Seventh company in Mesa County to join tax credit program in 2021
ColoradoBiz Staff //December 17, 2021//
Seventh company in Mesa County to join tax credit program in 2021
ColoradoBiz Staff //December 17, 2021//
The Economic Development Commission, a division of the Colorado Office of Economic Development and International Trade (OEDIT), approved Sky Peak Technologies for the Rural Jump-Start Tax Credit Program, a Colorado incentive program that provides companies located in rural areas with significant tax breaks if they bring a new technology, product or service to the region.
Sky Peak Technologies, based in Fruita, has developed a proprietary software to reduce mobile data consumption and costs for Mobile Operators. The company earned statewide recognition earlier this year as a winner of the Greater Colorado Pitch Series during West Slope Startup Week. With this incentive program, the startup plans to open a new office in Fruita and hire at least five new software developers. Their primary source for new talent will be through a collaboration with Colorado Mesa University’s computer science program.
Sky Peak is the seventh company to join the Jump-Start program in Mesa County since August–and the sixth company to be approved for the tax credit this calendar year. Additional companies that were recently approved for the program are:
The Grand Junction Economic Partnership (GJEP) previously reported on Eco Super Structures, Hayden Data and Acom Unlimited, which were approved for Jump-Start earlier this year.
The Jump-Start program originated in Mesa County in 2015, spearheaded by Colorado Mesa University (CMU), local business leaders and economic development partners. Sky Peak Technologies makes the 25th company to participate in the program in the County.
Through Jump-Start, companies receive 100% tax credit on income and sales taxes for four years, with opportunity to extend for another four years. As of this year, participants are also eligible for special cash grants. In exchange, the businesses will add a minimum of three net new jobs to the county in high-paying, highly skilled fields. They also form a partnership with CMU through mentorship, internship opportunities and community involvement. To learn more about the Rural Jump-Start Tax Zone in Mesa County, Colorado, visit jumpstartmesaco.com.
The Grand Junction Economic Partnership (GJEP) works to enhance the economic vitality and quality of life in Colorado’s Grand Valley by supporting high-impact capital investment and job creation. GJEP is a single stop for businesses looking to relocate or expand in the cities of Grand Junction and Fruita, the Town of Palisade and surrounding communities of Mesa County. Operating as a 501(c)3, GJEP offers free services that connect businesses with realtors, developers, workforce, local leadership and more. GJEP also provides guidance on incentive programs, such as the Rural Jump-Start Tax Credit and Opportunity Zones. Join us in the New West – visit www.gjep.org for more information.