Darren Hollingsworth, Economic Development Manager
Email Economic Development
South Metro Enterprise Zone Approved for New Economic Development Response Contribution Project
The State of Colorado recently approved the COVID-19 Economic Development Response contribution project for the South Metro Enterprise Zone (Zone), which is comprised of the Cities of Englewood, Littleton, Sheridan, and the Town of Parker.
This project encourages donations to assist businesses within the Zone that have had to close, have limited operations, or are in the process of reopening due to the COVID-19 pandemic. Donors to the project will receive a 25% state tax credit. The project is now open to accept cash donations for eligible businesses; and 100% of all donations will be distributed to qualified businesses that have applied for assistance. The minimum donation is $100.
Visit COVID-19 Economic Development Response to learn how you can begin donating to assist these businesses and receive a 25% State of Colorado tax credit.
Searchable Address Map (outside link) - Determine if your business is located in an enterprise zone
Additional Tax Credits:
Businesses located within the South Metro Enterprise Zone are eligible for State of Colorado income tax credits in the following areas:
- Investment Tax Credit - 3 percent tax credit for equipment purchases
- New Jobs Credit - $1,100 tax credit per qualifying new job
- Health Insurance Credit - $1,000 tax credit per insured job; available for the first two years
- Job Training - 12 percent tax credit for eligible training costs
- Research and Development Credit - Up to a 3 percent tax credit for qualified R&D expenditures
- Vacant Building Rehabilitation Credit - 25% credit for rehabilitating a vacant building for commercial use
- Manufacturing Sales and Use Tax - Expanded sales and use tax exemption
- Commercial Vehicle Income Tax - Up to 1.5 tax credit on commercial trucks, truck tractors, tractor, or semi-tractors, including associated parts
Filing for Tax Credits:
Pre-Certification: Businesses wanting to claim any of the Colorado Enterprise Zone (EZ) income tax credits are required to annually file a Pre-Certification for activities occurring in the tax year that will earn an Enterprise Zone Tax Credit. Pre-Certification must be filed before expenses are incurred.
Certification for Tax Credits: A business having pre-certified, and then conducted activities that are eligible for EZ credits, must then complete a certification application and receive approval from the Enterprise Zone Administrator. Certification documents must be submitted with your Colorado income tax filing.
To file for Pre-Certification and Certification, please visit Colorado Office of Economic Development (outside link).
More Information:South Metro Enterprise Zone: Call 303-762-2347 or E-mail Economic Development.
Technical Assistance with EZ Filing: Email Leasa Schwaebe at Colorado Department of Revenue