According to the Town of Castle Rock’s Economic Development Assistance policy, the Town may elect to provide Economic Development Assistance for the retention, expansion or new location of targeted businesses that help the community achieve its stated goals. These goals currently include high quality nonresidential development; creating regional draws that bring revenues to the community; preserving and enhancing Downtown Castle Rock as a viable central business district; and becoming a free-standing, self-sufficient community.
Targeted businesses identified in the policies include:
Depending upon the project, a variety of assistance is available, including:
The Community Services Division of the Community Development Department is the lead agency for Douglas County Community Development Block Grants (CDBG). A CDBG is a federally funded grant through HUD that was created to improve the physical, economic, and social conditions for low- and moderate-income residents or low-income areas. In Douglas County, it can be used for:
The Douglas County CDBG program year runs from Aug. 1 to July 31. The Douglas County 2008 program year grant was approximately $790,000. For more information call Jennifer Eby, CDBG Administrator, at 303.660.7460 or e-mail her at email@example.com.
The State of Colorado allows local taxing units to provide incentive rebates to new or expanding companies. These rebates are negotiated with the local county or municipality and can be as much as 50% of the amount of taxes levied by the county upon the taxable personal property directly attributable to the new business or existing business’ expansion. This rebate is allowed for a maximum of four years. For information contact Meme Martin at Douglas County, at 303.660.7449. Note: For certain targeted businesses, other incentives may be available on a case-by-case basis.
Colorado’s Office of Economic Development and International Trade provides information on state-level incentives available to qualifying businesses. Some of the current programs include:
Castle Rock has more than a dozen financial institutions, many of whom specialize in commercial services and construction lending. You may choose a truly local bank like Castle Rock Bank or larger chains like First Bank of Douglas County or Wells Fargo.