(April 26) – Rep. Daneya Esgar’s bill to promote major business investments in Colorado, with a potentially huge impact on jobs and economic development in Pueblo, passed its first committee unanimously this afternoon.
HB17-1356, sponsored by Rep. Esgar, D-Pueblo, with Speaker Crisanta Duran, D-Denver, would grant increased access to tax credits by large employers willing to invest at least $100 million in Colorado. Such companies could apply for pre-certification for the state’s job creation tax credit or one of its enterprise zone tax credits.
One of the businesses that stand to benefit from the bill is Evraz, owner of the Pueblo steel mill. Evraz is considering making a massive investment to expand its Colorado operation, keeping existing jobs and attracting new jobs to Southern Colorado.
“The Pueblo steel mill is the heart and soul of my city,” Rep. Esgar said. “My grandfathers worked at the mill. I have friends and family who work there now. The success of this mill is vital to my community.”
The bill passed the Finance Committee on a vote of 12-0 and is headed to the House Appropriations Committee.