Longmont, CO: The Colorado Economic Development Commission today approved amendments to the boundary area of the North Metro Enterprise Zone within the City of Longmont, providing Enterprise Zone benefits to businesses in additional qualifying strategic portions of the City. Colorado’s Enterprise Zone program provides tax incentives to encourage businesses to locate and expand in designated economically distressed areas of the state – those having a high unemployment rate, low per capita income, or a low population growth rate.
In Longmont, the existing North Metro Enterprise Zone area that was established in 2016 includes the Village at the Peaks, significant portions of the St. Vrain river corridor area, 1st and Main redevelopment area, and Southeast Longmont Urban Renewal Area. With the boundary amendment approved today, the North Metro Enterprise Zone will also include:
- Both sides of Main Street from 9th all the way to Highway 66;
- Expansion of the Downtown EZ area on the east from 5th to 9th;
- A census block group area on the west side of Main Street bound on the north by the river, on the south by Missouri Ave., and on the west by Bowen;
- Weaver Park industrial area bound by Sugarmill Road on the south, 5th Avenue on the north, Lashley on the east, and Pace Street on the east; and
- A census block group area in southwest Longmont bound by 9th Avenue on the north, Nelson Road on the south, Airport Road on the east, and Hover on the west.
The new zone area is effective immediately, though it will take some time to update the state’s mapping and certification systems. Businesses located within the new EZ boundary area can pre-certify immediately, though, which is a requirement to earn Enterprise Zone tax credits. In the coming weeks Longmont Economic Development Partnership, City of Longmont, and LDDA will reach out to all business and property owners in the area to educate them on the benefits and how to make use of the Enterprise Zone program. Business and property owners wishing to inquire whether they are located within the zone should contact the Longmont Economic Development Partnership who serves as the North Metro Enterprise Zone administrator.
“These North Metro EZ boundary amendment areas are critical to the City’s and Longmont EDP’s economic development efforts, as they represent areas of focus within the community with both the greatest need, and the greatest opportunity for job creation and investment,” stated Longmont EDP president and CEO Jessica Erickson. “Enterprise Zone designation in these areas will help to spur the necessary investment in development and redevelopment that will allow the community to capitalize on current and future job creation opportunities.”
About The Longmont Economic Development Partnership: The Longmont Economic Development Partnership is a public/private 501c(6) non-profit economic development organization serving the greater Longmont area. As Longmont’s primary agent for economic development, the Partnership leads a comprehensive and collaborative economic development strategy to promote and strengthen the Longmont community’s economic health. The Longmont Economic Development Partnership offers a variety of services and resources to support the relocation, retention, and expansion of business in Longmont and serves as the gateway to Longmont for all businesses.