Available Sites and Financing
There are a variety of building sites available throughout Crowley County. Financing is available through a variety of mechanisms. A local Revolving Loan Fund can participate in finance. Additionally, the Business Lending Center is a Certified Development Company under the auspices of the Small Business Administration and can assist in arranging "504" Loan Program financing. Local banks have strong relationships with larger banks in Pueblo and Denver, and can provide a variety of financing.
Basic utility service can generally be provided at no more than normal "hook up" charges to the business. If there are special needs, the cost of these developments will be negotiated. Also available are State and Federal Grants-in-aid to support these developments.
Rural Enhanced Enterprise Zone Tax Incentives
Under Colorado's Enterprise Zone legislation, existing, expanded, and new businesses in the Southeast Colorado Rural Enterprise Zone are eligible for a variety of state tax incentives. To find out whether you can benefit, read the following guidelines and then call Southeast Colorado Enterprise Development, Inc. (SECED) to learn more about your specific incentives. The number is 888-336-3850.
Tax Credits for New Employees:
$2,500 job tax credit or refund.
Businesses that hire new employees in connection with a new business facility located in an Enterprise Zone may claim a tax credit (or refund) against state income taxes of $2,500 for each new employee. (Expansion of an existing facility must be either a $3 million expansion or, if less, 300% the original investment.)
New business facilities.
During their first two years in an Enterprise Zone, businesses are allowed to take an additional $200 job tax credit for all new employees who are insured under health insurance plans provided by employers.
Tax Credits and Exemptions for Equipment and Manufacturing:
Three percent investment tax credit.
Businesses which make investments in equipment that would have qualified for the former federal investment tax credit may claim a three percent investment tax credit on state income taxes.
Exemption from State Sales and Use Tax for Manufacturing Equipment:
Businesses which purchase manufacturing equipment and machine tools are exempt from the three percent state sales and use tax.
Tax Credit for Agricultural Manufacturing or Processing Facilities:
Businesses, which add value to agricultural commodities through manufacturing or processing, may claim an additional credit or refund of $1,000 per new business facility employee.
Tax Credit for Research and Development:
Effective August 2002, businesses which conduct research and development in an Enterprise Zone may claim a 25% R&D credit against their Colorado income taxes (as defined in federal tax law).
County Finance and Budget Office
Crowley County Courthouse
Ordway, CO 81063