GJEP News GJEP News features news about economic development issues, GJEP activity updates, profiles of GJEP Investors, and upcoming event invitations.... more
|
|
 |
| Home > Business
Environment > Financial Assistance |
|
Financial Assistance & Incentives
|
|
Businesses will find a friendly, helpful environment in the flourishing
Grand Junction market area. The Grand Junction Economic Partnership
will work with individual companies to develop a package tailored
to meet its unique needs and requirements. Please contact us
directly for information about any of the following programs:
Cash & Land Grants
Local Funds
Dependent on certain criteria, the Grand Junction Economic
Partnership can offer direct cash grants, land grants or land write-downs. Incentives
are made, when appropriate, if Mesa County is in competition with one or more
alternative locations and the offer of an incentive can induce or persuade a
decision for Mesa County.
Cash and land grants are available for both new (relocating) business and existing
business expansions.
The potential business must meet the following criteria:
• Be currently
in business and have a successful financial track record. Favorable considerations
may be
made if a "new" business has strong financial assets and qualified management.
• Be
involved in an activity which creates "base" jobs, defined as manufacturing,
distribution or service jobs.
• Make a product
or provides a service which is "exported" from
Mesa County.
• Be able to make the transition, either expansion or relocation,
in the absence of the incentive.
The Grand Junction Economic Partnership incentive
offers are predicated on three basic components:
1. The number of new jobs to
be created in Mesa County.
2. The quality of those jobs (i.e. the level of wage
or salary.)
3. The amount of new capital investment.
State Funds
The Job
Creation Performance Incentive Fund (PIF) provides a performance-based
incentive payment to qualifying companies that have created net new jobs paying
above average wages. The program is designed to support and encourage new business
development, business expansions and relocations that have generated new jobs
throughout the state.
The Enhanced Incentive Program (EIP) provides an additional performance-based
incentive payment to companies that have qualified under the Job Creation Performance
Incentive Fund and have created new jobs paying average wages that are even higher
than required under the PIF program. The program is designed to support highly
desirable and high-impact job creation opportunities.
Financing
Various methods of financing are available. Please contact us
for more details on the following:
• Revolving
Loan Fund of Mesa County
• GJEP
Investors in Financial Sector offer traditional financing as well as other
loans such as
the SBA
504 Loan Program
• Private Activity Bonds/IDB's of Mesa County and the City of Grand Junction
• Venture Capital Funding - CAPCO Program
• Venture
Capital Authority
Job Training
• Colorado
FIRST
Tax Credits
Enterprise Zone - A number of tax
credits are available to companies that locate
in Enterprise Zones. The purpose of the Enterprise Zone program
is to create jobs and promote
investments within the zone. In Mesa County the program is administered
by the Business Incubator Center. Visit the website for more specifics on the program and whether a facility is located
within the zone.
Colorado
Aircraft Manufacturer Tax Credit - Aircraft
manufacturers located in a Colorado Aviation Development Zone may
qualify for a state income tax credit of $1,200 per new
employee. The Grand Junction Regional Airport is a designated
aviation development zone.
Other
Infill
and Redevelopment Program - The City of Grand Junction has
adopted an incentive program that will foster infill and redevelopment
projects
in specific geographic areas of
the city. Some of the incentives include expedited review process,
certain fee deferrals, project financial participation, off-site
improvements, density bonuses (residential), etc.
HubZone - Locating within a designated HubZone affords many contracting
opportunities with various governmental offices. Much of the commercial
and industrial areas of Grand Junction are a HubZone.
|
|
|
