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Colorado Springs staff ask council to approve CHIP Zone boundaries to attract semiconductor investment
Summary
City economic-development staff recommended a resolution approving proposed Colorado Springs boundaries for Colorado's CHIP Zone incentive program, which would allow eligible semiconductor and advanced-manufacturing firms to apply for state tax credits; staff said there are no direct fiscal impacts to the city and requested placement on the Nov. 10 consent agenda.
Colorado Springs economic development staff asked the City Council on Monday to approve proposed local boundaries for Colorado's CHIP Zone, a 2023 state incentive intended to attract semiconductor and related advanced-manufacturing businesses.
Shauna Lippert, the city's economic development manager, told the council the approval would allow the city to submit an application to the Colorado Office of Economic Development and International Trade (OEDIT) and that the CHIP Zone designation would not change city zoning,…
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