The Colorado Economic Development Commission approved a new North Metro Enterprise Zone today, giving Longmont Enterprise Zone designation in qualifying strategic portions of the City. Portions of Lafayette and Broomfield are also included in the new North Metro zone. Colorado's Enterprise Zone program provides tax incentives to encourage businesses to locate and expand in designated economically distressed areas of the state - those having a high unemployment rate, low per capita income, or a low population growth rate.
In Longmont, the new Enterprise Zone area will include the Village at Twin Peaks, significant portions of the St. Vrain Valley Blueprint area, 1st and Main redevelopment area, and Southeast Longmont Urban Renewal Area. The new zone will take effect January 1, 2016, and between now and then the Longmont Area Economic Council, City of Longmont, and LDDA will reach out to all business and property owners in the area to educate them and the benefits and how to make use of the Enterprise Zone program. Business and property owners wishing to inquire whether they are located within the zone should contact the Longmont Area Economic Council.
"The Longmont Area Economic Council (LAEC), the City of Longmont, and the Longmont Downtown Development Authority have worked diligently for several months to complete the application and earn this designation for our community,” said Jessica Erickson, President/CEO of the LAEC. “This provides incentives to potential businesses considering investing in Longmont, as well as significant benefits to businesses of all sizes currently invested in these areas that are critical to the future economic development of the City.”
"It's great to see the City's partnership with the LAEC and the LDDA pay dividends," said Longmont Mayor Dennis Coombs. "This designation is the result of the great working relationship we've created with our economic development partners through the Advance Longmont strategic plan. I'm very optimistic about Longmont's economic future."
About Longmont, Colorado
Longmont, Colorado, located within Boulder County, is a 22-square-mile city with more than 300 days of sunshine and a spectacular vista of the Rocky Mountains. With a population of 90,000, Longmont sits at an elevation of 4,979 feet above sea level. With more than 1,500 acres of parks and open space, a robust craft beer scene, thriving art culture, fresh dining opportunities, and a Main Street teaming with new energy, Longmont is perfect for everyone from young families to those young at heart. Longmont is also home to several high-tech companies and a nationally recognized school district. Longmont is conveniently located 37 miles from Denver, 16 miles from Boulder and 30 miles from Rocky Mountain National Park.
About Longmont Area Economic Council
The Longmont Area Economic Council is a public/private 501c(6) non-profit economic development organization serving the greater Longmont area. As the Longmont area’s primary agent for economic development, the Economic Council leads a comprehensive and collaborative economic development strategy to promote and strengthen the community’s economic health. The Longmont Area Economic Council offers a variety of services and resources to support the relocation, retention, and expansion of business in Longmont and serves as the gateway to Longmont for all businesses.
CONTACT:
Rigo Leal
Public Information Officer
City of Longmont
303-651-8840
Jessica Erickson
President
Longmont Area Economic Council
303-651-0128
