(May 6) – A bill sponsored by Majority Leader Crisanta Duran to help spread Colorado’s economic recovery to all four corners of the state received final legislative passage today on a 50-13 vote of the House.
Though Colorado is one of the leading states for job growth and economic recovery, some rural areas of the state are being left behind. SB15-282, sponsored by Majority Leader Duran, D-Denver, and Rep. Yeulin Willett, R-Grand Junction, encourages new businesses to locate in these distressed areas of the state.
“We know what is good for agriculture in Colorado is good for all of Colorado. What is good for the rural areas is good for all of Colorado,” Rep. Duran told the House this morning. She asked for an aye vote “to enable businesses and institutions of higher ed to come together to make sure that people have access to good-paying jobs.”
The bill defines eligibility requirements for rural “jump-start” zones and allows the state to provide tax benefits to approved new businesses that locate inside those zones and establish a relationship with a state institution of higher education or vocational school. Those businesses must be new to the state, hire at least five employees, and not directly compete with the core function of a business that is already operating anywhere else in the state.