FOR IMMEDIATE RELEASE (December 22, 2017 | Grand Junction, CO) – Yesterday, the Economic Development Commission, a division of the Colorado Office of Economic Development and International Trade (OEDIT), approved three more companies to join the Rural Jump-Start Tax Credit program in Mesa County. This makes 11 total local participants in the program since its inception January 2016.
The three new participants are:
- Phoenix Haus: a Detroit transplant that designs open-sourced, carbon-free house templates, moved to Grand Junction in October and is in the process of hiring its 4th local employee.
- Pierce Corporation: a manufacturer of irrigation systems that chose to move operations from Idaho and Oregon in large part due to the milder climate in Colorado’s Grand Valley.
- Rocky Mountain Manufacturing: a local startup manufacturing a new, patented prosthetic device.
The Grand Junction Economic Partnership (GJEP) has worked with all 11 companies on their applications to the program and projects together they will bring over 650 new jobs to Mesa County over the next five years. Each job is required to meet or exceed the average annual salary in the county ($40,898 as of press time).
The Jump-Start Tax Credit program allows eligible companies to receive up to eight years of zero state income and sales & use taxes; zero county and municipal property taxes and sales & use taxes; and zero state income taxes for their employees. In exchange, the businesses will add a minimum of five net new jobs to the county in high-paying, highly skilled fields. The companies also agree to form a partnership with Colorado Mesa University, a local institute of higher education, through mentorship, internship opportunities and community involvement.
“Jump-Start continues to be an invaluable tool for our business recruitment efforts,” stated Robin Brown, GJEP executive director. “The program allows us to attract and retain companies in advanced industries that help grow primary job opportunities in the Grand Valley. It also helps our region compete with other, more recognized innovation hubs.”