diff --git a/.changes/unreleased/Under the Hood-20240412-134502.yaml b/.changes/unreleased/Under the Hood-20240412-134502.yaml
new file mode 100644
index 00000000000..62d1ebb859b
--- /dev/null
+++ b/.changes/unreleased/Under the Hood-20240412-134502.yaml	
@@ -0,0 +1,6 @@
+kind: Under the Hood
+body: Migrate to using `error_tag` provided by `dbt-common`
+time: 2024-04-12T13:45:02.879023-07:00
+custom:
+  Author: QMalcolm
+  Issue: "9914"
diff --git a/core/dbt/events/types.py b/core/dbt/events/types.py
index daf114042e7..01b46cc54bf 100644
--- a/core/dbt/events/types.py
+++ b/core/dbt/events/types.py
@@ -1,7 +1,7 @@
 import json
 
 from dbt.constants import MAXIMUM_SEED_SIZE_NAME, PIN_PACKAGE_URL
-from dbt_common.ui import warning_tag, line_wrap_message, green, yellow, red
+from dbt_common.ui import error_tag, warning_tag, line_wrap_message, green, yellow, red
 from dbt_common.events.base_types import EventLevel
 from dbt_common.events.format import (
     format_fancy_output_line,
@@ -11,11 +11,6 @@
 from dbt.events.base_types import WarnLevel, InfoLevel, DebugLevel, ErrorLevel, DynamicLevel
 
 
-# TODO Move this to dbt_common.ui
-def _error_tag(msg: str) -> str:
-    return f'[{red("ERROR")}]: {msg}'
-
-
 # Event codes have prefixes which follow this table
 #
 # | Code |     Description     |
@@ -430,7 +425,7 @@ def message(self) -> str:
         )
 
         if self.level == EventLevel.ERROR.value:
-            description = _error_tag(description)
+            description = error_tag(description)
         elif self.level == EventLevel.WARN.value:
             description = warning_tag(description)
 
@@ -448,7 +443,7 @@ def message(self) -> str:
             description += " Run again with `--debug` to see them all."
 
         if self.level == EventLevel.ERROR.value:
-            description = _error_tag(description)
+            description = error_tag(description)
         elif self.level == EventLevel.WARN.value:
             description = warning_tag(description)
 
diff --git a/core/setup.py b/core/setup.py
index f8b96f2fcaa..7cbbfb7e41e 100644
--- a/core/setup.py
+++ b/core/setup.py
@@ -75,7 +75,7 @@
         "minimal-snowplow-tracker>=0.0.2,<0.1",
         "dbt-semantic-interfaces>=0.5.1,<0.6",
         # Minor versions for these are expected to be backwards-compatible
-        "dbt-common<2.0",
+        "dbt-common>=1.0.1,<2.0",
         "dbt-adapters>=0.1.0a2,<2.0",
         # ----
         # Expect compatibility with all new versions of these packages, so lower bounds only.