Colorado's Mesa County Jumps on New Business Tax Credits
Colorado's new Rural Jump-Start Zone Tax Credit Program is expected to bring more business, job growth to Mesa County.
Grand Junction, CO, December 20, 2015 --(PR.com)-- This morning, Colorado Senator Ray Scott, Rep. Yeulin Willett, Commissioner Rose Pugliese, Mayor Phyllis Norris, Mayor Lori Buck, Trustee Thea Chase and President Tim Foster of Colorado Mesa University jointly declared Mesa County “open for business,” as part of the application process to participate in the Rural Jump-Start Zone Tax Credit Program, a new program designed to grow the economies of rural areas in Colorado.
“I am excited to see everyone coming together to support this effort,” said Mesa County Commissioner Rose Pugliese. “It shows our commitment as a community to rebuild our economy and bring in more jobs for our citizens.”
Jump-Start is a joint effort between counties, municipalities, higher education institutions and business communities in the state of Colorado to grow jobs in industries such as advanced manufacturing, aviation, food processing, biotech and other technologies. There are 44 counties eligible to apply for the program but only three counties will be able to participate in the first year. Mesa County, the cities of Grand Junction and Fruita, and the Town of Palisade, passed resolutions in the past week to be part of the program. Upon their agreement, Colorado Mesa University filed the application Thursday afternoon.
“Each year, we lose a talented crop of graduates because we cannot offer them the same type of high-paying jobs that you see on the Front Range and in other parts of more the country,” said President Foster. “Our students have the skills and the aptitude to compete for the best jobs, and with Jump-Start, they will be able to find those jobs right here in Mesa County.”
The Jump-Start Program requires businesses to create a minimum of five net new jobs in the county where they locate in exchange for relief from state income and sales & use taxes; county and municipal personal property taxes; and state income taxes for their employees for up to eight years. To further enhance the program, Mesa County’s local jurisdictions added a number of other local tax incentives to the program. Additional requirements for businesses include that the core function of the business cannot compete with existing businesses in the state and the business must establish a relationship with an institute of higher education in their county.
Per the Grand Junction Economic Partnership (GJEP), which helped lead the effort to establish a rural tax credit program in Colorado, several businesses have already shown an interest in taking advantage of Jump-Start to locate in Mesa County.
“We’ve had inquiries from 11 companies in six industries,” said GJEP executive director Kristi Pollard, “and at least six companies plan to apply in the New Year.”
Colorado Mesa University should receive a response to its application from the Colorado Office of Economic Development & International Trade by January 14, and individual businesses may begin submitting their applications starting January 19, 2016.
For more information about the Rural Jump-Start Zone Tax Credit Program in Mesa County visit www.jumpstartmesaco.com.
“I am excited to see everyone coming together to support this effort,” said Mesa County Commissioner Rose Pugliese. “It shows our commitment as a community to rebuild our economy and bring in more jobs for our citizens.”
Jump-Start is a joint effort between counties, municipalities, higher education institutions and business communities in the state of Colorado to grow jobs in industries such as advanced manufacturing, aviation, food processing, biotech and other technologies. There are 44 counties eligible to apply for the program but only three counties will be able to participate in the first year. Mesa County, the cities of Grand Junction and Fruita, and the Town of Palisade, passed resolutions in the past week to be part of the program. Upon their agreement, Colorado Mesa University filed the application Thursday afternoon.
“Each year, we lose a talented crop of graduates because we cannot offer them the same type of high-paying jobs that you see on the Front Range and in other parts of more the country,” said President Foster. “Our students have the skills and the aptitude to compete for the best jobs, and with Jump-Start, they will be able to find those jobs right here in Mesa County.”
The Jump-Start Program requires businesses to create a minimum of five net new jobs in the county where they locate in exchange for relief from state income and sales & use taxes; county and municipal personal property taxes; and state income taxes for their employees for up to eight years. To further enhance the program, Mesa County’s local jurisdictions added a number of other local tax incentives to the program. Additional requirements for businesses include that the core function of the business cannot compete with existing businesses in the state and the business must establish a relationship with an institute of higher education in their county.
Per the Grand Junction Economic Partnership (GJEP), which helped lead the effort to establish a rural tax credit program in Colorado, several businesses have already shown an interest in taking advantage of Jump-Start to locate in Mesa County.
“We’ve had inquiries from 11 companies in six industries,” said GJEP executive director Kristi Pollard, “and at least six companies plan to apply in the New Year.”
Colorado Mesa University should receive a response to its application from the Colorado Office of Economic Development & International Trade by January 14, and individual businesses may begin submitting their applications starting January 19, 2016.
For more information about the Rural Jump-Start Zone Tax Credit Program in Mesa County visit www.jumpstartmesaco.com.
Contact
Grand Junction Economic Partnership
Cilia Kohn
970-245-4332
gjep.org
Cilia Kohn
970-245-4332
gjep.org
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