Littleton's economic landscape is seeing significant improvements, thanks to a series of incentive programs implemented by the city's Economic Development team. These programs, outlined on the city's official website, are designed to draw in new businesses and bolster the local economy by providing economic advantages to qualifying companies.
One of the key objectives of the incentives is to bolster relationships between the city and business owners. By offering sales tax rebates and grants, the program is aimed at supporting quality business development, which, in turn, is expected to strengthen Littleton's tax base. This fiscal boost is anticipated to ripple through the community, resulting in enhancements to city infrastructure and public services, as per the City of Littleton.
The year 2024 marked several achievements for the incentives program. Notably, a restaurant and bar named Number 38, poised to open in Littleton Village, has benefitted from a sales tax rebate incentive that encouraged its establishment on a previously vacant plot. This addition to the neighborhood is projected to generate substantial sales tax revenues, as stated by the City of Littleton. Another victory is the Mineral Place project, a mixed-use development featuring a new Costco, which also received a sales tax rebate to offset the costs of high land acquisition and site development. The city anticipates that this venture will rope in significant sales tax revenue that was previously going to other communities with larger retail offerings.
Local small businesses haven't been left out of this economic uplift. The city awarded Revitalization Incentive Grants to fifteen businesses, aiding them in financing exterior enhancements that include landscaping, signage, and ADA compliance modifications. With eight businesses in the Downtown Historic District receiving COVID Recovery Grants for infrastructure improvements, like the outdoor patio at Denver Beer Co., the city's commitment to its business community in various sectors is evident. These grants not only help the businesses themselves but also contribute to the city's charm and functionality.
