Ritter offers plan to slash business property tax, boost economy | PostIndependent.com

Ritter offers plan to slash business property tax, boost economy

Associated Press Writer
Glenwood Springs, CO Colorado

AURORA, Colo. ” Gov. Bill Ritter outlined an ambitious plan Tuesday to lure new businesses to Colorado by slashing taxes, cutting red tape and concentrating on such 21st century technology as bioscience, aerospace and renewable energy.

Ritter, a Democrat, said it’s time for state government to work with businesses.

Earlier this year, he clashed with organized labor when he vetoed a bill that would have made it easier to form union shops.

“As governor, I am committed to leading a state government that partners with businesses, listens to their concerns and comes up with ideas to help our businesses get ahead in this increasingly competitive global marketplace,” he said.

He said his plan would help large and small businesses in both rural and urban areas.

Ritter proposed a legislative package that would cut taxes for 30,400 businesses by raising the business personal property tax exemption from $2,500 to $7,000.

It would also eliminate sales taxes on planes built in Colorado.

Ritter proposed establishing research funds of $3.5 million each for bioscience and clean energy.

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