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RANGELY | Rangely’s economic development plan, created in conjunction with Better City, achieved a new milestone last week when the town received notification that the Rangely Airport has been designated an aviation development zone. One of the goals identified by Better City was to establish Rangely as an airplane maintenance, repair and overhaul location, bringing in small aircraft for needed work. The development zone designation will provide incentives to businesses in that industry.
The designation will allow a business or any portion of a business that is involved in the maintenance and repair, completion or modification of aircraft to qualify for a state income tax credit of $1,200 per new full-time employee. In order to qualify the business must have at least ten full time employees. The designation and tax credit come from the state.
Katelin Cook, County Economic Development Coordinator called the designation exciting news. “It is yet another incentive that we can provide to potential business operators, making Rangely a more competitive business destination. If you pair this with the enterprise zone, rural jump start, and other state incentives, it makes for a much more compelling business recruitment tool,” she said.
Cook stated that the next steps include further analysis and pitching Rangely to businesses, searching for a potential fit.