Tax & Accounting Blog

Colorado Springs Applies For Tax Incentives

Indirect Tax, ONESOURCE, Sales and Use Tax July 12, 2013

BalloonThe Regional Tourism Act (RTA) gives local governments an avenue to apply for tax incentives, furnished through state tax collections within the zone, which help fund large scale tourism projects to entice out of state visitors. Unlike last year, where six municipalities were competing for only two spots granted by the Economic Development Commission (EDC), only Colorado Springs had submitted an application by the deadline. Amongst their plans for their sought $201 million over thirty years, includes an Olympic museum, a minor league baseball stadium and event center, a sports medicine center, and a U.S. Airforce visitors center. The four projects are anticipated to bring in over 1 million visitors annually to the Pikes Peak area.

RTA info:

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