Colorado is usually a very business friendly state and as part of that the Colorado Government offers grants to business which are relocating to Colorado or to existing companies that are expanding on a large scale. For the fiscal year of 2011 these grants were funded with $2.7 Million Dollars. Grants are usually approved for training programs that create transferable job skills that are beneficial to the company that these employees then can train other employees in the same company and if those skills transfer into long-term job opportunities.
Colorado Government Grants are a great way for employees to receive important training to improve their skills and expertise in certain fields. This translates into better productivity, better products and services, and therefore creates an immediate value for the local economy.
Grants get approved twice per year and the associated training needs to be completed during the fiscal year the Grant was approved for. Here are additional specifics about these Colorado Government Grants:
- Grants will only be awarded to companies that meet a sustainable wage threshold: in urban areas, employers must pay an average wage of at least $10.46/hour; average wages in rural areas must be at least $8.21/hour.
- All grant-funded training must be customized to meet the company’s specific needs.
- Applicant companies must pay for a minimum of 40% of the total training costs.
- A financial evaluation of the applicant company is required (Existing Industry applications only)
- An on-site visit of the applicant company is required.
- Maximum grant award of $800 per employee.
- Grant funded training must be for permanent, full-time, non-seasonal, non-retail positions in the state of Colorado, which have significant career opportunities and require substantive instruction.
As you can see Colorado Government Grants have certain restrictions for companies who want to apply. However, these requirements help to make sure that the associated training really provides value and is targeted towards people who are then able to take those additional skills and use them. This in return provides value back into the local economy which is the driving factor behind the Colorado Grants Program.
Companies from out of state should contact the Colorado Office of Economic Development and International Trade via phone at (303) 892-3840 for additional information. As mentioned, Colorado is a very business friendly state and companies should take advantage of that.
Local companies should get in touch with the Job Training Program Director. Here is his contact information.
1625 Broadway, Suite 2700
Denver, CO 80202
(303) 892-3725; FAX: (303) 892-3848
Not every employer is aware of the Colorado Grants program and if you are an employee of a company that could benefit from these Grants, make sure to pass on this information to your manager or business owner. This could be a great opportunity for employees to receive extra training and to make them more competitive in today’s rough job market.
More information can be found at the Colorado Government “Job Training Programs” website.