Three companies are expected to bring jobs and economic development to Mesa County as participants in a new program offering tax incentives.
Colorado Clean, ProStar Geocorp and TSW Analytical have been approved to participate in the Rural Jump-Start Program. Mesa County was the first county in Colorado selected to join in the new state program.
“We’re excited for Mesa County to welcome the inaugural batch of companies into the Rural Jump-Start Program,” said Kristi Pollard, executive director of the Grand Junction Economic Partnership. “The program will bring a real competitive edge to our county and enhance Colorado’s overall profile as a hub for entrepreneurship and high-tech industry.”
Based in Palisade, Colorado Clean manufactures and distributes products made with a patented material that’s biodegradable. ProStar Geocorp based in Grand Junction has developed software and services that help the pipeline and utilities industries locate and manage infrastructure. TSW Analytical, a forensics investigation and technology development company based in Australia, will expand to Mesa County.
“Over the past several months, we have had the opportunity to work with Colorado Clean, Prostar Geocorp and TSW Analytical, guiding them through the Jump-Start process,” Pollard said. “We are thrilled that the (Colorado) Economic Development Commission approved their participation today and applaud this initiative to stimulate job growth and advance economic development in Mesa County.”
Tim Foster, president of Colorado Mesa University, said the Rural Jump Start Program will promote partnerships between businesses and CMU. To participate in the program, businesses are required to establish a relationship with an institution of higher learning — CMU in Mesa County.
“Jump-Start will provide our students with unparalleled access to business entrepreneurs in high-tech industries while creating future job opportunities for our graduates and jolting our local economy,” Foster said. “In return, these companies will benefit from the high level of professional and technical talent and applied research capabilities at CMU.”
The Rural Jump-Start Program creates zones in which approved businesses are exempted from paying state and local taxes. To participate, the core functions of businesses may not compete with existing operations. Businesses must create a minimum of five net new jobs in the county in which they’re located.
Qualifying businesses are exempt from paying state income, use and sales taxes as well as county and municipal personal property taxes. Their employees also are exempt from paying state income taxes.
Mesa County as well as the cities of Grand Junction and Fruita and town of Palisade all passed resolutions to join in the Jump-Start program and offer additional incentives.
Businesses that apply to receive exemptions under the program will be evaluated initially to determine eligibility and then evaluated annually to ensure ongoing compliance. Businesses may receive tax exemptions for up to four years with an option for an additional four years.
For more information about the Rural Jump-Start Zone program in Mesa County, call 245-4332 or log on to www.jumpstartmesaco.com.