Enterprise Zone Contribution Projects
The goal of Enterprise Zone projects is to create or preserve an environment that will help attract, expand or retain employers in the Enterprise Zone. To encourage Colorado taxpayers to make contributions to non-profits that make improvements to the Pikes Peak Enterprise Zone, a State Income Tax Credit equal to 25% of monetary contributions is available.
Eligible project categories:
Capital Campaign Projects:
Community Facility
Workforce Housing
Tourist Attraction
Infrastructure
Operations Projects:
Business Assistance
Economic Development Organizations
Job Training Programs
Visitor Event/Attraction
Homeless Housing and Employment Services
The Colorado Economic Development Commission and the El Paso County Enterprise Zone Administrator have approved the following list of projects that assist in implementing the economic development goals of the Enterprise Zone. Both businesses and individuals can take advantage of the tax credit. If the donation and recipient are eligible under federal rules, the federal charitable contribution deduction can be taken. No credits are allowed for contributions that directly benefit the contributor.
Pikes Peak Enterprise Zone Economic Development Goals:
- Increase the number of contribution projects and support business opportunities that promote the region’s heritage, unique cultures, scenic beauty, wildlife, arts, sporting activities, and other tourism opportunities.
- Support and encourage increased employment opportunities by partnering with economic development focused agencies and businesses in marketing, recruitment, and training efforts, resulting in new or increased job opportunities within the EZ.
- In partnership with community stakeholders, support the revitalization of existing business districts through rehabilitation and business expansion.
- Support Workforce Housing Capital Campaigns and Homeless Housing and Employment Services Operations, promoting a variety of housing and job opportunities in the region, resulting in an increase of successful housing outcomes and job placements.