The Colorado Economic Development Commission approved $1.2 million in state tax credits on Thursday for a Colorado craft brewer that is looking at opening a production facility and beer garden in the struggling Northglenn Marketplace — assuming it doesn’t relocate its headquarters out of state.
Northglenn City Council has agreed to provide the brewer with $1.39 million in local sales tax rebates and the state is chipping in another $1.2 million in Job Growth Incentive Tax Credits if Project Prima, the codename given the company, adds 203 net new jobs at an average annual wage $88,443. The company, which currently has 50 employees in Colorado, is considering moving its headquarters to either San Antonio or Houston if it doesn’t remain in metro Denver.
“We have no doubt the company will be able to create the jobs they anticipate creating,” Michelle Hadwiger, the state’s deputy director of economic development told the commission.
Project Buffalo, an aerospace data company with 4,000 employees, is considering Douglas County for a hub that would employ 400 people at an average annual wage of $158,475. The jobs would be in engineering as well as in business and administrative positions.
To encourage the company to pick metro Denver over competing locations in Arizona and Virginia, where the company is based, the commission approved nearly $7.6 million in Job Growth Incentive Tax Credits over an eight-year period.
A Montrose consumer product manufacturer, applying as Project Illumination, received $260,827 in Job Growth Incentive Tax Credits conditioned on it relocating 52 jobs connected to its acquisition of a Seattle-based company. Those jobs would pay an average annual wage of $41,692, which is 101% of the average annual wage of Montrose County. Roles in production, order fulfillment and sales are among the potential jobs that could be coming to that area, which was hard hit by the closure of a Russell Stover Chocolates plant in 2020.
On Wednesday, the Colorado Office of Economic Development and International Trade announced a decision in Colorado’s favor from a September incentive award of $1.4 million under the codename Project Linen. SnapDNA, an early-stage Bay Area company that has developed a method of rapidly detecting foodborne pathogens like E. coli, listeria and salmonella, chose Broomfield over Austin, Texas, and the Bay Area for a new testing facility that will employ 144 people at an average annual wage of $124,573.
The company’s tests offer results in under one hour compared to three to seven days required in specialized off-site labs. The tests are much better at identifying the source and intensity of contamination, which can prevent outbreaks from happening, the company said. Besides the $1.4 million the state provided in tax credits, the Rocky Mountain Venture Club chipped in another $250,000 in an Early Stage Accelerator grant.
Hadwiger said another seven announcements are pending from companies that have selected Colorado over other states after receiving state incentives.
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