Enterprise Zone

The Colorado Enterprise Zone (EZ) Program was created by the Colorado Legislature to promote economic development in economically distressed areas. The Enterprise Zone areas offer income tax credits that provide incentives for businesses to locate and develop in eligible communities.

In August of 2015 the Colorado Economic Development Commission voted to expand Clear Creek County’s Enterprise Zone to include the entire County. The Clear Creek County Zone is administered by the Northwest EZ. This new expanded zone commenced January 1, 2016.

Business Income Tax Credits Incentive Amount
Investment Tax Credit 3% of equipment purchases
Commercial Vehicle Investment Tax Credit 1.5% of commercial vehicle purchases
Job Training Tax Credit 12% of qualified training expenses
New Employee Credit $1,100 per new job
Agricultural Processor New Employee Credit $ 500 per new job
Employer Sponsored Health Insurance Credit $1,000 per covered job
R&D Increase Tax Credit 3% of increased R&D expenditures)
Vacant Building Rehabilitation Tax Credit 25% of rehab expenditures (hard costs)
Additional EZ Incentives Incentive Amount
Manufacturing/Mining Sales & Use Tax Exemption Expanded S&U tax exemption in EZ
Contribution Tax Credit 25% cash/12.5% in-kind on contributions to EZ projects

Additionally, municipalities, counties and special districts may have increased flexibility pertaining to local incentives per CRS 39-30-107.5 if located in the Enterprise Zone.

*Contribution Tax Credits – For approved projects taxpayers making cash contributions qualify annually for a 25% tax credit up to $100,000 or a 12.5% credit for in-kind contributions up to $50,000.

The following private contribution programs are eligible:
• Administration & Marketing Contribution Projects
• Business Assistance
• Community Development
• Homeless Shelters
• Job Training
• Public Infrastructure

For more information contact Lindsey Valdez at 303.569.2133 or at clearcreekec@earthlink.net
or the Zone Administrator, Bonnie Peterson, at 970/285-7630

Special Projects

CCEDC administers special studies, reports, community projects, provides grants for local events, and marketing in an effort to promote and stimulate the economy. CCEDC utilizes sales tax funds to help pursue its community goals through partnerships that share CCEDC's goals. Grant funding is available to non-profits and public entities in Clear Creek County and its municipalities. Funds are available on a first come, first served basis. Some of the more recent studies funded include:

2012 Housing Need Assessment
2014 Clear Creek County Assessment
2014 Targeted Industry Study
2014 Hotel Feasibility Study
2015 Clear Creek County Geothermal Baseline Date Study
2016 Exit 240 Economic Hub Feasibility Report

For a Special Projects Funding Grant Application please contact:
Lindsey Valdez
303.569.2133
clearcreekec@earthlink.net

SiteStats

CCEDC is able to provide an economic impact analysis of economic development and real estate projects utilizing the SiteStats modeling program. The economic and fiscal data is an important tool for evaluating the economic and fiscal impacts of new, expanding, and existing site specific development for decision makers. CCEDC staff can run the model for developers for a fee. Contact Lindsey Valdez at (303)569-2133 for more information.

State Incentives

  • Job Growth Tax Incentives - Provides a state income tax credit to businesses with job creation that would not occur without the program.
  • Local Government Incentives - Local governments can provide property tax credits or incentive payments based on the amount of increased property taxes for qualifying new business activity.
  • Biotechnology Sales and Use Tax Refund - Colorado promotes its biotechnology industries by providing them with a taxpayer friendly way to recover the sales and use previously paid tax expenses on equipment and supplies used for research and development.
  • Advanced Industry Investment Tax Credit - Helps Colorado advanced industry companies receive capital from Colorado investors.
  • Film Incentive - The office of Film Television & Media attracts and facilitates content creation in the state in order to generate economic growth and job creation. The office administers a 20% performance based rebate.
  • Strategic Fund Incentive - Supports and encourages new business development, business expansions and relocations that have created new jobs.
    • Local Government Incentives - Local governments can provide property tax credits or incentive payments based on the amount of increased property taxes for qualifying new business activity.
    • Manufacturing Sales and Use Tax Exemption - Colorado provides an exemption from state sales and use tax on purchases of manufacturing machinery, machine tools and parts.
    • Aviation Development Zone Tax Credit - A business that is involved in the maintenance, repair, completion or modification of aircraft located within an airport designated as an Aviation Development Zone may qualify for state income tax credit of $1,200 per new full-time employee.
    • Rural Economic Development Initiative (REDI) Grant Program - The REDI Grant Program help eligible rural communities develop plans and undertake projects to create jobs, drive capital investment, and increase wages to help grow and create resiliency and diversity in the local economy.
  • Enterprise Zone Tax Credits - The Enterprise Zone (EZ) program provides tax incentives to encourage businesses to locate and expand in designated economically distressed areas of the state.
  • Public Infrastructure Grants - This program is designed to create new permanent jobs and retain existing jobs, primarily for low and moderate income persons.
  • Sales Tax Exemption on Components for Production of Energy from Renewable Energy Sources - Components used in the production of electricity from a renewable energy source including wind, are exempt from state sales and use tax.
  • Colorado Tourism Matching Grant Program - CTO Matching Grant Program provides assistance to the tourism for marketing efforts.
  • Colorado Creative Industries Grants and Programs - CCI promotes, supports, and expands the creative industries to drive Colorado's economy, grow jobs and enhance the quality of life.

Local Incentives

  • Clear Creek County Enterprise Zone - Development and investments in Clear Creek County may be eligible for EZ tax credits. Contact Peggy Stokstad at 303.569.2133 Associated Governments of Northwest Colorado - Zone Administrator Bonnie Peterson at 970/285-7630
  • Business Loan Fund Program - The BLF program offers attractive financing packages to qualifying businesses in Clear Creek and Gilpin counties.
  • Business Assistance - CCEDC will help development every step of the way and offers one on one counseling to identify project needs.
    • Tax Rebates - Several municipalities offer sales tax incentive structure for development and redevelopment.
  • Expedited Government Process & Waivers - Local governments may offer assistance with permits and fee and impact waivers. Please contact the appropriate entity.
  • Clear Creek County Water Bank - The County has water resources available to augment development needs.
  • Please contact local governments for specific information on assistance offered.
    Clear Creek County
    303-679-2312

    City of Idaho Springs
    303-567-4421

    Town of Empire
    303-569-2978

    Town of Silver Plume
    303-569-2363

    Town of Georgetown
    303-569-2555