7 Reasons Greater Grand Junction, CO, is Great for Business
Opportunity flows for businesses of all types and sizes in the region.
Business is booming, and it shows no sign of slowing down in Greater Grand Junction, CO. Here, opportunity flows for businesses of all types and sizes.
Education and health care nurture the region as top employers, and they are joined by agribusiness, aerospace and advanced manufacturing, energy and renewables, outdoor recreation, and technology sectors. Center all that between Gunnison and Colorado River-side living and more than 100 trails sweeping Grand Mesa, and you have the perfect place for companies – and their employees – to grow and thrive. Here are seven reasons the Greater Grand Junction region is great for business.
In This Article
1. Greater Grand Junction, CO, is Affordable
Quality of life is often measured by access to nature. Particularly in Colorado, this remains the draw to move or stay here – and the outdoor opportunities available are nearly endless. Plus, enjoying the outdoors can be done at little-to-no cost.
To plant roots in traditionally desired areas across the Front Range will cost between $500,000-$700,000 or more to buy a home and up to $2,000 per month to rent.
The average home value is $385,000 in Grand Junction, $433,000 in Fruita and $507,000 in Palisade (Zillow, August 2023), all well below the Colorado average, and the average rent is $1,400 per month (realtor.com, June 2023).
As the largest metropolitan region in Western Colorado, Grand Junction lays the groundwork for front-row access to outdoor living with big-city amenities and small-town well-being.
2. Opportunity Zones in Greater Grand Junction, CO
With small-town life comes the realities of reduced populations and resources. By investing in Opportunity Zones in economically distressed areas, developers can defer taxes on eligible gains, thus improving livelihood that is inclusive of all communities.
The federally backed program has already funneled more than $1 billion statewide, with seven Opportunity Zones within central Grand Junction, the downtown river district, Powderhorn, Grand Mesa and the Riverfront at Las Colonias Business Park.
3. Business Parks in Greater Grand Junction, CO
The Riverfront at Las Colonias extends 15 acres as a business park, with more than 140 acres set aside for mixed-use housing and entertainment space. The Commercial & Industrial Business Park in Fruita is similarly designed, with both parks being shovel-ready.
The Eddy Apartments, accompanied by tiny home, airstream and RV site lodging at Camp Eddy along the Colorado River, are a thriving example of zoned development.
4. Greater Grand Junction, CO, Strategic Fund Incentives
The Strategic Fund Incentive program supports and encourages new business development, business expansions and relocations that generate new jobs throughout Colorado. It is a cash incentive program for eligible businesses that create full-time jobs in the state that are maintained for at least one year.
Canfield Bikes is one of the program’s success stories.
The bike manufacturer relocated from Washington State to Fruita with the help of a Strategic Fund Incentive from the Colorado Office of Economic Development and International Trade, matched by the Grand Junction Economic Partnership (GJEP).
5. Business Development Organizations in Greater Grand Junction, CO
A 501(c)(3) nonprofit, GJEP has been a key spark in both job development and resiliency. Its online library offers endless tools, from zoning maps to site inquiry applications.
The Grand Junction Small Business Development Center can help with low-to no-cost job training and free consulting for entrepreneurs.
For those wanting to test their craft, the Business Incubator Center helps launch concepts from culinary to coworking spaces.
The Grand Junction Area, Fruita Area, and Palisade chambers of commerce offer a number of programs, including those that help women-, minority- and veteran-owned startups, as well as networking opportunities and events.
6. Rural Jump-Start Program in Greater Grand Junction, CO
Completing a full circle from Opportunity Zones and strategic funds, the Rural Jump-Start Program helps companies save on state income tax, state sales tax and use tax, county personal property tax, and state income tax for new business hires, sending up to $20,000 in grants and up to $2,500 per new hire.
To date, GJEP has helped 28 companies in Mesa County receive approval for this program, from innovative technology firms to eco-conscious housing solutions.
7. Greater Grand Junction, CO, Grant Programs
With all this new business, are workers ready? Highly skilled students from Colorado Mesa University and CMU Tech enter the workforce, then once jobs are created, the Skill Advance Colorado Job Training Grant program provides a pathway for sustainable growth.
Grants are still allocated for new and existing industries, with Colorado First programs focusing on training for new hires, and Existing Industry tailoring aspects such as new technology adoption.
Get to Know Greater Grand Junction, CO
Want to learn more about living and working in Greater Grand Junction, CO? Check out the latest edition of Livability Grand Junction & Beyond, Fruita, Grand Junction & Palisade, Colorado.