Enterprise Zone Program

About this funding opportunity

0 Enterprise Zone Program Program Summary

The Colorado legislature created the Enterprise Zone (EZ) Program to encourage development in economically distressed areas of the state. The 16 designated enterprise zones have high unemployment rates, low per capita income, or slow population growth. Local enterprise zone administrators manage their respective enterprise zones.

In designated enterprise zones: Businesses are eligible for state income tax credits and sales and use tax exemptions for specific business investments. Local governments and nonprofits can set up contribution projects to achieve economic development goals. Taxpayers who contribute to enterprise zone projects may earn income tax credits.

Enterprise zone areas within rural counties that meet additional economic distress criteria receive enhanced rural enterprise zone status. Businesses within enhanced rural enterprise zones earn additional tax credits when adding net new employees.

OEDIT is currently embarking on a two-year process to redesignate the enterprise zones associated with the Enterprise Zone Program. To learn more, visit our Enterprise Zone ReDesignation webpage.

Apply for a tax credit(opens in new window) Transfer your EZ record Overview

Type: Program

For: Municipalities, counties, and economic development offices

Zone designation renewal: Every 10 years

OEDIT division: Business Funding and Incentives

Collapse All Interactive enterprise zone map

To use this map, type in your address in the top left-hand corner. You may need to scroll out to identify whether or not you are located within an enterprise zone. If your location is highlighted in a color, you are located in an enterprise zone. If your location is in a checkered colored area, it is located in an enhanced rural enterprise zone.

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Colorado allows for 16 enterprise zones. All 16 zones are established, meaning no new enterprise zones can be created. Local governments can connect with the program manager or the zone administrator of the encompassing or contiguous area to discuss being included in an already established enterprise zone. Community measures

Colorado law defines population and economic distress measures for enterprise zones. Population measures

The population of a rural enterprise zone needs to be 150,000 or less. The population of an urban enterprise zone needs to be 115,000 or less. Economic distress measures

All enterprise zones need to meet at least one of these economic distress criteria defined by U.S. Census Bureau’s American Community Survey (ACS) data and/or Colorado Department of Local Affairs (DOLA) data. We post eligibility data from the ACS 5-year survey data that is released each December covering the period ending the prior calendar year.

To qualify, areas need to meet these criteria: 5-year population growth rate below 25% of the state average Unemployment rate that is 125% or greater than the state average Per capita income below 75% of the state average

Metric Current Benchmark

5-year Population growth rate Below 1.60% Unemployment rate Greater than or equal to 5.88% Per capita income Less than $27,311.25

The current Enterprise Zone Eligibility Data(opens in new window) spreadsheet identifies the eligibility of areas including counties, places, census tracts, and block groups. You will need to know the GeoID for the area of interest to use this resource. This resource is intended for enterprise zone administrators and people looking for changes to a boundary. Business tax credits and incentives

If you would like to apply for a tax credit, please see each individual tax credit page for specific eligibility and application requirements. We recommend reviewing the Enterprise Zone Income Tax Credit Guide(opens in new window) on the Colorado Department of Revenue's website for the complete eligibility requirements.

Enterprise Zone Contribution Tax Credit

12.5% of an in-kind donation and 25% of a cash…

Topic areas: Public Policy and Governance, Social Innovation and Community Development, Workforce Development.

Funding amount

This other provides Varies in funding.

Deadline

Applications are accepted on a rolling basis; there is no single fixed deadline.

Who can apply

This opportunity is open to the following applicant types:

• Not specified by the program.

Eligibility

The program did not publish a separate eligibility statement. See the official opportunity page for the full eligibility criteria.

Agency

Enterprise Zone Program is administered by Colorado Office of Economic Development and International Trade (OEDIT), listed via Colorado Office of Economic Development and International Trade.