July 06, 2015
The regional, Southwest Colorado Small Business Development Center (SBDC) has been approved as an Enterprise Zone Contribution Project by the Colorado Economic Development Commission (EDC), June 11th. This designation allows any donor contributions at $250 or more to be eligible for a 25% state tax credit on cash donations, and a 12.5% state tax credit on in-kind donations such as professional services.
The project was approved for the business assistance and economic development components in a rural area by offered by the SBDC and their business advisors.
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, Archuleta, San Juan, and Dolores Counties are designated enterprise zone areas. La Plata County has some areas that are not considered distressed, and thus not 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. To reach the SBDC, please go to http://sbdcfortlewis.org/.
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