The City of Littleton City Council voted unanimously to adopt a new Economic Partner Incentive Policy at its Aug. 6 meeting. The updated policy is part of the city’s new Comprehensive Economic Development Strategy, aimed at providing better structure for incentives and fostering a true partnership between business owners and the city.
The policy outlines four incentive programs: retail development, primary employment, revitalization, and the state’s Enterprise Zone Tax Benefit program. The retail development and primary employment programs include tax reimbursement incentives that must be approved by the city council. The revitalization program offers a grant for small businesses to improve the exterior of their buildings and is approved by the city’s economic development staff.
Businesses must submit a written application and meet up to three tiers of criteria outlined in the policy for each program. The city’s economic development staff will assist interested businesses in determining their eligibility and navigating the application process.