Bill to extend new rural small businesses grant money, tax incentives moves on [Video]

DENVER — A bill extending grant money and tax credit incentives for new rural small business owners has passed the Colorado House of Representatives.

Colorado Sun Tofu, a food manufacturing company in Trinidad, got its start-up costs through the statewide Rural Jump Start program. It offers new rural business owners in Colorado tax relief up to $40,000 to start, and up to $5,000 for every new hire.

“The difference in having the opportunity of the tax credits and also the grants is the difference in us being able to open or not open,” CEO Lauren Roberts said.

HB24-1001 would extend the program another two years from July 2024. It now moves to the state Senate.

“If the [program doesn’t continue] we are going to see a closure of businesses, a decline in job opportunities and our rural communities will get hit the hardest,” Roberts said.

Roberts relied on the program to hire six employees …