What is the Enterprise Zone in Mead, Colorado?
Are you curious about the resources available for businesses looking to start, grow, or expand in Mead? The Town of Mead offers several programs to encourage development and support local businesses. One of these initiatives is the Enterprise Zone (EZ). So, what exactly is the Enterprise Zone, and how can it benefit your business?
The Colorado legislature created the Enterprise Zone (EZ) Program to stimulate economic growth in designated areas by providing state income tax credits and sales and use tax exemptions for specific business investments. These incentives encourage businesses to locate or expand in economically distressed areas across the state. An area qualifies as distressed if it meets at least one of the following criteria*:
A 5-year population growth rate below 25% of the state average
An unemployment rate that is 125% or higher than the state average
A per capita income below 75% of the state average
*Based on data from the U.S. Census Bureau’s American Community Survey (ACS) and/or the Colorado Department of Local Affairs (DOLA)
Where is Mead’s Enterprise Zone?
In Mead, the Enterprise Zone primarily covers the old town area, extending west of 3rd Street to County Road 5 ½ and mostly north of Welker Avenue up to County Road 34 ½. For precise boundaries, please refer to our detailed map above.
Businesses that choose to locate or expand within the EZ boundaries can benefit from various state income tax credits and sales and use tax exemptions. To explore the full range of available tax credits and incentives, visit the Colorado Office of Economic Development.
How does the Enterprise Zone benefit local businesses?
Operating within the Enterprise Zone offers significant advantages to businesses. Beyond tax credits and exemptions, businesses in the EZ contribute to and benefit from job growth, investment in job training, research and development activities, and the revitalization of vacant buildings. These efforts not only enhance your business but also contribute to the overall economic vitality of our community.
To learn more about the Colorado Enterprise Zone Program, including how to qualify for and claim these benefits, visit the Colorado Office of Economic Development. The Town of Mead is also here to answer any questions and is eager to collaborate with local businesses to help them succeed.