A new video touts Grand Junction as a place for opportunities — along with federal tax incentives for investments in development.
The video, produced by the Grand Junction Economic Partnership in collaboration with the Colorado Office of Economic Development and International Trade, showcases the Riverfront at Las Colonias business park and the potential for additional development in seven federally designated Opportunity Zones in Mesa County.
“Our community has experienced tremendous momentum over the past few years, and many of the new investments we’re seeing are from the Opportunity Zone perspective. These designated Opportunity Zones provide a unique chance for visionary businesses to thrive and flourish,” said Curtis Englehart, executive director of the Grand Junction Economic Partnership.
“This video really tells the story of who we are as a community and highlights many of our shared values. We are thankful for the support of OEDIT and the opportunity to produce this asset that will be utilized as a focal point within our marketing efforts,” Englehart said.
Jack Tiebout, senior program manager at the Colorado Office of Economic Development and International Trade, said he was excited to see the Grand Junction area celebrated in the video.
“The Opportunity Zone incentive has driven over a billion dollars of needed investment into work force housing, outdoor recreation and businesses across Colorado. We have seen all three investment types in Grand Junction, which has exemplified best practices by identifying Opportunity Zone projects and businesses and working directly with investors to multiply investments in businesses and create new housing,” Tiebout said. “This video continues the great work we’ve seen in Grand Junction since the program began in 2018.”
Titled “Opportunity Awaits in Grand Junction,” the video features such local businesses and stakeholders as Bonsai Design, Camp Eddy, the City of Grand Junction and Colorado Mesa University. The video also details development in the region and areas of opportunity for additional investment and development.
Seven Opportunity Zones are located in Mesa County, including zones near downtown Grand Junction as well as zones near Powderhorn Mountain Resort and the Grand Mesa east of Grand Junction.
The Riverfront at Las Colonias south of downtown offers 140 acres for mixed-used and includes a 15-acre business park. The property is already home to six businesses and the development of 322 housing units. Nearby amenities include an amphitheater, botanical garden and river park. Bonsai Design is scheduled to open a zip line this summer.
The Opportunity Zone program offers federal tax incentives for investments in what are deemed historically low-income communities. Investors can defer tax on any prior eligible gain to the extent a corresponding amount is invested in a Qualified Opportunity Fund (QOF).
The program is scheduled to end in 2026. The last day investors can realize a capital gain that can be put into a QOF is Dec. 31, 2026. But investors can hold an Opportunity Zone investment until 2046 to realize its full benefits. That includes the elimination of capital gains tax on the appreciation of Opportunity Zone investments.
To watch the video and learn more about Opportunity Zone investments in Mesa County, visit www.gjep.org/opportunity. For more information about services and resources from the
Grand Junction Economic Partnership log on to www.gjep.org.