MEDC Incentive Policy
MEDC Policy: Incentives
MEDC will assist primary employers who would like to relocate or expand in Montrose County who can demonstrate a positive economic impact to the Montrose County communities. MEDC will collaborate with our economic development partners to create an incentive package of incentives that may be provided by; MEDC, State of Colorado Office of Economic Development and International Trade, Region 10, cities of Montrose, Olathe, Nucla or Naturita and Montrose County.
Incentives are used as stimulators, and are not entitlements.
- Approval is on a case-by-case analysis, and therefore "discretionary", rather than "by right".
Criteria includes but not limited to:
- A minimum of 5 (five) new jobs must be created.
- Diversification of local economic base.
- Compliance with City and County strategic plans.
- Average wages paid need to be higher than the County average as determined by the Colorado Department of Labor.
|Montrose County Annual Average Wage: $46,303 (Source: OEDIT 2023 AAW Reference)|
|130% or >||$6,500||$60,198|
- The businesses is encouraged to provide group health insurance for each worker.
- The normal work year (overtime excluded) consists of 2,080 hours or twelve months for salaried positions.
- Wages paid below County average will be considered on a case-by-case basis.
- Separate consideration given to start-up companies
- Desired Goal: At least 50% of new jobs created should be filled by local Montrose County residents.
- The allowance calculation is determined over the first 5 (five) years of normal operations.
- Businesses that make capital investments, create new jobs, rehabilitate old buildings, contribute to economic development plans, and do research and development in the Montrose County Enterprise Zone may be eligible to receive certain tax credits from the State. To be eligible, a company must have a tax liability with the State. Tax credits may be carried forward for 12 years.
- Legislation allows cities and counties to negotiate corporate property tax rebates. MEDC may assist new and existing manufacturing, research and engineering, processing, and wholesale/distribution businesses in making application for a Property Tax Rebate to all participating local governmental bodies.
- MEDC may assist new and existing manufacturing, research and engineering, processing, and wholesale/distribution businesses in applying for Small Business Administration (SBA), Colorado Housing and Finance Authority (CHFA), and Region 10 loans as requested by the business.
MEDC may evaluate the total economic impact to Montrose County which includes capital investment, job growth, and wage levels to determine incentive proposals.