08.27.15 |
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Colorado Redesignates Enterprise Zones

At its August meeting, the Colorado Economic Development Commission (CEDC) approved zone redesignations for 14 of Colorado’s 16 Enterprise

Grunge state of Colorado flag map

Zones, marking the first changes to zone boundaries since the zones were first designated in 1996.1 The CEDC also tabled a recommendation to redesignate two Enterprise Zones until its next meeting in September.

The redesignated zones are as follows:

  • Central and Southern EZ
  • Jefferson County EZ
  • Larimer County EZ
  • Mesa County EZ
  • North Metro EZ
  • North-East-Central EZ
  • Northwest EZ
  • Pikes Peak EZ
  • Pueblo EZ
  • Region 10 EZ
  • South Metro EZ
  • Southeast Central EZ
  • Southwest EZ
  • Weld County EZ

All of the redesignated zones will have boundaries which differ from their previously designated boundaries.  Changes will include added areas (areas now meeting the criteria for zone inclusion) and areas which have “graduated out” of the zone.

The enterprise zones with the largest territorial increases include Larimer County, Mesa County, Pueblo and Weld County.

The two zones where redesignations have been tabled for further review are the Denver Enterprise Zone and the Adams County Enterprise Zone.  The proposed Denver Zone would now include the Denver International Airport area.  Redesignation of these zones are expected to be addressed at the CEDC’s September meeting.

The redesignation vote is the culmination of a three-year process, which began with the passage of legislation in 2013 requiring zones to be evaluated by the Colorado Office of Economic Development and International Trade (OEDIT).2  The OEDIT began its evaluation process of existing zones in 2014 and made recommendations of new zone boundaries to the CEDC in early August.

An interactive map showing the new zone boundaries, including added areas and graduated areas, can be found on OEDIT’s website.

The redesignated zones are expected to be in effect on January 1, 2016.3 The OEDIT is now required by statute to re-evaluate the zones as currently designated every ten years.4

 
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1, 3Redesignation of Enterprise Zones – Colorado Office of Economic Development and International Trade

2Concerning Reforms to the “Urban and Rural Enterprise Zone Act”, and in Connection Therewith, Making an Appropriation – Section 3, 39-30-103(2)(a).

4Concerning Reforms to the “Urban and Rural Enterprise Zone Act”, and in Connection Therewith, Making an Appropriation – Section 3 39-30-103(2)(c).

 

The information provided in this blog post is for informational purposes only and not for the purpose of providing accounting, legal, or tax advice.  The information and services ADP provides should not be deemed a substitute for the advice of any such professional.  Such information is by nature subject to revision and may not be the most current information available.

 


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