May 23, 2018
San Juan Development Association (SJDA) has been approved as an Enterprise Zone Contribution Project by the State Economic Development Commission (EDC). This designation allows donors of $100 or more to the organization to claim a 25% state tax credit, and a 12.5% state tax credit on in-kind donations. This credit is in addition to the federal tax deduction for contributing to any 501 (c)(3).
San Juan Development Association is over 20 years-old and has always worked to improve economic conditions in San Juan County. The organization revitalized in 2016 after the Gold King Mine Spill to provide focused attention on businesses and build economic resiliency.
Being designated as an EZ project is not easy as there is a very narrow criteria for approval and, a project must show their work directly benefits the Enterprise Zone area that they serve. Currently 29 projects are designated in Southwest Colorado. Projects are approved for a five-year period.
Mel Russek the Coordinator for San Juan Development Association says that being able to incentivize investors will help sustain SJDA. “SJDA is a long-time organization, but it struggles with a lack of resources. Having EZ designation will hopefully encourage donations to sustain the organization, but more importantly provide the resources to help the community.”
A list of eligible Enterprise Zone projects and program information is available online at www.scan.org or by calling Region 9 at 970-247-9621. You can also outreach SJDA at http://www.sanjuancountycolorado.us/economic-development, call 970-769-3486 or emailing SanJuanCoordinator@scan.org.
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