Steamboat Springs will become part of the Northwest Colorado Enterprise Zone next year, making a variety of state tax credits available for eligible business investors within the city. For the first time, the Colorado Economic Development Commission included Steamboat Springs within the Northwest Colorado Enterprise Zone boundary, which also includes the balance of Routt County and Garfield, Moffat, Rio Blanco, Jackson, Grand and Clear Creek counties. The inclusion of Steamboat Springs within the Enterprise Zone was supported by the City of Steamboat Springs, Routt County, Steamboat Springs Chamber Resort Association, and Steamboat Springs Economic Development Council. Business owners and managers in Steamboat are encouraged to learn more about the program and complete the required precertification at the beginning of the 2016 calendar year.
About the Colorado Enterprise Zone (EZ) Program
The Colorado Enterprise Zone (EZ) Program was created by the Colorado Legislature (C.R.S. Title 39, Article 30) to promote a business friendly environment in economically distressed areas by offering state income tax credits that incentivize businesses to locate and develop in these communities. Taxpayers investing in Enterprise Zones can earn a credit on their Colorado income tax by planning and executing specific economic development activities. The statewide program is managed by the State Office of Economic Development and International Trade (OEDIT) and administered through regional partnerships. The Associated Governments of Northwest Colorado is the administrator of the Northwest Enterprise Zone.
Current incentives include tax credits for investment, job training, increased R&D vacant building rehabilitation, commercial vehicle investment, as well as job creation, agricultural processing, and health insurance credits linked to new job creation. Follow this link for detailed information about available tax credits and eligibility rules.