Kiowa County is located in an Enhanced Rural Enterprise Zone.  Business locating in these zones are eligible for additional state income tax credits.  The local enterprise zone administrator is Southeast Colorado Enterprise Development.

The Credits: Businesses that create new jobs in a new or qualifying expanded business facility in an eligible Enhanced Rural EZ ("EREZ") will be eligible for an additional state income tax credit of $2,000 per new business facility ("NBF") employee. This enhanced credit is in addition to the regular enterprise zone tax credit of $500 per NBF employee, for a total credit of $2,500 credit per NBF employee in an EREZ.

For NBF employees hired in an agricultural processing business, there is an additional credit of $500 per NBF employee in an EREZ, plus the regular EZ credit of $500 per NBF ag processing employee -- in other words, a total of $3,500 per new ag processing job.

EREZ credits earned in excess of the taxpayer's tax liability may be carried forward for up to 7 years (the regular EZ new job credits have a 5 year carryforward).

The Enhanced Rural Zones:
Enhanced Rural Enterprise Zones are those portions of regular enterprise zones that lie within counties meeting at least two of the following five criteria:

• county unemployment rate greater than 50% above state average

• county per capita income less than 75% of state average

• county population growth rate less than 25% of state average

• total non-residential assessed value ranks in lower half of all counties

• county population less than 5,000

The state will promulgate a revised list of eligible counties every two years. When a county goes off the EREZ list, taxpayers who have future job creation plans in such a county may file a certification with the Department of Revenue for an extension of up to five additional years to continue claiming EREZ credits based on additional job creation.