The Broomfield City Council has approved a tax deal valued at up to $300,000 over seven years to support the development of a new health center in the city. The unanimous decision was made during the council’s weekly meeting held on March 5, 2024. This agreement will reduce the tax burden on GLC Health Ventures LLC, which is set to construct a 53,000-square-foot facility for Ernest Health in the southwest area of Broomfield.
According to a memo from the council, the tax deal is part of Broomfield’s broader strategy to foster economic growth and sustain its tax base. The memo states, “Broomfield occasionally provides business investment agreements to specific businesses in targeted business sectors as a means to maintain and strengthen our local economy and tax base.”
The health facility will be located at 9150 Metro Airport Ave. Broomfield staff project that even after the tax reimbursements, the city will receive approximately $1.6 million in revenue from use tax and business personal property tax generated by the new business from 2026 to 2032.
The council also outlined that the terms of these agreements generally require measurable outcomes related to new investments, job creation, and tax revenues. This consistent model aims to ensure that the benefits of such arrangements extend beyond the immediate financial relief provided to businesses.
As the city prepares for the construction of the health facility, local officials express optimism about the economic benefits that will follow. The addition of the new health center is expected to enhance healthcare access for residents while contributing to the local economy through employment opportunities and increased tax revenue.
Broomfield’s investment in this facility highlights its commitment to supporting businesses that contribute to community welfare, ensuring a balanced approach to economic development.
