Annual Report for Jump-Start Businesses
Businesses participating in the Rural Jump-Start Program must fill out the annual report in order to receive their tax credit certificates. The annual report is now available. The annual report requires all businesses to submit a list of employees, so that tax credit certificates can be created for employees who are eligible for program benefits. Use this template to submit the list of employees.
Rural Jump-Start businesses that are organized as a pass-through (non-taxable) entity must also submit a list of owners as a part of their annual report, so that tax credit certificates can be created for owners. Use this template to submit the list of owners.
About the Program
The Rural Jump-Start Zone program provides specific tax relief to New Businesses and New Hires of these businesses that are located in certain economically distressed areas of rural Colorado and align with local or regional state higher education institutions in order to promote economic development in these areas. This program is based on Senate Bill 15-282, and codified under Colorado Revised Statutes 39-30.5-101. This program is administered by the Colorado Office of Economic Development and International Trade (OEDIT) and the Colorado Economic Development Commission (EDC), in conjunction with other government entities.
The Rural Jump-Start program is currently reviewing an application from a company that designs and manufactures a mobile communications tower. This tower is self-standing, self-supporting, and rapidly deployable, and provide wireless internet and phone service. The Rural Jump-Start program specifies that an applicant company cannot be directly competing with the core function of an existing Colorado company. If you believe that this company would compete with the core function of an existing Colorado company, please contact Ken Jensen at 303.892.3743 or firstname.lastname@example.org.
The Rural Jump-Start program is currently reviewing an application from a company that has developed a low emission, environmentally friendly way to process waste from the oil and gas industry. The Rural Jump-Start program specifies that an applicant company cannot be directly competing with the core function of an existing Colorado company. If you believe that this company would compete with the core function of an existing Colorado company, please contact Ken Jensen at 303.892.3743 or email@example.com.
The Application Process
Counties Eligible to Apply for the Rural Jump-Start Program:
Alamosa, Archuleta, Baca, Bent, Chaffee, Cheyenne, Clear Creek, Conejos, Costilla, Crowley, Custer, Delta, Dolores, Fremont, Garfield, Grand, Gunnison, Hinsdale, Huerfano, Jackson, Kiowa, Kit Carson, Lake, Las Animas, Lincoln, Logan, Mesa, Mineral, Moffat, Montezuma, Montrose, Morgan, Otero, Ouray, Park, Phillips, Prowers, Pueblo, Rio Blanco, Rio Grande, Saguache, San Juan, San Miguel, Sedgwick, Washington, Yuma
Rural Jump-Start Program Overview
The Rural Jump-Start Zone program (based on Senate Bill 15-282) is a tax relief program for new businesses and new hires who locate into certain designated areas called Jump-Start zones. The program offers the following benefits:
This program is jointly administered by OEDIT, the Colorado Economic Development Commission (EDC) and the Colorado Department of Revenue.
Definition of Rural Jump-Start Zone
A Rural Jump-Start Zone must be located in a county with a population of less than 250,000 people that has been designated as economically distressed by the EDC.
This program is a joint effort between institutes of higher education, counties, municipalities, businesses and employees.
Institutes of Higher Education
The institutes of higher education (IHE’s) are the two and four year public colleges in Colorado, as well as certain specialty schools. The IHE’s play a key role in this program, as every business that applies to the program must apply through an IHE and be endorsed by that IHE. The IHE’s have are associated with specific counties, so not every IHE can work in every zone.
In order to participate in this program, a county must be designated as economically distressed by the EDC. Having been so designated, the county must pass a resolution to offer tax relief.
In order to participate in this program, a municipality must first be located in a county that has passed a resolution to participate. Furthermore, the municipality must pass a resolution to participate as well. No municipality can be forced to participate in the program, and a municipality is not enrolled in the program simple because its county is.
A business that wishes to participate in this program must be a new business that is locating into the Jump-Start zone. Furthermore, the business must apply to the IHE and be endorsed by the IHE.
Employees who wish to participate in the program must be working for a business that has been approved by the EDC.
In order to ensure that there is no ambiguity concerning the rules of this program, we are asking all our partners and the various agencies they work with to make sure that information released about the program is up-to-date and accurate. To ensure that this happens, we are asking that any written correspondence (e-mail, website or printed material) about the program to potential beneficiaries include the following text:
All applications for participation in Rural Jump-Start will be submitted via a formal online process, reviewed by the Colorado Office of Economic Development and International Trade (OEDIT), and will require approval by the Colorado Economic Development Commission (EDC). Final rules for the program and the application processes for businesses, institutes of higher education, municipalities and counties are published in the program manual. Anyone wishing for information about the Rural Jump-Start program should contact Ken Jensen at OEDIT at 303-892-3743.