Economic Development Incentives

Local Tax Incentives

Lincoln County has an Economic Development Incentive Policy addressing incentives for the expansion of existing businesses within Lincoln County Colorado and to encourage the location of new businesses within the County, thereby stimulating the local economy by providing additional employment opportunities and expanding the tax base required to provide County services. This Policy does not commit the County to providing economic incentives in every instance, nor does it restrict the County from providing additional incentives in a specific instance. The Policy contains specific criteria, guidelines and procedures necessary to effectively and fairly administer economic development incentives.

Lincoln County Economic Development Incentive Application

The Town of Limon also has an Economic Development Incentive Policy addressing businesses existing or considering locating within the Town limits.

Colorado Rural Enterprise Zone

Lincoln County and all its towns are included in the East Central Enhanced Enterprise Zone which covers Lincoln, Elbert, Kit Carson and Cheyenne Counties. Colorado Enterprise Zone legislation provides state tax incentives to businesses located in the zone, particularly for new or expanded businesses.

Tax Credits and Information

1. 1. Investment Tax Credit
   2. New Business Facility Job Credit

For tax years beginning on or after January 1, 2003, an additional $2,000 credit for each new business facility employee plus an additional $500 per NBF employee hired in an agricultural processing business is available to businesses located in an enhanced rural enterprise zone. The enhanced portion of the new business facility employee credit not used to offset tax in the current year can be carried forward for a period of up to 7 years.

2. 1. State Sales and Use Tax Exemption for Manufacturing Equipment
   2. Research and Development Tax Credit
   3. Tax Credit for Private Contributions to Enterprise Zone Administrator, Projects, Programs or Organizations
   4. Tax Credit for the Rehabilitation of Vacant Commercial Buildings
   5. Qualified Job Training Program Investment Credit
   6. Qualified School-to-Career Investment Credit

For additional information contact:

East Central Enterprise Zone
Candace Payne
P.O. Box 28
Stratton, CO 80836
(719) 348-5562

General Information About Colorado Enterprise Zone is available from the Colorado Department of Revenue.

State of Colorado Incentives

Job Growth Incentive Tax Credit

Provides a state income tax credit to businesses undertaking job creation projects that would not occur in Colorado without this program. A business located in an Enhanced Rural Enterprise Zone has to create at least five new jobs in Colorado, with an average yearly wage of at least 110% of the county average wage.

Strategic Fund Cash Incentive

• • The Strategic Fund Cash Incentive program supports and encourages new business development, business expansions and relocations that have generated new jobs throughout the state.
  • A business must also meet the requirements below:
  • Strong level of local matching commitments ($1:$1 requested)
  • Potential for economic "spinoff" benefits, such as attracting suppliers, generating tourism/travel activity, high prestige, or a large expansion initiative
  • Capital investment, relative to the number of jobs
  • Responds to a special local economic event, such as replacing recent lay-offs
  • Inter‐state competitive factors
  • Headquarters in Colorado
  • Other unique conditions

 Other State Programs