Local businesses may lose their tax credit

By: Ashley Prchal Email
By: Ashley Prchal Email

The Business Incubator held a meeting Monday to discuss the benefits of the current Mesa County enterprise zones.

Enterprise zones are areas in Colorado where business owners can receive tax credits for setting up shop. The tax credits are an initiative to make money in areas traditionally have not been profitable.

But the tax credits businesses are receiving may be taken away in the near future because of budget cuts. The Business Incubator held a seminar to discuss the current program and its possible future.

"There are a number of folks at the capitol now that are realizing we have some state budget issues and tax credits are potential sources for showing new revenue," says Kevin Tilson, enterprise program manager.

The state has used the program to stimulate the economy for Colorado, but the tax credits might prove to be too costly.

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