39, Article 30) to promote a business friendly environment in economically distressed areas by offering state income tax credits that incentivize businesses to locate and develop in - and non-profit organizations to assist with the needs of - these communities. Program Description Taxpayers investing in Enterprise Zones can earn a credit on their Colorado income tax by planning and executing specific economic development activities. 

To find out more, click on the following links or contact Adams County Economic Development directly. 

Tax Credits

State Map

Enterprise Zone Administrator Contact Information

Enhanced Rural Enterprise Zone

Contribution Projects

Public Records Law & Annual Reports


Adams County Economic Development, Inc.

12200 Pecos Street
Suite 100
Westminster, CO 80234
P: 303.453.8510
F: 303.453.8505
info@adamscountyed.com

An applicant can apply for enhanced or increased sales and/or use taxes, and/or permit fees.  This process is approved by the Town Trustees.  The assistance policy was created to target new and expanding businesses that diversify our economic base and continue to provide for the fiscal health of our community while respecting our environment and our unique small town feel. 

The Town has the financial mechanism in place to enter into public improvement reimbursement agreements with private developers and property owners for the design and construction of municipal infrastructure that is included on the Town’s Capital Improvement Plan and serves the developer or property owner.

A REPOSITORY OF BUSINESS FUNDING AND INCENTIVES

Your bottom line is our first priority. And at the end of the day, our mission is to encourage a supportive economic environment in which companies can successfully launch and mature, which is where our extensive collection of incentive and tax credit programs come into play.

We encourage businesses of all sizes and origins, as well as non-profits, real estate developers, higher education partners and investors, to apply for the resources most applicable to helping you achieve your goals. These financing and incentive programs are made up of cash incentives, business grants, tax credits, debt and equity financing among others. Furthermore, our Business Funding and Incentives team is available to assist you navigate this wide range of opportunities to find the available programs that best fit your business operation and goals.

Learn about best practices and opportunities for public support: Colorado Access to Capital Report

Browse the categories below to review the programs that may be available to you.

Funding and Incentives

The Colorado Enterprise Fund matched Adams County's non-federally funded contribution of $500,000 creating the initial program value of $1 million. Qualifying businesses can apply for loan amounts up to $50,000 maximum for five (5) years. Loan applications will be reviewed by a committee of bank and financial professionals organized by ACED and approved or denied following CEF's standard procedures and processes. Businesses can apply directly to the Colorado Enterprise Fund or be referred by Adams County Economic Development members, banks, or from the Small Business Development Center.

Adams County Microloan Fund

Licenses, Permits and Tax Information

Businesses Licenses are required in the Town of Bennett. Every person shall obtain a business license from the Town before operating, conducting or carrying on any trade, profession or business within the Town. Applications for all licenses and permits required by any provision of this Code shall be made in writing to the Town Clerk. Each application shall state the name of the applicant, the permit or license desired, the location to be used, if any, the time covered and the fee to be paid.

For any further questions regarding Business Licenses please contact the office of Economic Development.

Town of Bennett Business License Application

The Town’s property tax rate is 11.95 mills.

The Town’s sales tax rate is four percent, with one percent being restricted to the sales tax capital improvement fund. The three percent of sales tax is the largest revenue source for the Town general fund. The sales tax rates collected in Bennett is as follows: 

State Sales Tax 2.9%
Adams County Sales Tax 0.75%
Arapahoe County Sales Tax 0.25%
Town of Bennett Sales Tax 4%