Colorado’s Economic Development Commission has approved incorporating Midtown Durango into the Southwest Enterprise Zone’s eligible boundaries. An informational meeting will be held from 11 a.m. to noon July 20 and will cover information about the boundaries, detailed maps, a tax credit overview and reviewing the online pre-certification to get started. Contact Region 9 to receive the Zoom link: region9edd.org.
An Enterprise Zone area is a geographic area that meets distress criteria defined in Colorado Statute, which includes unemployment rates, per capital income and population growth rates as compared to the state average. Designated Enterprise Zones are meant to encourage investment and assist businesses in these distressed areas, which means any business located in the new or existing designated Enterprise Zone area are eligible for a variety of State tax credits. Credits are earned by investments in equipment, job creation, training and rehabilitating vacant buildings, among others.
The proposed addition covers the same boundary as the city of Durango’s Midtown Urban Renewal Plan approved in 2021. The Midtown area borders the Animas River and Historic Downtown Durango but is bisected by U.S. Highway 550/Camino del Rio. For more information, contact Terry Blair-Burton, SW Enterprise Zone administrator, at terry@region9edd.org, 247-9621, or visit region9edd.org.
