Saturday, May 21, 2011

Commerce City Council is expected to extend the economic incentive program

Commerce City Council is expected to extend the current economic incentive program for a three month period to end on September 1, 2011. After that time Economic Development staff will analyze program results and present recommendations to Council regarding future economic incentives. Learn more about incentive program click here...

The Commerce City Incentive Program was initially approved by City Council in 2010 and extended until June 1, 2011. This resolution would further extend the program to September 1, 2011.

Background Information:
On May 24, 2010, City Council passed a resolution to accept the recommendations of the Business Advancement Task Force and approve certain rebates for Economic Development in Commerce City. the intent of the program was to attract new businesses and help existing businesses expand to stimulate economic growth in Commerce City. The program has been well received. Although the national and state economy remain weak, more businesses are planning for growth. An extension of the program is warranted to provide a tool to continue to attract new businesses, help existing businesses that are planning to expand and provide an incentive to homeowners for improving homes in the city.

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