Living in Rio Blanco | Meeker and Rangely 2020 - Magazine - Page 25
BUSINESS
BUSINESS
INCENTIVES
The State of Colorado, Rio Blanco County and the towns of Meeker and
Rangely are supportive of many business endeavors and opportunities.
OPPORTUNITY ZONE
ENTERPRISE ZONE
Much of Eastern Rio Blanco County, including the town
of Meeker, is located in a rural Opportunity Zone (OZ),
a federal tax incentive for investors which allows for
the favorable treatment of reinvested capital gains and
forgiveness of tax on new capital gains.
Rio Blanco County is part of the Northwest Colorado
Enterprise Tax Zone (EZ) which offers a variety of state
income tax credits.
DESIGNATED COLORADO
RURAL JUMP-START ZONE
This program, administered through the Colorado Office
of Economic Development and International Trade, the
Colorado Economic Development Commission and the
Colorado Department of Revenue, offers tax relief for new
businesses and new hires. Additionally the program offers
businesses the following benefits:
•
Relief from state income taxes for new business
•
Relief from state sales and use
tax for the business
•
Relief from county and municipal personal
property taxes for the business
•
Relief from state income taxes for the employee
AIRPORT
DEVELOPMENT ZONE
A business or any portion of a business that is involved
in the maintenance and repair, completion or modification
of aircraft located within the boundaries of an airport
designated as an Aviation Development Zone may qualify
for a state income tax credit of $1200 per new full-time
employee.
LOCATION NEUTRAL
EMPLOYMENT PROGRAM
This new performance-based Location Neutral Employment
Incentive provides a standard Job Growth Incentive Tax
Credit for urban/rural job creation with an additional
Strategic Fund cash incentive for each remote rural job
created in an eligible rural county. The Location Neutral
Employment incentive provides a state income tax credit
and a per job cash grant to businesses undertaking job
creation projects that would not occur in Colorado without
this program.
TOWN PROGRAMS
In addition to state and federal incentives, the towns of
Meeker and Rangely support business through microgrants.
In Meeker, eligible businesses may apply for grant funds
to be used to facade improvements or for business
development and expansion activities. The Rangely
Development Authority offers grants to businesses for
facade and site improvements through their grant program.
For more information regarding the town grants, please
contact the Town of Meeker or the Town of Rangely
directly.
For more information regarding these programs and other tax
credits, contact the Rio Blanco County Economic Development
Department at eco@rbc.us or 970-878-9582.
RIO BLANCO, COLORADO
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