Colorado’s Enterprise Zone program was created by the Colorado Legislature 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 – the communities. Taxpayers investing in Enterprise Zones can earn a credit on their Colorado income tax by planning and executing specific economic development activities. These tax incentives are designed 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. Private-sector business activity encouraged by these income tax incentives brings job opportunities and capital investment to economically distressed areas. The private investments result in tax revenue for school districts, cities, counties and the state, outweighing the cost of the tax credits granted.
Created on March 16th, 2017 (last updated 10 months ago)