October 07, 2019
The Montezuma Food Coalition ShareHouse, the Rico Town Hall, Good Food Collective were approved as Enterprise Zone Contribution Projects by the State Economic Development Commission (EDC), October 17th. The Fort Lewis College Foundation and SW Memorial Hospital Foundation were also renewed as contribution projects for five years during the meeting. This designation allows donors of $250 or more to be eligible for a 25% state tax credit, and a 12.5% state tax credit on in-kind donations.
The Montezuma Food Coalition ShareHouse’s EZ project will help secure a facility in Downtown Cortez providing a commercial kitchen to create value-added products for farmers. The Rico Town Hall EZ project is to renovate the 1892 building with a new roof, masonry work, new boiler, and remove asbestos. The Good Food Collective project will create a shared infrastructure for smaller farms assisting with value-added products, brand recognition, and provides a roving workforce to help harvest.
The renewal of the Fort Lewis College Foundation’s infrastructure project will help fundraising for a new Health and Sciences building, renovating Berndt Hall and Sky Hall, and covering the football field with synthetic turf. The SW Memorial Hospital Foundation’ community facilities project will help provide a new HVAC system and priority equipment needs.
In 1986, the Colorado State Legislature approved the Enterprise Zone Tax Credit program to assist economically distressed areas of the state. In Southwest Colorado, all of Montezuma, San Juan, and Dolores Counties are enterprise zone areas. Parts of La Plata & Archuleta Counties are also included.
Currently 32 projects are designated in Southwest Colorado. A list of eligible Enterprise Zone projects and program information is available online at www.scan.org or by calling the Region 9 Economic Development District at 970-247-9621.
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