COLORADO SPRINGS — Colorado Sun Tofu, a food manufacturing company in Trinidad, got its start-up costs through a state program.
"The difference in having the opportunity of the tax credits and also the grants is the difference in us being able to open or not open," said CEO Lauren Roberts.
Through the Rural Jump Start program, new rural business owners can get tax relief and up to $40,000 to start and up to $5,000 for every new hire.
The bill to extend this program passed in the House and is moving forward to the Senate. The grant program would extend another two years from July 2024.
"If the [program doesn't continue] we are going to see a closure of businesses, a decline in job opportunities and our rural communities will get hit the hardest," said Roberts.
Roberts said they relied on the program to hire six employees in the first six months of business. Without this grant program continuing, Roberts said the goal of doubling the number of workers in the next year would be nearly impossible.
Sales have doubled within the first six months and more workers are needed.
"The staff we have found have been incredible, talented, dedicated, there's a diverse skill set and long history of manufacturing in the area," said Roberts.
Pueblo Community College (PCC) has been a Rural Jump Start Program sponsor for years. It helped three businesses get started in Pueblo County.
"We both benefit from the relationship and for businesses, we can help provide them with a pipeline of students who are graduating to fill their open positions," said PCC's Corporate College executive director, Amanda Corum.
To qualify for this program, the new business must start in a county with a population of fewer than 250,000 people.
The county also meets economic distress factors, which means the area has a low average income or a high unemployment rate.
Right now, 43 out of Colorado's 46 counties qualify.
"We have a lot of folks in rural communities that travel to larger areas to seek employment so to keep that funding in the county and community is all the better," said Corum.
Starting Wednesday, small businesses can apply for grants.
WATCH: Small businesses can apply for grants starting tomorrow
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