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Office of Economic Development and International Trade - Economic Development Commission

Economic Development Commission

Colorado Economic Development Commission

The Colorado Economic Development Commission (EDC) was created by the legislature 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.

Program Goals

  • In cooperation with state, local, and private entities, develop incentive packages to assist with existing business expansions and new company relocations in order to promote job creation and retention in all regions of the state. In determining whether to approve incentive awards, the EDC considers the financial soundness of the company, the number of jobs to be created, average salary levels, the economic condition of the area where the project is located, the amount of capital investment, and other factors. The EDC requires matching funds from the local community.

    Parties interested in EDC incentive awards should contact OEDIT's Business Finance staff early in the planning process. The EDC will not approve awards for projects that have been announced prior to introduction to the EDC.

  • Identify and support specific programs and activities that assist rural economies.
  • Support economically distressed areas by providing state money which will be matched by local areas.
  • Assist state agencies, including the Department of Agriculture and the Office of Economic Development & International Trade, produce marketing materials and products that support ongoing business development efforts.
  • Develop and support events and activities that create business development leads and that promote Colorado nationally and internationally.