Grand Junction, Colorado (June 21, 2023) — 
The Grand Junction Economic Partnership (GJEP) has released its latest video highlighting the Grand Junction area produced in partnership with the Colorado Office of Economic Development & International Trade (OEDIT). The video, titled Opportunity Awaits in Grand Junction, highlights the region as a place for investment through its seven federally designated Opportunity Zones.

The video puts the spotlight on the picturesque Riverfront at Las Colonias business park and showcases the area’s potential for economic growth and new development. Featuring several local businesses and community stakeholders including Bonsai Design, Camp Eddy, City of Grand Junction, and Colorado Mesa University, the video tells the story of development within the region and areas of opportunity for new investment and business development.

“Our community has experienced tremendous momentum over the past few years and many of the new investments we’re seeing are from the Opportunity Zone perspective. These designated Opportunity Zones provide a unique chance for visionary businesses to thrive and flourish”, stated Curtis Englehart, Executive Director of the Grand Junction Economic Partnership. “This video really tells the story of who we are as a community and highlights many of our shared values. We are thankful for the support of OEDIT and the opportunity to produce this asset that will be utilized as a focal point within our marketing efforts.”

The Opportunity Zone program is a federal incentive encouraging long-term private investment in historically low-income communities by giving investors tax benefits for investing in real estate projects and operating businesses. Investors can receive incentives through deferral and elimination of state and federal capital gains taxes. Over the past five years, the program has garnered much success throughout Colorado and amassed over $1 billion in new investment throughout the state.

“We are excited to see the Grand Junction area celebrated in this video. The Opportunity Zone incentive has driven over a billion dollars of needed investment into workforce housing, outdoor recreation, and businesses across Colorado. We have seen all three investment types in Grand Junction, which has exemplified best practices by identifying Opportunity Zone projects and businesses and working directly with investors to multiply investments in businesses and create new housing. This video continues the great work we’ve seen in Grand Junction since the program began in 2018,” stated Jack Tiebout, Senior Program Manager for the Colorado Office of Economic Development and International Trade.

There are seven Colorado Opportunity Zones in the Grand Junction area, primarily located near Downtown Grand Junction, Powderhorn Mountain Resort, and Grand Mesa. One of the most notable properties ready for investment is the Riverfront at Las Colonias business park. The Riverfront at Las Colonias is a 140-acre mixed-use space; and includes a 15-acre business park with seven shovel-ready pad sites along the Colorado River near Downtown Grand Junction. This development began as a public-private partnership to turn the City of Grand Junction’s blighted riverfront into a beloved community asset. The property is now home to 6 local businesses, the development of 322 housing units. It features attractive nearby amenities, including a 4,000-person capacity amphitheater, a botanical garden, a river park, and a zip line opening this summer.

As the Opportunity Zone (OZ) program nears its 2026 sunset, now is the time to take advantage of investment opportunities within these designated zones. This program aids in spurring economic growth and job creation in historically lower-income communities while providing tax benefits to investors. Investors can defer tax on any prior eligible gain to the extent that a corresponding amount is invested in a Qualified Opportunity Fund (QOF). The last day that investors can realize a capital gain that can be put into a QOF is December 31, 2026, but investors can hold an OZ investment as long as 2046 to realize its full 10+ year benefit, including the elimination of capital gains tax on the appreciation of the OZ investment itself. For businesses seeking to relocate or expand into the region, GJEP offers a range of support services, including assistance with site selection, access to business resources and incentives, and introduction to local and state networks.

PRESS CONTACT:

Selena Sanchez | Director of Marketing & Communications

selena@gjep.org | 970-245-4332 ext. 6