Click here to Take the Workforce Perceptions Survey
Economic Summit Website Banners
1
3

COLORADO ENTERPRISE ZONE

WHAT IS THE COLORADO ENTERPRISE ZONE?

A state funded program that was created to promote a business friendly environment in economically distressed areas by offering state income tax credits that incentivize businesses to locate and develop in, and non-profit organizations to assist with the needs of these communities.

MAJOR BENEFITS

Enterprise Zone tax credits can have a significant impact, from $1,000 to $750,000. The following incentives can be earned by business located in the Enterprise Zone.

Business Income Tax Credits
  • Investment Tax Credit | 3% of depreciable equipment purchases
  • Commercial Vehicle Investment Tax Credit | 1.5% of commercial vehicle purchase
  • Job Training Tax Credit | 12% of qualified training expenses
  • New Employee Tax Credit | $1,100 per new job
  • Agriculture Processor New Employee Tax Credit | $2,000 per new job
  • Employer Sponsored Health Insurance Credit | $1,000 per covered employee
  • 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
  • Manufacturing/Mining Sales and Use Tax Exemptions | Expanded S&U tax exemption in EZ
  • Contribution Tax Credit | 25% cash / 12.5% in-kind on contributions to EZ projects
PRE-CERTIFICATION IS REQUIRED

Each income tax year, a business located in the Colorado Enterprise Zone must apply and must be pre-certified prior to beginning an activity to earn any of the business tax credits listed. At the end of the income tax year, a business must certify that the activities were performed. Pre-certification and certification are easily applied for online and are required annually.

PRE-CERTIFY HERE
ARE YOU IN THE NORTH METRO ENTERPRISE ZONE?

Enter your address to find out if your business is located in the Enterprise Zone and qualifies for these tax credits.

Contribution Projects

The Enterprise Zone Contribution Tax Credit provides a tax credit to Colorado taxpayers who contribute to targeted enterprise zone (EZ) projects. When taxpayers make a certified contribution, they can claim:

  • 25% of a cash donation as a state income tax credit
  • 12.5% of an in-kind donation as a state income tax credit
Current Contribution Projects within North Metro Enterprise Zone
  • Longmont Economic Development Partnership
  • Longmont Downtown Development Authority
  • St. Vrain Valley School District
  • Pearl Promise
  • Tinkermill
  • We’ve compiled a list of Active Contribution Projects to consider investing in
Ready to Become a Contribution Project?

An enterprise zone contribution project needs to:

  • support the documented economic development goals for the enterprise zone 
  • link to job creation and retention and/or business expansion in the broader enterprise zone (not only at the project organization)
  • have support from the enterprise zone administrator and the community
 
Please fill out the form below. I’ve included the information you will need below. 
Apply to become a contribution project here

In order to complete the application, you will need the information listed below:

  1. Organization Information
    •  Organization Name
    • EIN
    • Address
    • Contact name, email, and phone
  2. Enterprise Zone Economic Development Role. Please choose one that applies:
    •  Stimulate capital investment
    • Increase employment opportunities
    • Promote workforce development
    • Revitalize central business districts and commercial corridors
  3. Project Type
    •  Capital Campaign Project:
      • Community facility
      • Workforce housing
      • Tourist attraction
      • Infrastructure 
    • Operations Project:
      • Business assistance
      • Economic development organization
      • Job training program
      • Visitor event/attraction
      • Healthcare
    • What activites will EZ contributions support?
    • Explain how the proposed EZ Contribution Project activities will help your organization reach the selected Economic Development Goal
    • Describe how the proposed activities directly and indirectly supports job creation and retention and/or business expansion in the EZ.
    • What additional federal, state, and/or community resources are supporting this effort?
    • Date of EZ CP Completion
    • Budget Estimate
  4. Expected Contributions
    • Monetary & In-kind
    • What is the minimum contribution amount you plan to accept? (North Metro’s is $100, and the cap is $250)
    • What types of in-kind contributions do you plan to accept?
  5. Required Attachments
    • Certificate of Good Standing
    • Community Letters of Support (3)
    • Signed W-9
    • EZ Admin map denoting the activity locations and area of economic impact?

Learn More

The State of Colorado offers additional information about the Enterprise Zone program and its associated incentives.

Click Here

Read More

Longmont Economic Development Partnership has put together a one-page fact sheet to read and reference as you explore the Enterprise Zone program.

Click Here

VIEW GUIDE

For help with Enterprise Zone Tax Credits, check out this helpful guide

Click Here

For more information about the North Metro Enterprise Zone, contact the North Metro EZ Administrator, Krista Colehower with Longmont Economic Development Partnership, by email at [email protected].

Don’t miss out on updates!

Sign up for our newsletter to get updates on jobs, events, and housing options.