April 12, 2018 – On Monday, the U.S. Treasury approved six tracts in Mesa County as “Opportunity Zones”. The tax status provides another promising opportunity for businesses interested in relocating to Colorado’s Grand Valley. Here’s more from The Daily Sentinel:
“The Opportunity Zone program, which was established in the 2017 federal tax reform bill, allows investors to shelter capital-gains taxes for 10 years.
The idea was to encourage the investment of funds that would otherwise go unrealized because of the tax exposure.
Economic development officials hope to layer Opportunity Zone incentives with others, such as Colorado’s Rural Jump-Start program, and local incentives, to attract businesses.
Such combinations can result in a ‘pretty robust package’ that can be offered to companies considering relocation, [Diane Schwenke of the Grand Junction Area Chamber of Commerce] said.
The six areas are:
■ Tract 3: Downtown from North Avenue to I-70B, and U.S. Highway 6&50 to Seventh Street
■ Tract 4: Area between F Road and North/6&50 between 25 Road and Seventh Street
■ Tract 5: F Road to North Avenue, between Seventh and 12th streets
■ Tract 7: South of North Avenue between 12th Street and the I-70B interchange
■ Tract 8: Las Colonias area
■ Tract 9: West End, which includes the area of Community Hospital, the Riverfront at Dos Rios area (formerly the Jarvis property), commercial parks and industrial parks.”
Read the story in The Daily Sentinel here.
Learn more about financing and incentives in Colorado’s Grand Valley here.
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