by Heather Alvarez | January 11, 2021 10:29 am
The Mancos Town Board unanimously adopted a resolution at its December 9th board meeting which allows the town to participate in the State of Colorado’s Rural Jump-Start Program.
The program helps bring businesses that are relocating to Colorado into rural “Jump-Start” communities such as Mancos. Additionally, start-up Mancos based businesses that have a unique product or service in the region may also benefit. Eligible businesses must create at least five jobs in a given timeframe and pay above average wages.
Approved businesses can receive incentive payments and tax relief including credits, exemptions, and refunds from state income tax, state sales and use tax, and county and municipal personal property taxes. Employees of new businesses receive a tax credit for 100% of state income taxes on their wages for work in the rural jump-start zone.
The State of Colorado extended its Rural Jump-Start Program through December 31, 2025. Montezuma County and the City of Cortez are also participating. More information on this program is available at https://oedit.colorado.gov/rural-jump-start-program
Source URL: https://www.mancoscolorado.com/mancos-opts-in-to-rural-jumpstart-program-to-help-attract-new-businesses-and-jobs/
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