Jump-starting Rural Businesses and Economies
Idea Category: Jobs and Entrepreneurship
Problem
Economic recovery and prosperity in Colorado is too often concentrated in the metro areas of the state. In Colorado, the pandemic hit rural Colorado particularly hard and for many rural communities, the economic recovery has been much slower than the recovery in other parts of the state. As we build back from this pandemic, we need to invest in programs that will ensure all parts of our state, particularly our many rural communities, have the tools they need to attract new businesses, create good-paying jobs, and diversify their economy. Building back better needs to mean better for all parts of our state, not just the big cities and suburbs. This is not a problem confined solely to Colorado as most states also have a division between the more metro areas and the rural parts of their state.
Solution
States should invest in the Rural Jump-Start Small Businesses Tax Credit and Incentive Program.
The Rural Jump-Start Program helps economically distressed communities attract new businesses and jobs. Counties, municipalities, and higher education institutions work together to apply for this program.
When a community is a designated rural jump-start zone, new businesses can receive incentive payments and tax relief including credits, exemptions, and refunds from:
state income tax, state sales and use tax, county and municipal personal property taxes.
Employees of new businesses receive a grant for starting a new business and a tax credit for 100% of state income taxes on their wages for work in the rural jump-start zone.
More Idea’s From Dylan Roberts
Innovative State Financing for Affordable Homeownership Development
Idea Category: 2025 Ideas Challenge, Building & Development | Funding Source: ARP
Colorado State Senator Dylan Roberts Expands Clean Energy Definition to Include Nuclear Power
Idea Category: Clean Energy | Funding Source: ARP
Colorado Senator Dylan Roberts’s Legislation to Support the Development of Affordable Housing Signed Into Law
Idea Category: Housing | Funding Source: ARP
Colorado Senator Dylan Roberts’s Bill Expanding Care for Seniors Was Signed Into Law
Idea Category: Senior Care | Funding Source: ARP
Colorado Senator Dylan Roberts’ Equal Justice Fund Authority Bill, was Signed Into Law, Adding Roughly $2M in Funding for Free Legal Services to Low-Income Coloradans
Idea Category: Criminal Justice | Funding Source: ARP
Colorado Senator Dylan Roberts and Representative Meghan Lukens Sponsored Bills to Provide Tax Credits for Passenger Rail and Small Businesses in Rural Colorado
Idea Category: Rural Development, Small Business, Transportation | Funding Source: ARP
Colorado Senator Dylan Roberts Guided Ten Water-Related Bills to Governor’s Desk
Idea Category: Conservation, Environment, Water | Funding Source: ARP
Senator Dylan Roberts Highlighted Colorado Water Conservation Victories
Idea Category: Environment, Indigenous Rights | Funding Source: ARP
Phoenix Mayor Kate Gallego Announces the Launch of a New Startup Accelerator
Phoenix Mayor Kate Gallego joined with area business leaders to announce the launch of a...
Exempting Overtime Pay from State Income Taxes
2023 Ideas Challenge Entry Alabama Representative Anthony Daniels is leading the way to enhance workforce...