County approves personal property tax incentive payments agreement

The Board of Mesa County Commissioners approved a business personal property tax incentive payment agreement with Innovative Textiles, Inc. at their administrative public hearing on June 4. 

Under state law, Mesa County can offer a business personal property tax incentive payment to employers who invest $1 million or more in business personal property as long as the new property creates at least one full-time employment position. The incentive payment zeros out the business's personal property tax obligation for the new equipment. The spirit behind the law is to give counties the ability to incentivize businesses to expand and create new jobs. 

Innovative Textiles Inc. has purchased over $1.2 million of new equipment, which has directly created at least one new job. 

The two new pieces of equipment that qualified for the business personal property tax incentive payment are:

• A packaging machine
• A twisting frame