Enterprise Zone Redesignation

Summary:

The Colorado Office of Economic Development & International Trade (OEDIT) is embarking on a two-year process to redesignate the Enterprise Zone areas associated with the Enterprise Zone Program. Per the Enterprise Zone statute, OEDIT and the Colorado Economic Development Commission are required to review the enterprise zone designations no less frequently than once every ten years to ensure that the zones continue to meet at least one of the following enterprise zone eligibility criteria:

  1. An Unemployment rate at least 25% above the state average for the most recent period of twelve consecutive months for which data is available from the United States Census Bureau or the Department of Local Affairs;
  2. A population growth rate less than 25% of the state average rate for the most recent five-year period for which data are available from the United States Census Bureau or the Department of Local Affairs; or, if such data is not available for any five-year period, for the most recent period of not less than five nor more than ten years for which such data is available;
  3. A per capita income less than 75% of the state average for the most recent period for which data is available from the United States Census Bureau or the Department of Local Affairs;
  4. SB24-190 allows an area that is both rural and a Tier One Coal Transition Community to automatically qualify as an Enterprise Zone.

Additionally, the population cap for an Enterprise Zone is 115,000 in urban areas, such as the Pikes Peak EZ, and 150,000 in rural areas.

OEDIT’s Enterprise Zone Redesignation Tool & Request for Input:

OEDIT’s Enterprise Zone Designation Tool displays Census Geographies (counties, county subdivisions, tracts, block groups, and census designated places) in Colorado that are eligible for consideration in the 2024/2025 Enterprise Zone Redesignation Process based on American Community Survey data provided in accordance with the eligibility criteria outlined above. These geographies are not guaranteed to be included in an Enterprise Zone as a result of the redesignation process; rather, the Tool is meant to help identify areas that qualify.

The Tool also includes a form that allows the public to provide input on the 2024/2025 Enterprise Zone Redesignation Process. Specifically, OEDIT requests your insight into which areas should – or should not – be included in an Enterprise Zone and why. Your input will be shared with the local Enterprise Zone Administrator that manages your respective Enterprise Zone for their consideration before they officially apply to redesignate your Zone.

For assistance navigating the Tool, please review OEDIT’s 2024/2025 Enterprise Zone Redesignation Tool Help Guide.

OEDIT’s Tentative Redesignation Timeline:

OEDIT will provide a more specific timeline as dates are decided upon:

  • August 2024 – Spring 2025: The public may provide feedback on areas to include — or not include — in an Enterprise Zone via the Redesignation Tool Input Form (review OEDIT’s 2024/2025 Enterprise Zone Redesignation Tool Help Guide to follow the steps and access the form)
  • Spring 2025: Enterprise Zone Administrators’ applications for new Zone designations are due to OEDIT
  • Spring – Fall 2025: OEDIT & the Colorado Economic Development Commission review and ultimately approve new Enterprise Zone designations
  • January 1, 2026: New Enterprise Zone designations and boundaries are effective

Contact Us

Sara Lobato
Economic Development Analyst
9 E. Vermijo Ave.
Colorado Springs, CO 80903
719-520-6480
saralobato@elpasoco.com