Colorado employers now have access to a new incentive aimed at expanding apprenticeship opportunities in the state. The New & Emerging Industries Apprenticeship Tax Credit, established by HB24-1439, offers a refundable state income tax credit to businesses that participate in Registered Apprenticeship Programs focused on new and emerging occupations.
Eligible employers may receive up to $12,600 per apprentice each year, with the option to claim credits for up to ten apprentices annually. This results in a potential maximum credit of $126,000 per employer per year. The program allocates $15 million statewide each year through 2034 to support these efforts.
The Grand Junction Area Chamber of Commerce assists local businesses interested in starting or growing Registered Apprenticeship Programs. As a Qualified Apprenticeship Intermediary for Industry in Mesa County, the Chamber helps employers understand apprenticeship pathways, navigate program requirements, and connect with incentives such as this tax credit.
Employers must meet certain criteria to qualify for the credit, including active participation in a Registered Apprenticeship Program and employment within designated new or emerging occupations.
“Through our designation as a Qualified Apprenticeship Intermediary for Industry in Mesa County, we support employers in exploring apprenticeship pathways, navigating requirements, and connecting employers to available opportunities and incentives like this tax credit,” stated representatives from the Grand Junction Area Chamber of Commerce.
For more information or to reserve the tax credit, visit the Apprenticeship Tax Credits webpage. Those interested in learning more about apprenticeships can contact alessandra@gjchamber.org.
