Denver, CO (June 9, 2016) – Towards the end of May of 2016, Velocity Global worked with the Colorado Office of Economic Development and International Trade (OEDIT) and was awarded an almost $1.9 Million dollar state tax incentive in return for pledging to create 193 jobs in the state of Colorado, organized by the Economic Development Commission.
This tax incentive is part of a larger pool allocated by Colorado EDC, totaling around $14.3 Million dollars that should help create over 800 jobs in the state.
The Colorado Economic Development Commission (EDC) was created by the Colorado General Assembly to promote economic development in Colorado. It consists of nine members, five of whom are appointed by the Governor, two by the President of the Senate, and two by the Speaker of the House.
The EDC approves loans and grants from the economic development fund to public and private entities throughout the state to help existing businesses expand and new companies locate to Colorado. It also implements marketing programs to support ongoing business activities.
All policy and funding decisions are made by commission members. The commission is also responsible for policy decisions concerning the state Enterprise Zone program.
Velocity Global is honored to receive this vote of confidence from the Colorado Governor’s office and is excited to be a part of the economic prosperity of the Denver Metro area and the state of Colorado as a whole. Velocity Global was founded in Denver Colorado and is committed to keeping a substantial staff presence in the area while keeping an eye on the final goal which is being a truly global company. Recently, offices were opened in the financial and tech hot-spots of Boston and San Francisco, you can learn more here.
The Denver Post did an in-depth article about the tax incentive program which also includes incentives for a feature film, you can learn more here.
If you want to learn more about how Velocity Global operates, we offer a free eBook that outlines global expansion in the modern world, download it here:
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