Grants, Incentives & Financial Assistance

The Town of Erie recognizes the value of providing business assistance to aid companies in locating to the Town, to encourage the substantial expansion of existing businesses, and in keeping with the overall economic development objectives. Assistance is important because it keeps the Town competitive in attracting quality business and development. These businesses bring local jobs and services, grow the circular economy, increase tax revenue, and contribute to the overall wellbeing of the residents. To that matter, the Town has several different incentive programs that can be offered to Erie businesses.

Additionally, there are county, and state incentives designed to support the Colorado business community. Please contact us to discuss what options may be available.

Town Incentives

The three different incentive programs the Town can offer are listed below. In general, the Approval Committee (comprised of members from different economic development organization partners) considers key factors such as: 

  • Number of employees/new jobs created
  • Average wages
  • Private investment
  • Sales
  • An overall public benefit to the community
  1. URA Revitalization Grants
  2. URA Tax Increment FInancing
  3. Enhanced Sales Tax

The Town of Erie Urban Renewal Authority (URA) offers tax increment financing funds to award matching grants to commercial properties within the urban renewal area, who commit to reducing blight and improving their external appearance. 

The deadline to apply is December 4, 2020.               

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Grants will be administered in two categories:

Historic Building Improvements

  • The applicant must be the property or business owner within a URA zone. If the business owner is the applicant, the property owner must approve the improvements. 
  • Residential use cannot be the sole use of the building.
  • 1:1 match not to exceed $10,000.
  • Funds will be used for the rehabilitation and renovation of existing building facades visible from either the public right-of-way or publicly owned property.
  • All improvements must comply with all applicable codes, rules, and regulations.
  • A list of eligible and non-eligible expenses, along with the scoring criteria, can be found here.

Business Siting & Expansion

  • The building to be improved must be located in the Historic Old Town Erie URA zone.
  • Incentive monies can equal 20% of the total project redevelopment cost, up to 50% of the cost of eligible improvements.
  • Grants are available to owner or tenant (if tenant applies, a minimum of three years must be remaining on the lease and written and owner permission must be provided).
  • The for-profit business must have been operating for over a year, has a valid Town business license, be in good standings with the Town, must be expanding, no more than 10 employees, and have not received previous TOEURA financial support.
  • A list of eligible and non-eligible expenses, along with the scoring criteria, can be found here. 
  • All businesses must receive grant approval before beginning the construction of improvements. No work before awarding of funds can be reimbursed.
  • A Selection Committee will review the application.

County Incentives

Upstate Colorado Economic Development works with Weld County in offering personal property tax incentives as well as various funding programs for businesses relocating or expanding within the Town of Erie. For details please visit Upstate Colorado Economic Development.

State Incentives

The State of Colorado has programs for training and quality job creation. When you relocate a business to the Town of Erie you may benefit from a variety of state grants and programs. For more information on state incentives for those who relocate a business to the Town of Erie please visit the Office of Economic Development and International Trade.

Small Businesses Assistance

Colorado Lending Source aims to foster the economic growth of diverse small businesses within our communities by offering a variety of low-interest loans and financial assistance programs.