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DURANGO – The Colorado Office of Economic Development recently announced recipients of the Community Revitalization Tax Credit to support projects that provide housing, childcare, retail or other community spaces.
“The Powerhouse is an important pillar of the community in Durango, and this tax credit will make improvements that all Southwestern Coloradans can benefit from,” said Rep. Katie Stewart, D-Durango. “From child care to live music and weekly trivia, the Powerhouse provides a broad range of community services and activities. With the help of this tax credit, we can open up even more child care services and drive new investments that will benefit our community and create jobs.”
The Powerhouse in Durango was awarded $1,080,000 in tax credits to make improvements to the museum, including:
Renovating the child care center to meet statewide standards and build an outdoor playground,
Developing a community gathering place and outdoor performance venue on the property.
Adding indoor restrooms, multi-purpose meeting rooms and a storage space to the entryway in the museum, and
Restoring the historic facade.
The Community Revitalization Tax Credit (CRTC) was established by a 2024 law to create jobs and support local economies. Eligible projects can receive up to $3 million in tax credits. The tax credit will provide up to $50 million total, allowing up to $10 million a year in available tax credits for tax years 2025-2029.
Learn more about the Community Revitalization Tax Credit here.