NewsCovering Colorado


Colorado Springs, EDC dedicates $3 million to businesses creating new jobs

The city is partnering with the Colorado Springs Chamber and EDC for the new grant.
Posted at 12:52 AM, Aug 30, 2022
and last updated 2022-08-30 02:52:31-04

COLORADO SPRINGS — The city of Colorado Springs is partnering with the Colorado Springs Chamber and Economic Development Corporation to pay businesses which bring in permanent, full-time jobs.

The Deal Closing Fund awards new or expanding businesses $1,000 to $5,000 per job created in Colorado Springs.

"It's all about economic growth and this is a competitive tool in our tool box to help us compete against other states and other regions of the state," said Johnna Reeder Kleymeyer, President and CEO, Colorado Springs Chamber & EDC.

The jobs created must pay a salary of about $57,000 to meet the 2022 average salary of the region.

$3 million have been dedicated to the Deal Closing fund for the year of 2022. The grant will be reassessed annually and adjusted as needed.

The grant targets "primary industry sector" businesses, including cybersecurity, manufacturing, information technology, and more. The award is not meant for small businesses like restaurants or retail stores.

"This is not a program for those in retail, or higher education, or hospitals. Those come when primary employers exist in your community."

Applications for the 2022 grant are open now.

Businesses do not qualify if they have previously announced they will be expanding into Colorado Springs, or are already established in El Paso County.


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