The Regional Tourism Act (RTA) is a program of the Colorado Economic Development Commission, which supports economic development initiatives such as marketing, incubators, job creation incentives and other economic development projects through various funding sources. The RTA promotes diversification of the state’s economic base by providing a financing mechanism for attracting, constructing and operating large-scale regional tourism projects that include tourism or entertainment facilities that will attract a significant investment and revenue from outside the state. These projects must be:
- extraordinary and of unique nature
- anticipated to result in a substantial increase in out-of-state tourism and
- generate a significant portion of their sales tax revenue from transactions with nonresidents of the state.
What does this mean?
- If the Go NoCO application is accepted, than we will receive resources to make our Go NoCO projects a reality beginning in 2016-2017 to support our local economies through tourism.