Colorado employers participating in Registered Apprenticeship Programs may be eligible for a new incentive through the New & Emerging Industries Apprenticeship Tax Credit, created by HB24-1439. This refundable state income tax credit is designed to encourage the adoption and expansion of apprenticeships in new and emerging occupations statewide.
Eligible employers can receive up to $12,600 per apprentice per income tax year, with the ability to claim up to ten apprentices annually, for a maximum credit of $126,000 per year. With $15 million available statewide each year through 2034, this credit represents a meaningful opportunity to offset training costs while strengthening Colorado’s workforce.
The Grand Junction Area Chamber of Commerce can help businesses take the first step toward creating or expanding a Registered Apprenticeship Program. 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. To qualify for the tax credit, employers must meet program requirements, including participation in a Registered Apprenticeship Program and employment within a designated new or emerging occupation.
To learn more and reserve your tax credit, visit the Apprenticeship Tax Credits webpage
Interested in learning more about apprenticeships? Contact alessandra@gjchamber.org.