Companies have discovered that Western Colorado offers much more than spectacular scenery — you'll find a committed work force, a central location and a great place to raise a family. Our business climates are diverse in size and character — from "can-do" rural areas to bustling metro areas of over 100,000 residents. And, with Colorado's unparalleled mountains and quality of life, worker attraction and retention are easy. The Western Colorado business climate includes manufacturing, energy, mining, tourism, government agencies, agriculture and ranching. Western Colorado is experiencing a strong growth trend, with significant growth in manufacturing, business services and lone eagle businesses. A sampling of manufacturers from across Western Colorado includes light manufacturing, call centers, composites, food products, software developers and agricultural products.

In addition to our friendly, hardworking people, our forward-thinking attitude and great small town feeling, there are significant business and financial gains to locating in Western Colorado. Because it is considered a rural area, many additional tax incentives, loans and programs are available, such as:

ENTERPRISE ZONES

Much of Western Colorado is included in Enterprise Zones, which translate to state income tax credits and other benefits for businesses that locate or expand in a zone. Benefits within an Enterprise Zone may include:

• A $500 tax credit for each new full-time employee
• An additional $500 tax credit for each employee in agricultural processing or manufacturing
• A $200 tax credit for employer health insurance
• A 3% investment tax credit for equipment
• A 3% tax credit for R & D expenditures
• A 25% tax credit up to $50,000 to rehabilitate vacant buildings
• A 10% tax credit for qualified job training
• Exemption from state sales tax and use tax for manufacturing and mining equipment
• Local government tax incentives

In April 2002 the Colorado Office of Economic Development authorized these for profit companies to provide venture capital and other financing for start-up or expanding businesses in Colorado. CAPCOs have access to $100 million in 2002 and another $100 million in 2004. The individual CAPCOs have significant flexibility in selecting companies, but the law requires that at least 25% of the funds are set aside for use in rural counties. All of Western Colorado qualifies as a rural county for this program.

For more information, visit www.state.co.us/oed/bus_fin/capco.html

SMALL BUSINESS DEVELOPMENT CENTERS

Located throughout Western Colorado, Small Business Development Centers provide free one-on-one counseling to help companies grow, increase productivity, improve management and succeed. The Centers offer business plan counseling, referrals to financial resources and technical and marketing assistance. Business training seminars are also available throughout the year. www.state.co.us/oed/sbdc

COMMUNITY DEVELOPMENT BLOCK GRANTS

Two programs support local economic development efforts in rural areas of Colorado. The Revolving Loan Fund Program and the Direct Infrastructure Assistance Program provide funds to businesses that commit to creating or retaining full time jobs for low to moderate income people. The Revolving Loan Fund provides loans for a variety of business purposes. The Direct Infrastructure Assistance Program provides funds for projects such as roadways, utilities, rail spurs and water/wastewater treatment facilities.
www.state.co.us/oed/bus_fin

Colorado offers a very business-friendly tax structure:

Colorado's economic climate has earned straight A's for 8 consecutive years from the prestigious Corporation for Enterprise Development. No other state has received straight A's for more than 2 consecutive years.

Check out the Business Assistance Center for questions about licensing requirements, taxes and other regulations at www.state.co.us/oed/bac