During this episode of Business Beat, GJEP’s Steve Jozefczyk speaks with Michelle Krug, Mesa County Enterprise Zone Administrator with the Business Incubator Center regarding the program.
Business Beat originally aired live on KAFM Community Radio on October 25, 2022.
The Colorado Legislature created the Enterprise Zone program to promote economic development by offering state income tax credits to businesses for investment, expansion, and job creation. Non-profit organizations qualified by the Enterprise Zone can also benefit from these state income tax credits to the donors which encourages community involvement and support. There are two types of tax credits within the Enterprise Zone Program—business tax credits and donation tax credits.
In designated enterprise zones:
- businesses are eligible for state income tax credits and sales and use tax exemptions for specific business investments
- economic development projects form by incentivizing taxpayers to contribute through state income tax credits
- taxpayers who contribute to enterprise zone projects may earn income tax credits
Enterprise zone areas within rural counties that meet additional economic distress criteria receive enhanced rural enterprise zone status. Businesses within enhanced rural enterprise zones earn additional tax credits when adding net new employees.
Mesa County has contracted with the Business Incubator Center to administer the program. To apply for business credits or contribution projects contact Michelle Krug at email@example.com or call 970-243-5242.
For more information, please visit: gjincubator.org/mesa-county-enterprise-zone