Three more companies have been approved to take advantage of a program offering tax incentives.
The Colorado Economic Development Commission approved the addition of Phoenix Haus, Pierce Corp. and Rocky Mountain Manufacturing to the Rural Jump-Start Program in Mesa County.
“Jump-Start continues to be an invaluable tool for our business recruitment efforts,” said Robin Brown, the executive director of the Grand Junction Economic Partnership.
“The program allows us to attract and retain companies in advanced industries that help grow primary job opportunities in the Grand Valley. It also helps our region compete with other, more recognized innovation hubs.”
Phoenix Haus moved from Detroit to Grand Junction in October. The firm designs open-sourced, carbon-free house templates and is in the process of hiring its fourth local employee.
Pierce Corp. moved operations from Idaho and Oregon to take advantage of the milder climate in the Grand Valley. The company manufactures irrigation systems.
A local startup, Rocky Mountain Manufacturing builds a new, patented prosthetic device.
The addition of the three companies brings to 11 the firms participating in the Rural Jump-Start Program in Mesa County. GJEP projects the companies will bring a total of more than 650 new jobs to Mesa County over the next five years, each job paying more than the average annual salary of almost $41,000.
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. Their employees also are exempt from paying state income taxes. In Mesa County, the businesses also are exempt from paying county and municipal personal property taxes.
The companies also agree to form partnerships with Colorado Mesa University based in Grand Junction through mentorships, internship opportunities and community involvement.