Small businesses in Colorado's rural areas have a new reason to celebrate with the introduction of Rural Jump-Start (RJS) operating grants. According to the Colorado Office of Economic Development and International Trade, this initiative aims to foster economic development and create jobs in rural counties. Governor Jared Polis emphasized the state's commitment, stating, "These grants will support businesses in our rural communities around the state."
The RJS program is prepared to bolster the economy with grants of $15,000 or $25,000 for businesses in coal transition communities. This financial support is expected to directly assist approximately 36 businesses, aiming to crucially generate at least 120 new jobs over three years. Eve Lieberman, OEDIT Executive Director, expressed enthusiasm about the program's extension, revealing that it "facilitated 212 new hires in our rural communities" last year.
Replacing an original grant program set to expire, this new round of funding carries additional advantages for participating businesses. Beyond grant support, these entities stand to gain relief from multiple layers of taxes, from state income to municipal personal property taxes, as outlined by OEDIT's recent announcement.
OEDIT Deputy Director, Jeff Kraft, underscored the program's collaborative foundations and its successful track record in enabling business growth. Kraft was quoted, highlighting that the program was "initiated in partnership with rural communities" and has consistently supported new ventures across Colorado's rural landscape. With 35 counties already approved as RJS Zones and 33 companies actively participating, the RJS initiative appears well-positioned to continue its positive impact on the local economies.
