PARKER’S
ENTERPRISE ZONE
Incentives May be Available for Business in Parker’s Enterprise Zone
Parker’s Enterprise Zone is part of the Colorado Enterprise Zone (EZ) Program which encourages business investment and job creation in designated areas of the state. Businesses operating in an EZ can earn state tax credits that reduce the cost of hiring, expanding, and investing in equipment or property.
Who Qualifies?
Businesses expanding or relocating within the Enterprise Zone boundaries
Must apply for pre-certification before expanding or relocation
THE PARKER
ENTERPRISE ZONE MAP
Benefits
Enterprise zones are designed to encourage investment and new business activity in identified areas that could use additional support. Businesses who expand or relocate to an enterprise zone can qualify for benefits through tax credits which can do the following:
Reduce state income tax
Lower the cost of equipment or facility improvements
Offset expenses for training or hiring employees
Support redevelopment of older or underused commercial buildings
Key Incentives Available
Investment Tax Credit
3% credit on qualified business equipment purchases placed into service in the zone.
New Employee Credit
$1,100 credit per net new full-time employee hired during the tax year.
Job Training Credit
12% credit on eligible employee training expenses.
Employer-Sponsored Health Insurance Credit
$1,000 credit for each new employee added to a qualifying employer-paid health plan (first two years only).
Research & Development Credit
3% credit for increases in research and development spending.
Vacant Commercial Building Rehabilitation Credit
25% credit for the cost of rehabilitating buildings that are at least 20 years old and have been vacant.
Many credits include carry-forward provisions, allowing unused credits to roll into future tax years.
How to Apply for and Utilize EZ Incentives
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Confirm the location of your business expansion or relocation is within an Enterprise Zone in Parker. Use the online Colorado Enterprise Zone map to confirm.
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Businesses and developers must complete a pre-certification form with the Colorado of Economic Development and International Trade to confirm the intent to claim credits.
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Only actions taken after pre-certification and within the same tax year can qualify for tax credits.
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At the end of your tax year, submit a final certification showing the investments or activities completed.
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Use the certified EZ documentation when filing your Colorado income tax return.
Need Assistance? We’re Here to Help.
The Parker Economic Development team can help determining eligibility, walk through the application process, and connect you with state resources.