The Aerospace & Aviation Industry
Reaching New Heights in Colorado’s Grand Junction Area
With the nation’s second-largest aerospace economy, Colorado is a thriving aerospace hub for companies developing a complete spectrum of products and systems for commercial, military, and civil space applications.
In Colorado’s Grand Junction area, you’ll find a collaborative network and opportunities for growth. The Grand Junction area comprises three municipalities, including the City of Grand Junction, the City of Fruita, and the Town of Palisade. This is the largest metropolitan area between Denver and Salt Lake City and includes direct access to I-70 and access to air transportation through the Grand Junction Regional Airport (GJT). The area is known for its stunning landscapes, outdoor recreation opportunities, and community-centric atmosphere. Enjoy ease of access, attractive property, a robust labor force, and the quality of life you and your employees have been craving.
Colorado offers a supportive industry network
LATEST NEWS
West Star Aviation Embarks on Major 109,000 Sq Foot Expansion in Grand Junction
West Star Aviation Announces Major 109,000 SF Expansion In Grand JunctionGrand Junction, Colorado (October 2, 2024) -- West Star Aviation has announced plans for the construction of a new hangar at its full-service Grand Junction (GJT) Maintenance Repair and Overhaul...
SG Aerospace and JFS LLC Named Colorado Companies to Watch Award Winners
SG Aerospace and JFS LLC Named Colorado Companies to Watch Award WinnersGrand Junction, Colorado (June 26, 2024) Two Grand Junction-based companies, SG Aerospace & Gas and JFS LLC, have been named Colorado Companies to Watch Award winners. Since 2009, Colorado...
NASA Names Colorado Mesa University an Emerging Research Institution with Inaugural Grant
NASA Names Colorado Mesa University an Emerging Research Institution with Inaugural Grant Grand Junction, Colorado (February 29, 2024) — The new partnership between NASA and CMU offers a unique research opportunity for undergraduate students. This February, a new,...
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A Personalized Approach to Business
Incentives and Financing
State and Federal
Incentives
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Rural Jump-Start Zone Tax Credit Program
New and expanding businesses in Mesa County may be eligible for this “tax holiday” for up to eight years, that includes zero state income taxes; zero state and local sales and use taxes; zero county and municipal real and business personal property taxes; and zero state income taxes for employees.
Strategic Fund Incentive
The Strategic Fund Incentive supports and encourages new business development, business expansions, and relocations that generate new jobs throughout the State of Colorado. It is a cash incentive program for eligible businesses that create net new full-time jobs in the State of Colorado that are maintained for at least one year.
Opportunity Zones
Opportunity Zones are economically distressed community where certain new investments may be eligible for preferential tax treatment. There are seven Opportunity Zones in Colorado’s Grand Valley, which encompass most of central Grand Junction, including the new downtown river district, as well as Powderhorn Mountain Resort on the Grand Mesa.
Job Growth Tax Incentive
A performance-based program for businesses pursuing job creation projects that would otherwise not occur in Colorado. Businesses that create at least 20 net new jobs in Colorado within a credit period may be eligible for a state income tax credit equal to 50% of FICA paid.
Innovative Housing Incentive Program (IHIP)
A business located in Colorado that has 500 or fewer employees and that manufactures certain types of housing may apply for funding through the program. Funding may be awarded through grants for operating expenses and for incentives for units manufactured based on criteria established by the office such as affordability, location where the unit is installed in the state, or meeting energy efficiency standards. Funding may also be awarded through loans that fund a new housing manufacturing factory or the expansion of an existing housing manufacturing factory.
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Enterprise Zone
Mesa County is a designated Colorado Enterprise Zone, providing businesses with tax credits for specific (pre-certified) business operations, including hiring new employees, providing employees with health insurance and job training, obtaining a new business facility, and purchasing new equipment, if they locate or expand in a designated “enterprise zone.”
Colorado FIRST / Existing Industry Customized Job Training
Customized job training programs that increase transferable job skills that support both the company’s economic competitiveness and enhance worker’s resumes and long-term employment opportunities. The program focuses on companies relocating to, or expanding in, Colorado and provides funds only to net new hires.
Manufacturing Sales and Use Tax Exemption
A local sales tax exemption on purchases of machinery and machine tools over $500 to be used directly and predominantly in manufacturing tangible personal property for sale.
Advanced Industries Export Grant
The Advanced Industries Export Grant helps Colorado-based advanced industries technology businesses who want to export or are currently exporting. This grant is for small- and medium-sized businesses. It reimburses for international business development and marketing costs. Businesses can apply for up to $15,000 and up to 50% of the approved expenses.
The Global Consultant Network is also funded through this program. Colorado-based businesses can receive consulting support to help them expand into other countries. Consulting services typically last between three and eight months.
Consultants offer these services:
- Market entry services
- In-country partner meetings
- Other services (cost dependent on service)
Advanced Industries Early-Stage Capital and Retention Grant
The Advanced Industries Early-Stage Capital and Retention Grant helps Colorado-based advanced industries technology businesses develop and commercialize advanced technologies that will be created or manufactured in Colorado. Projects can receive up to $250,000. This grant award maximum can be lifted for projects that impact more than one advanced industry.
The market typically under-invests in early-stage technologies. The grant’s goal is to fill the gap left by the market. The grant is not meant to compete with existing funding.
The Global Business Development (GBD) division administers this grant in partnership with Colorado’s advanced industry trade associations and receives final approval from the Economic Development Commission.
Local Incentives
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Mesa County and City of Grand Junction Business Personal Property Tax Rebate
A new or existing business that invests a minimum of $1 million in new business facilities or equipment, and increases employment by 10% or one full-time employee, may receive a rebate for 100% of business personal property tax paid to Mesa County and the City of Grand Junction
City of Grand Junction Sales and Use Taxes on Manufacturing Consumables
Businesses have the opportunity to waive 100% of sales and use tax paid to the City of Grand Junction on manufacturing consumables used in the manufacturing process.
Grand Junction Economic Partnership Incentive Fund
GJEP’s Board of Directors may provide eligible businesses with cash incentives for capital expenditures and primary job creation in the Grand Valley.
On-the-Job Training Program
A limited-duration contract between an employer and the Mesa County Workforce Center that offsets wages while new employees are onboarding and training.
Talent Pipeline & Workforce Development
Grand Junction is an ACT Certified Work Ready Community with a strong talent pipeline and workforce development through Colorado Mesa University and CMU Tech.
Mesa County is home to:
- 4,161 Aerospace occupations
- 1,461 Cybersecurity occupations
- Veterans comprise 6% of the workforce
Opportunity Zones
The Grand Junction area is home to seven federally designated opportunity zones. These Colorado opportunity zones allow private investors to enjoy tax incentives for investing in real estate projects and operating businesses in the area. Businesses investing in these areas can receive tax incentives through deferrals, reductions, and possible elimination of certain federal capital gains taxes.
Included within these opportunity zones is the Riverfront at Las Colonias. This 15-acre business park is among the attractive, shovel-ready real estate opportunities in the region.
