Pikes Peak EZ Business Relief Fund

Contributions to the “Pikes Peak Enterprise Zone (EZ) Business Relief Fund” will provide grant assistance to small businesses in the Pikes Peak EZ impacted by COVID-19. Donors will also receive an Enterprise Zone state income tax credit equal to 25% of their contribution.

The application window for the Pikes Peak EZ Business Relief Fund is now closed. We are currently reviewing and evaluating all EZ small business applications that have been submitted; selected grant recipients will receive award notification in May 2020.

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

Learn more about the Pikes Peak EZ Business Relief Fund program, and contribute to the Relief Fund:

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

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, and no credits are allowed for contributions that directly benefit the contributor.

Pikes Peak Enterprise Zone Economic Development Goals:

  • Support business opportunities – and increase the number of out-of-area visitors to EZ contribution projects – 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.

Important Note: Due to the current COVID-19 crisis and the associated State budget issues, many of Colorado Office of Economic Development and International Trade’s (OEDIT) programs are being scaled back or suspended, including the Enterprise Zone (EZ) Program.

During the May 21st Colorado Economic Development Commission (EDC) meeting, OEDIT’s Executive Director, Betsy Markey, stated that to ensure the best use of state funds, OEDIT will place a hold on expansion of the EZ Program at this time. No new EZ Contribution projects will be approved nor will new EZ boundaries areas be added until the legislative session has concluded and the budget situation is better understood – this may be July 2020, at the earliest. The State’s budget is expected to severely contract, and all departments are currently working to find savings; expanding the EZ program at this time would work counter to that objective.

Please know that when our office receives an update and further guidance from OEDIT regarding expansion of the EZ, we’ll be sure to provide an EZ Program update on this page. In the meantime, our office will not be accepting any new EZ Contribution Project proposals until July 1, 2020.

Approved EZ Contribution Projects:

Contact us:

Sara Lobato
Economic Development Senior Analyst
Pikes Peak Enterprise Zone Administrator
9 E. Vermijo Ave.
Colorado Springs, CO 80903
Phone: 719-520-6480