Enterprise Zone (Enhanced)

The SECED region is also known as the Southeast Enterprise Zone. SECED’s contract with the Colorado Economic Development Commission for $25,000 is matched by SECED with $25,000. These funds are used to implement the Southeast Colorado Enhanced Enterprise Zone Development and Marketing Plan.

With these funds SECED reproduced the Discover Magazine, secured an ad in the State Vacation Guide, reproduced the regional profile and upgraded the SECED home page. SECED staff participated in the World Dairy Expo, International Food Technology and the Manufacturing Trade Show in an effort to recruit business into Southeast Colorado SECED is one of 16 state designated Enterprise Zone agencies created as a result of the Colorado’s Urban and Rural Enterprise Zone Act of 1986.

Each zone independently establishes policies and criteria for administration. The Executive Director, also serves as the Southeast Colorado Enterprise Zone Administrator and authorizes all tax credit applications within the Southeast Colorado Enterprise Zone. Multiple state tax credit incentives are available to assist individual constituents, businesses and organizations. SECED reports the capital investment in the enterprise zone in 2003 exceeded $27 million dollars and tax credits in 2003 exceeded $681,000.

 Additionally, the Southeast Colorado Enterprise Zone is eligible for certain state and federal funding to benefit the area as a result of being a designated enhanced enterprise zone.

Enhanced Enterprise Zone designation is based on the following five criterion:
• County unemployment rate is 50% above state average
• The county population growth rate is less than 25% of state average
• Total assessed value of all non-residential property in the county ranks in the lower half of all counties
•County population is less than 5,000
•County per capita income is less than 75% of the state average.