Enterprise Zone
Colorado’s
Urban and Rural Enterprise Zone Act of 1986 established
a program to encourage new capital investment and job
growth in economically distressed areas of the state.
Companies that are located in an Enterprise Zone area
are eligible for various state income tax credits.
The Jefferson County Enterprise Zone is one of 16 designated
Zones. It was established in 1991. Since that time,
businesses located in the Jefferson County Enterprise
Zone have added over $300 million in capital investment
and have created over 5,000 new jobs within the Zone.
Jefferson Economic Council, a public/private nonprofit
economic development agency, administers the program
in the county.
The
Lakewood Enterprise Zone (EZ) covers the commercial
property along the West Colfax Avenue corridor between
Youngfield Street and Sheridan Boulevard. The EZ includes
the Lakewood Technology Center located between Colfax
Avenue and the West 6th Avenue Freeway. The EZ includes
commercial property along Sheridan Boulevard between
Colfax Avenue and West Alameda Avenue, and extends west
along Alameda Avenue from Sheridan Boulevard to the
west side of Wadsworth Boulevard. Businesses located
within the Zone can claim the credits described below.
Businesses
located within the EZ may claim Colorado income tax
credits for job creation, investment in manufacturing
equipment, contributions to EZ plans and for research
and development.
The Lakewood Enterprise Zone tax credits are:
• A 3% investment tax credit for purchases of machinery
and equipment.
• $500 per new employee tax credits for new and
expanding businesses.
• An additional $200 per new employee credit for
businesses offering an employee health insurance plan.
• A 10% credit for qualified employer job training
and school-to-work costs.
• A 3% credit for increases in qualified expenditures
for research and experimentation.
• A statewide exemption from state sales and use
tax for purchases of manufacturing equipment and machine
tools, as well as materials used in their construction.
• A 25% tax credit (up to $50,000) for renovation
of 20+ year old buildings vacant for over two years.
•
A 25% tax credit for cash contributions to certified
enterprise zone projects up to $100,000
•
A 12.5% tax credit for in-kind contributions up to $50,000.
To verify if a taxpayer’s address is within the
Jefferson County Enterprise Zone or if you have any
questions regarding filing procedures, please contact:
Jefferson County Enterprise Zone Administrator
Jefferson Economic Council
1667 Cole Blvd., Ste. 400
Golden, CO 80401-3313
303-202-2965
FAX 303-202-2967
Visit their website at: www.jeffco.org
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