Rural Jump-Start Program

About this funding opportunity

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1 Rural Jump-Start Program Program Summary

The Rural Jump-Start Program is a collaborative effort by the state, local governments, Institutes of Higher Education (IHE), and economic development organizations (EDO) to incentivize new businesses to start in or move to rural, economically distressed counties in Colorado, which are referred to as Rural Jump-Start zones, and hire new employees.

The Rural Jump-Start program was authorized in 2015 and began in 2016 as a tax incentive program for businesses located in a Rural Jump-Start zone, and in 2021 a grant program was created. If you are a business interested in participating in this program, please review all program qualifications, discussed in greater detail under the Business Eligibility section below, before applying.

Tax benefits include: 100% relief of State income tax for the new business, in the form of a tax credit certificate; 100% refund of State sales and use tax for the new business; 100% relief of County personal property tax for the new business, in the form of an incentive payment, exemption or refund; 100% relief of Municipal personal property tax for the new business (in participating municipalities), in the form of an incentive payment, exemption or refund; and 100% relief of State income tax for qualified New Hires, in the form of a tax credit certificate.

Grant benefits are dependent on the business' location: If a business is located in a Rural-Jump Start zone, businesses can receive a matching grant of up to $15,000 as a newly established business. If a business is located in a Rural-Jump Start zone that is also a Tier 1 Just Transition community, businesses can receive a matching grant of up to $25,000 as a newly established business.

The Rural Jump-Start Program will accept applications for the tax benefits through December 31, 2030 and for the grant benefits through June 30, 2028. Participating Rural Jump-Start Zones:

Alamosa, Archuleta, Clear Creek, Costilla,…

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

Rural Jump-Start Program is administered by Colorado Office of Economic Development and International Trade (OEDIT), listed via Colorado Office of Economic Development and International Trade.