The Colorado Economic Development Commission Thursday approved more more than $10 in economic incentives to three companies that are considering moving to, or expanding in, Colorado, according to a news release from the Office of Economic Development and International Trade (OEDIT).
The commission uses code names for the companies to protect privacy during negotiations.
Colorado's aerospace industry has grown significantly in recent years, and will grow more if the three companies with aerospace ties decide to accept the commission's offer.
Project Maverick, a company that produces silicon anodes for high energy lithium-ion batteries, was awarded the most economic incentive tax credits Thursday out of all companies with $5,491,784. This company has developed a unique manufacturing process to grow 3D structures in a roll-to-roll system, according to the news release. This company would support United States electric vehicle and aerospace markets. It is also considering Texas and Arizona as potential locations for a facility. If the company chooses Adams County, it could create 332 net new jobs at an average annual wage of $68,516.
An aviation company under the name Project Spectra would establish a training center for an aerospace company. There are various sites in the Denver and Phoenix metro areas by this company that officials expect will be secured for development by June 1, according to a news release. In addition to Denver, the company is looking at Goodyear, Arizona. If located in Denver, this company could create 240 net new jobs with an average annual wage of $186,500. Commissioners approved $3,790,995 in job creation incentive tax credits for this company.
Project Beacon is an aerospace engineering and analysis firm currently headquartered in Huntsville, Alabama. This company provides engineering, analysis and technical management support to the U.S. Department of Defense, federal and commercial customers, according to the press release. Commissioners approved up to $1,347,612 in job creation incentive tax credits for this corporate expansion project. Company officials are considering Cape Canaveral, Florida, as well. If the company picks El Paso County, it could create 71 net new jobs with an average annual wage of $115,049.
