The regional, Southwest Colorado Small Business Development Center (SBDC) has been approved as an Enterprise Zone Contribution Project by the Colorado Economic Development Commission (EDC). This designation allows donor contributions of $250 or more to be eligible for a 25 percent state tax credit on cash donations, and a 12.5 percent state tax credit on in-kind donations such as professional services.
The project was approved for the business assistance and economic development components in a rural area by offered by the SBDC and their business advisers.
In 1986, the Colorado State Legislature approved the Enterprise Zone Tax Credit program to assist economically distressed areas of the state. In Southwest Colorado, Montezuma, Archuleta, San Juan, and Dolores Counties are designated enterprise zone areas. La Plata County has some areas that are not considered distressed, is not included.
Currently, 32 projects are designated in Southwest Colorado. A list of eligible Enterprise Zone projects and program information is available online at www.scan.org or by calling the Region 9 Economic Development District at 970-247-9621. To reach the SBDC, please go to http://sbdcfortlewis.org/.