Colorado offers incentives to 4 companies looking to bring more than 700 jobs
Colorado Economic Development Commission members offered nearly $10 million in incentives Wednesday to a quartet of companies seeking to bring a combined 732 jobs to the state, putting Colorado into direct competition with Texas for three of the companies and offering rural counties a potential big haul in the form of two of the four relocating or expanding firms.
The largest offer went to “Project Salvo,” a publicly traded Fortune 500 company that already employs almost 700 people in Colorado and is considering expanding operations of one of its wholly owned subsidiaries in Boulder County. The unnamed company — most firms considering incentives go by pseudonyms until they accept the offers — makes advanced-flow measurement devices that serve customers in the industrial, commercial and residential markets, and if the century-old company chooses Colorado, it would invest roughly $100 million to build a 130,000-square-foot facility and plan to hire 252 people at an average annual wage of $109,250.
Commissioners voted without objection to offer $4.28 million in job-growth incentive tax credits to the company. Michelle Hadwiger, global business development director for the Colorado Office of Economic Development and International Trade, said the firm offered the opportunity for the state to grow even more jobs from companies within its supply chain, but she also warned that it owns a vacant facility in Texas, where it also is considering expanding, that makes that state a cheaper alternative in some ways than moving to Colorado.