The Denver Office of Economic Development (OED) seeks to boost the economic development of the city, its residents, neighborhoods and businesses. Through the collaboration between OED and several community partners, the agency aims to create an environment that promotes balanced growth through business assistance, job creation, housing options, the development of trained workforce and neighborhood development.
OED offers various services and programs to aid businesses. To help promote disadvantaged and small businesses, it provides access to contracting opportunities in the city. It offers compliance assistance intended for businesses situated at Denver International Airport, small and disadvantaged business owner certification and compliance assistance with contracts.
One of its several business services is the Business Assistance Center (BAC), which is committed to supporting small businesses in their interactions with local, state and federal government. Meanwhile, through the Enterprise Zone Tax Credit, businesses situated in a particular area will get tax credits against their tax liability. Those that expand or move to the Denver Enterprise Zone can also save a lot on their annual business income tax. Denver’s Zone covers more than 30 sq mi of most of the commercially zoned property in the city. Businesses located within the zone can choose from nine state tax credits, while taxpayers with a state tax liability can take advantage of one state tax credit.
OED also seeks to help develop viable neighborhoods by offering a better living environment, better economic opportunities for moderate- and low-income residents, as well as affordable housing. It offers asset management and compliance assistance, technical assistance for the revitalization of neighborhood and financial assistance for residential housing and developers.
Its housing assistance includes affordable rental housing, neighborhood stabilization program and mortgage credit certification program. Aside from offering better living environment and quality housing, its programs are dedicated to providing energy saving alternatives and more economic opportunities for low-income elderly, tenants with special needs, and low and moderate earners.
Through the Denver Workforce Centers, OED provides an employment and training agency that conforms to the training and recruiting needs of job seekers, youth and businesses across the city. Workforce development personnel connect businesses with a ready and trained workforce, as well as help job seekers gain skills and secure sustainable employment.
In addition, OED’s Denver Office of Strategic Partnerships (DOSP) acts as a liaison between the nonprofit sector and the city. Established in 2004, DOSP now consists of a commission composed of 15 members, who are assigned by the city mayor to advise the office’s work.