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Business success is a function of costs and Longmont provides a very competitive cost environment. From electric rates that are among the lowest in Colorado and the nation, attractively priced real estate for leasing space or building facilities, to the most affordable housing in Boulder County, operational savings in Longmont help add to the bottom line. The cost of doing business in Longmont is even more remarkable given the level of talent, the quality of life, the condition of infrastructure, the business environment, and the low cost of taxes.
Corporate income tax in Colorado is 4.55% of Colorado taxable income. Colorado has also abolished the worldwide unitary method of allocating corporate income for taxing purposes. Inventories are exempt from property taxation. The total local mill levy burden in 2021 was 93.696 mills. Sales and use tax is 8.715% in Longmont.
Longmont has built NextLight, a citywide community-owned 100% fiber-optic broadband network that offers Fiber-to-the-Premises for both commercial and residential customers within the city limits. With NextLight’s unmatched combination of speed and affordability, Colorado’s first “Gigabity City” is a leader in digital communications and a global information hub.
Longmont has maintained its competitive edge by offering the most affordable housing in Boulder County: it edges out year-over-year other communities in the County for having lower rent costs and lower housing costs. The median price of a home in Longmont is roughly 1/2 of the cost of the median home in Boulder city. This offers an affordable environment for individuals and families working in a variety of different industries.
Longmont Power & Communications (LPC) is a community-owned, non-profit electric distribution and internet utility that operates under the direction of Longmont City Council. LPC’s electric rates are among the lowest in Colorado and the nation, at 19% below the state average. The typical blended rate is ~10.44 cents per kwh for commercial and 9.58 cents per kwh for industrial applications. Its reliability is in the top quartile when compared to regional utilities and utilities of similar size.
Longmont Economic Development Partnership leads a comprehensive approach to building an economic ecosystem that not only supports, but champions, businesses and their owners. From world-famous brewers to smart manufacturing plants, specialized business catalysts to world-class research facilities, our businesses in Longmont build an economy that champions growth, prosperity, and inclusion.
Our economic development strategy, Advance Longmont 2.0, focuses on quality job creation and business investment. We activate a powerful civic infrastructure that identifies problems, creates innovative solutions, and implements these programs across partner organizations. For us, Advance Longmont means doing it together.
Longmont EDP offers core services to our industry partners that attract, retain, and engage primary industry. We supply transformative resources to our local economy for our public partners and private investors. We share the story of Longmont to the world, inviting young entrepreneurs, families, and companies to thrive in our community. A 501(c)6 non-profit organization founded in 1981, Longmont EDP is funded with both public and private dollars. More than 120 private sector businesses join the City of Longmont, Boulder County, and Platte River Power Authority as our economic partners.
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