Rural Jump-Start Operating Grants is sponsored by Colorado Office of Economic Development and International Trade (OEDIT). Provides operating expense grants to businesses relocating to or starting in designated Rural Jump-Start zones in economically distressed, rural counties of Colorado.

Rural Jump-Start Grant Program | CEDS FINANCE Rural Jump-Start Grant Program Rural Jump-Start Grant Program Carly Williams 2024-11-04T02:22:05-07:00 The Rural Jump-Start Program was designed to help rural Colorado communities attract new businesses by providing tax incentives, grants, and job creation benefits for entrepreneurs.

This program is a collaborative effort involving the state, local governments, colleges, and economic development groups to encourage businesses to start or relocate to economically distressed areas in Colorado, known as Rural Jump-Start zones, and to create new jobs. Learn More About The Rural Jump-Start Grant Program Businesses located or starting in rural, economically distressed counties as designated by OEDIT.

These counties are currently Rural Jump-Start zones: Alamosa, Archuleta, Clear Creek, Costilla, Conejos, Delta, Dolores, Fremont, Garfield, Huerfano, Kiowa, Kit Carson; Lake, Las Animas, Lincoln, Logan, Mesa, Moffat, Montezuma, Montrose, Morgan, Otero, Phillips, Prowers, Pueblo, Rio Blanco, Rio Grande, Routt, San Juan, Sedgwick, and Yuma These counties are designated as economically distressed and are eligible to be Rural Jump-Start zones, but they have not yet applied to the program: Baca, Bent, Cheyenne, Crowley, Custer, Hinsdale, Jackson, Mineral, Saguache, and Washington.

Grants up to $20,000 per new business ($40,000 for new businesses in Just Transition communities), up to $2,500 per new hire ($5,000 per new hire in Just Transition communities) Business Eligibility Requirements Once you’ve confirmed your business is located in a designated Rural Jump-Start Zone or Tier 1 Just Community, other eligibility requirements apply.

Businesses: Not be operating (selling a product or service) in Colorado at the time of application; Eligible businesses may be planning, fundraising, recruiting, doing market research, preparing for production (designing/prototyping), filing business formation or registration, or manufacturing and testing a proof of concept, even if some revenue is associated with the activity.

Be located in a Rural Jump-Start zone; Not directly compete with another business in its county or in an adjacent, economically distressed county Export goods and services outside the county (this could include tourism); Form a relationship with a sponsoring entity to align missions and benefit the community; and Plan to hire at least five qualified New Hires (that are not existing jobs moving to the Rural Jump-Start zone) Grant benefits depend on where the business is located: For businesses in a Rural Jump-Start zone, they can get up to $20,000 in matching grants as a new business and up to $2,500 for each new employee hired.

For businesses in a Rural Jump-Start zone that is also a Tier 1 Just Transition community, the benefits increase to up to $40,000 in matching grants as a new business and up to $5,000 per new hire. The program matches a business’s operating expenses at either a 3:1 ratio or 25%, with a minimum reimbursement of $5,000. For example, if a business spends $20,000 on supplies, the program would reimburse $5,000.

To find out more about qualifying as a New Hire, visit the program’s webpage.

Three steps to becoming a Rural Jump-Start business: Contact the sponsoring entity in your rural jump-start zone to determine qualification and create a memorandum of understanding that outlines the relationship Go to the OEDIT Application Portal and login or create an account Collaborate with sponsoring entity to complete and submit the Rural Jump-Start application in SalesForce (please see program webpage to learn more about required documentation) Application Preview: Step-by-Step Guide Applying for the Rural Jump-Start Program involves three main steps once you’ve completed the initial prep work: OEDIT recommends that businesses reach out to the Rural Jump-Start Program director early, ideally before applying.

Plan for plenty of time and be prepared to collaborate with a sponsoring entity for the application process. Expect around two months for your application to be reviewed and either approved or denied. 1.

Work with a Sponsoring Entity Partner with a sponsoring organization to create a “memo of understanding. ” The specific criteria will vary by entity. Some may require a connection to local academic research or for the business to lease space from them.

For example, John Bristol from Routt County Economic Partnership emphasizes building long-term relationships, where businesses are invited to join their entrepreneurship program to get support with business plans, pitches, and financial projections. 2. Create an OEDIT Salesforce Portal Account Set up an account in the OEDIT Salesforce portal.

This process can take a few days for approval, so plan accordingly. 3. Submit Your Application Once your account is approved, submit your application alongside the sponsoring entity.

You’ll need to provide: Articles of incorporation or organization A Statement of Good Standing from the Colorado Secretary of State OEDIT will first confirm that there isn’t a similar business already operating in your chosen Rural Jump-Start Zone or nearby counties. There’s then a one-month period during which existing businesses can challenge your application if they believe it poses competition.

OEDIT will review these challenges and decide if your application can proceed or should be denied. Approved applications are forwarded to the monthly CEDC meeting, held on the third Thursday of each month, for a final decision. If approved, your eligibility for benefits starts from that date.

Note: Being approved as a Rural Jump-Start business is just the first step. To access the benefits, you must submit an annual report to determine tax benefit values and can request reimbursement through grant funds. What are Rural Jump-Start Zones?

Rural Jump-Start Zones are recognized by the State as economically-challenged or distressed areas, with populations under 250,000. They may be smaller than, but no larger than an entire county.

To earn designation, these regions must meet at least three requirements of economic distress, which include, but are not limited to: below average per capita and/or countywide personal income, higher than average unemployment, workforce age emigration, above average number of students that qualify for free lunch at school, and current designation as an Enterprise Zone.

Current Rural Jump-Start Zones: Alamosa, Archuleta, Clear Creek, Costilla, Conejos, Delta, Dolores, Fremont, Garfield, Huerfano, Kiowa, Kit Carson, Lake, Las Animas, Lincoln, Logan, Mesa, Moffat, Montezuma, Montrose, Morgan, Otero, Phillips, Prowers, Pueblo, Rio Blanco, Rio Grande, Routt, San Juan, Sedgwick, and Yuma Counties.

Qualified areas that have not yet applied for Rural Jump-Start Zone designation: Baca, Bent, Cheyenne, Crowley, Custer, Hinsdale, Jackson, Mineral, Saguache, and Washington Counties. What are Tier 1 Just Transition Communities? Tier 1 Just Transition Communities meet all the requirements of Rural Jump-Start Zones, with the added qualifier that the region must also be transitioning or diversifying from a coal-based economy.

Compared to those in Rural Jump-Start Zones, businesses located in Tier 1 Just Transition Communities are eligible for twice the operational grant money (up to $40,000), and twice the amount in new hire grants (up to $5,000 per hire). Current Tier 1 Just Transition Communities: Moffat, Morgan, Pueblo, Rio Blanco, and Routt Counties, and Western Montrose County.

Colorado Office of Economic Development and International Trade (OEDIT) OEDIT Rural Jumpstart Program OEDIT Business Funding and Incentives Division SUCO Grants and Opportunities The Colorado Rural Jump-Start Program provides a unique opportunity for new and relocating businesses to receive cash grants and tax benefits by establishing their presence in the state’s rural areas.

Recently reauthorized by the State, the program will continue to offer grant funding until July 2025, and tax incentives will remain available through January 2031. The required collaboration with local governments and sponsoring entities aims to create a stronger network of economic support for small businesses throughout Colorado. The OEDIT team is an excellent source of assistance and information.

Be sure to review the full Rural Jump-Start Program details on the OEDIT website and reach out to Morgan Vankat, the Rural Jump-Start and Skill Advance Program Manager, for any specific questions. 10660 E Colfax Ave, Suite B