2020 CARES Act COVID-19 Programming & Economic Impact

In response to the economic disruption of the COVID-19 pandemic in 2020, El Paso County’s Economic Development used federal CARES Act funding to develop and implement the following programs to assist our community’s businesses and nonprofits in their economic recovery:

  1. El Paso County Regional Business Relief Fund
  2. 501(c)(4) & 501(c)(6) COVID-19 Relief Fund
  3. Pikes Peak Enterprise Zone Business Relief Fund

El Paso County Regional Business Relief Fund (Round One)

In October, El Paso County’s Regional Business Relief Fund supported 864 different small businesses and nonprofits with grants up to $20,000 to assist with business operational costs incurred due to the COVID-19 economic disruption. El Paso County distributed $13,858,528 in grant funding with an average grant amount of $16,040 per organization assisted. 56% of these organizations self-identified as women, minority, or veteran-owned small businesses and nonprofits.

The assistance could aid in saving up to 11,735 direct jobs and 16,789 total jobs in El Paso County while protecting $1,144,295,303 in local economic output. These levels of employment would save up to $12,849,676 in sales taxes generated through household expenditures to support local governments.

View the Economic Impact Report of the Regional Business Relief Fund, conducted by Summit Economics, here.

The El Paso County Regional Business Relief Fund is closed.

Press Releases:

Summit Economics Report: El Paso County’s RBRF Saves Jobs And $1.1 Billion in Economic Output

Regional Business Relief Fund Grants Announced

Maps Denoting Grant Recipients:

El Paso County Map

City of Colorado Springs Map

501(c)(4) & 501(c)(6) COVID-19 Relief Fund:

The CARES Act established the Coronavirus Relief Fund and appropriated funding to the fund for State and Local Government Relief. El Paso County received a direct allocation of federal funds from the CARES Act Relief Fund. El Paso County recognized that its economic development partner organizations also realized increased expenditures due to COVID-19 and chose to open a competitive application process for 501(c)(6) Chambers of Commerce and Business League organizations, or any non-lobbying 501(c)(4) with an economic development driven mission, as defined by IRS Publication 557, to assist them with their response and expenses related to COVID-19.

The application window for the Grant Assistance for 501(c)(6) Chambers of Commerce and Business League Organizations, or any Non-lobbying 501(c)(4) with an Economic Development Driven Mission is closed. The following selected grant recipients received awards to assist with: fixed debts, employee payroll, marketing and education, and innovative programming in response to COVID-19.

  • Colorado Springs Chamber & EDC
  • Colorado Springs Housing and Building Association
  • Downtown Partnership of Colorado Springs
  • Manitou Springs Chamber of Commerce, Visitors Bureau and Office of Economic Development
  • Pikes Peak Region Attractions Association
  • Southern Colorado Women’s Chamber of Commerce
  • The Concilio Hispana de Empresas de Colorado Springs doing business as The Colorado Springs Hispanic Business Council – The Hispanic Chamber
  • Tri-Lakes Chamber of Commerce, Economic Development Corp and Visitors Center
  • Visit Colorado Springs

Pikes Peak Enterprise Zone Business Relief Fund:

Contributions to the “Pikes Peak Enterprise Zone (EZ) Business Relief Fund” – in addition to El Paso County CARES Act Funding – helped provide grant assistance of up to $7,500 to 128 for-profit small businesses in the Pikes Peak EZ that have been impacted by COVID-19. Donors also received an Enterprise Zone state income tax credit equal to 25% of their contribution. The Pikes Peak EZ Business Relief Fund aided businesses located in the EZ the following types of assistance: rent or mortgage assistance, utility payments, employee payroll, accounts payable and other bills, and for payment of fixed debts.

The application window for the Pikes Peak EZ Business Relief Fund is closed. Selected grant recipients received an award notification in May 2020, and grant funds were disbursed to selected grant recipients in June 2020.

For any additional questions, please contact the Pikes Peak EZ Administrator, Sara Lobato, at saralobato@elpasoco.com.

Press Releases:

Map of businesses who received funding:

Summit Economics: Economic Impact Report:

Crystal LaTier
Economic Development Executive Director
9 E. Vermijo Ave.
Colorado Springs, CO 80903
Phone: 719-520-6484

Kayla Huthoefer Nelson
Economic Development Project Manager
9 E. Vermijo Ave.
Colorado Springs, CO 80903
Phone: 719-520-6448