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State of Colorado Enterprise Zone Program: Enhanced Rural EZ Credits

The designation of Enhanced Rural Enterprise Zones (EREZ) was authorized under C.R.S 39-30-103.2 to further support economically distressed rural counties.  EREZ counties are in an Enterprise Zone and meet two of the following five criteria:
  1. County unemployment rate greater than 50% above state average.
  2. County per capita income less than 75% of state average.
  3. County population growth rate less than 25% of state average.
  4. Total non-residential assessed value ranks in lower half of all counties.
  5. County population less than 5,000.
The Enhanced Rural Enterprise Zone (EREZ) program provides greater financial incentives to businesses to promote and encourage new job creation in designated economically lagging rural Enterprise Zone counties.  Businesses that qualify for the $500 NBF Jobs Credit and are located in an EREZ, qualify for an additional $2,000 EREZ Jobs Credit.  Businesses that qualify for the $500 NBF Ag Processing Credit, qualify for the $500 NBF Jobs Credit, and are located in an EREZ qualify for the additional $500 EREZ Ag Processing Credit and qualify for the additional $2,000 EREZ Jobs Credit.  See below for the calculation and total for the two EREZ tax credits:
$500
+ $2,000
$2,500
NBF Jobs Credit
EREZ Jobs Credit
Total EREZ Job Credit
  $500
$500
$500
+ $2,000
$3,500
NBF Ag Processing Credit
EREZ Ag Processing Credit
NBF Jobs Credit
EREZ Jobs Credit
Total EREZ Ag Processing Credit

The state promulgates a revised list of eligible counties every two years.  When a county goes off the EREZ list, taxpayers who have future job creation plans in such a county may file a certification for an extension of up to five additional years to continue claiming EREZ credits on additional, planned job creation.

Alamosa, Conejos, Costilla, Mineral, Rio Grande, and Saguache counties have been designated as Enhanced Rural Enterprise Zones for 2009 and 2010.

To download the 2009 Enhanced Rural Enterprise Zone Fact Sheet click here:
Enhanced Rural Enterprise Zone Fact Sheet pdf




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