West Greeley Self Storage, currently under development in Greeley, Colo., has received a $20,000 credit from the Weld County, Colo., Small Business Incentive Program, which will be used to offset building-permit, land-use and various impact fees, according to the source. When complete, the property at 1005 95th Ave. will comprise 108,500 square feet of rentable space in 569 units.
The incentive program is designed to reduce upfront expenses incurred by small businesses operating in the unincorporated county. To be eligible, a business must hire at least half its employees from within Weld County, maintain a staff of 25 or fewer at the time of the application, and consult with the county’s Small Business Development Center regarding its business plan, the source reported.
“The commissioners started the Small Business Incentive Program with businesses like West Greeley Self Storage in mind,” Barbara Kirkmeyer, chair of the Weld County Commission, told the source. “The program is designed to promote economic activity in our county by helping small businesses afford the startup costs and fees.”
The commission started the program in 2011 as a “bottom-up approach to economic development,” according to the source. It was created with $500,000 from the county’s Economic Development Fund.