New Craig business asks Moffat County Commissioners for tax credit
November 7, 2013
Craig/Moffat County Economic Development Partnership and a new local business, Hill Petroleum, introduced a proposal to Moffat County Commissioners Tuesday to get a tax credit.
Hill Petroleum, a full-service petroleum marketer, has three other Colorado locations, and in those locations received partial sales tax breaks.
"We've been granted a moratorium of 50 percent of our sales tax for three years and for some cases, five years," said Troy Hill, president of Hill Petroleum.
Hill is trying to do the same in Moffat County. He already set up shop in Craig in September but said the sales tax relief authorized by the county would be an investment in a new-coming business and encouragement for other businesses to start up in the area. The county would see returns on that investment, he said.
"There is going to be tax base coming into the county…that isn't coming now," he said.
County commissioners expressed hesitation.
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"There's already like businesses in the area and we haven't give those other businesses tax credits over the years," said County Commissioner Chuck Grobe.
Audrey Danner, interim director for CMEDP said this was a way to welcome new businesses to town.
"It's part of our jobs as economic development to introduce these new conversations," Danner said.
Hill wants the break because he will be purchasing some pretty big equipment from area, he said. He foresees spending at least $750,000 in the county on equipment by the end of 2014.
County Commissioner Tom Mathers wasn't convinced.
"We can't just pick and choose who we give a tax break to," he said.
He also pointed out that the investment might not turn out, and there might not be incentive for the county to take that sort of risk.
Danner asked the commissioners to have a workshop on the issue to see all the benefits and work out the details to see if it could be a viable option. They will be meeting at a later date.
Erin Fenner can be reached at 970-875-1794 or firstname.lastname@example.org.