Incentives

The Town of Bennett offers many incentives for developing in town. Some of those incentives include tax rebates and programs from the local to the state level, predictable development process with defined time frames, recently updated and streamlines land use code, locations within the state enterprise zone, collaborative design and review process, easy access to staff and decision makers, weekly development review sessions and defined development costs. 

Economic Development Assistance Policy

An applicant can apply for enhanced or increased sales and/or use taxes, and/or permit fees.  This process is approved by the Town Trustees.  The assistance policy was created to target new and expanding businesses that diversify our economic base and continue to provide for the fiscal health of our community while respecting our environment and our unique small town feel. 

Public Reimbursement Agreements

The Town has the financial mechanism in place to enter into public improvement reimbursement agreements with private developers and property owners for the design and construction of municipal infrastructure that is included on the Town’s Capital Improvement Plan and serves the developer or property owner.

Development Friendly Fee Schedule

Tax Credits and Rebates

Enterprise Zone

An Enterprise Zone (EZ) is considered an economically distressed area where businesses are eligible to receive Colorado Income Tax Credits for activity such as creating jobs and investing in capital.

Foreign Trade Zone

An area within a country where imported goods can be stored or processed without being subject to import duty. Also called a "free zone," "free port," or "bonded warehouse."

Contribution Projects

These certified Contribution Projects by the Colorado Economic Development Commission, are now eligible for financial contributions providing tax credits to contributors. Individuals and organizations with a Colorado state income tax liability can earn tax credits by contributing to designated Contribution Projects. Contributors to these organizations can earn a 25% tax credit on cash contributions or 12.5% on the value of in-kind contributions.

Reduced Use Tax for Development

To learn more about the incentives in Bennett, download the full PDF here