DENVER - On May 8, 2024, Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development & International Trade (OEDIT) announced the Colorado CHIPS Community Support grant program to grow Colorado’s semiconductor industry. These grants will support Colorado communities interested in growing their local or regional semiconductor industries, with special emphasis on new and emerging markets across the state.

“Colorado’s semiconductor industry is growing fast. As part of our work to make Colorado the best place to live, work, and do business, we want more Coloradans to benefit from the good-paying jobs this important industry creates,” said Gov. Jared Polis.

Once-in-a-generation federal funding opportunities through the CHIPS and Science Act are spurring large-scale growth of the semiconductor and advanced industry sectors across the United States. Within Colorado, the semiconductor industry is poised for growth. The Semiconductor Industry Association places Colorado in the top 10 states with the resources and business ecosystem to support a strong semiconductor industry. In addition to major fabrication facilities, Colorado businesses support the entire semiconductor value chain from chip design and materials to fabrication and packaging. A strong network of industry leaders and research institutions also supports key Colorado industries that rely on chips, such as aerospace, bioscience, and cleantech.

Currently, Colorado’s semiconductor industry is concentrated on the Front Range, from Fort Collins to Colorado Springs. The Colorado CHIPS Community Support Program will provide funding to communities interested in starting or growing a local semiconductor industry, with special emphasis on rural development and population centers with new or emerging industries. Three grant types are available:

• Market Study Grants - $25,000-$50,000
  To fund market studies and enable communities to conduct a detailed analysis of the existing local semiconductor and advanced industries sectors, including the area's competitive position, opportunities for development, and attraction and retention of semiconductor companies.
   
• Implementation Grants - $100,000-$500,000
  Funding for projects that strengthen the local semiconductor and advanced industry sectors. Priority will be given to applicants addressing needs identified through a market study grant or initiatives like the Comprehensive Economic Development Strategies (CEDS).
   
• Marketing Grants - $10,000-$25,000
  To support marketing and promotional activities targeted to the semiconductor and advanced industries sectors. Priority will be given to applicants looking to promote assets developed with the aid of an implementation grant.

“Colorado’s semiconductor ecosystem is primed for growth from within. By supporting its expansion in more parts of the state, we can help more Colorado communities leverage this once-in-a-generation federal funding opportunity to diversify their economies, create good-paying jobs and grow the state’s semiconductor industry,” said OEDIT Executive Director Eve Lieberman.

A total of $3,750,000 in grant funding will be available through the Colorado CHIPS Community Support Program, awarded through four funding cycles. Priority will be given to rural applications with limited advanced industries and population centers with emerging industries.

“Colorado is a leader in advanced technologies and an integral part of the global semiconductor ecosystem. Diversifying the state’s semiconductor industry will grow our national and international competitiveness while ensuring that underrepresented communities and talent pools contribute to and benefit from this historic shift in national policy,” said Michelle Hadwiger, Director of OEDIT’s Global Business Development Division.

The Colorado CHIPS Community Support Program is part of ongoing efforts, including the CHIPS Refundable Tax Credits and CHIPS Zones programs, to support the development of the semiconductor and advanced manufacturing industries within Colorado, creating new good-paying jobs and contributing to a strong, diversified economy.

About Colorado Office of Economic Development and International Trade

The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all to thrive in Colorado’s economy. Under the leadership of the Governor and in collaboration with economic development partners across the state, we foster a thriving business environment through funding and financial programs, training, consulting and informational resources across industries and regions. We promote economic growth and long-term job creation by recruiting, retaining, and expanding Colorado businesses and providing programs that support entrepreneurs and businesses of all sizes at every stage of growth. Our goal is to protect what makes our state a great place to live, work, start a business, raise a family, visit and retire—and make it accessible to everyone. Learn more about OEDIT.