DENVER – The Colorado Office of Economic Development and International Trade has announced that it will make the online application process for the Advanced Industry Investment Tax Credit available in early September.

House Bill 1012, passed this year, allows investors who put money into qualified small businesses in the industries of advanced manufacturing, aerospace, bioscience, electronics, energy/natural resources, infrastructure engineering, and technology/information to apply for the tax credit. Investments made after July 1 are eligible.

Investors have up to 90 days to apply for the credit. The credits are granted on a first-come, first-served basis, and are equal to 25 percent of the investment (30 percent if business is in a rural or economically distressed area) up to $50,000. Up to $375,000 in credits may be awarded through the program this year.

The tax credit is complementary to the state’s Advanced Industry Accelerator grant programs, and is geared toward stimulating investment by local investors in startups with high growth potential.

The OEDIT plans to announce the day and time the application will be available a week before it goes live. Further information will be available at that time at www.advancecolorado.com/funding-incentives/financing.