State OKs tax credits of $12.3M to lure high-tech, manufacturing companies

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The Colorado Economic Development Commission approved tax credits for five companies.

The Colorado Economic Development Commission has approved tax incentives totaling about $12.3 million to companies involved in advanced manufacturing, high-performance computing and aerospace. The companies are considering whether to expand or locate in Colorado.

One of the companies, with the code name of Project Lithium, is a global Fortune 200 business that has been in Colorado for 40 years and develops and tests a variety of semiconductor chips at sites across the U.S. The state EDC approved up to $2 million in tax credits to the company to consolidate its operations and add 40,000 square feet of space for an advanced data center.

The commission also approved up to $397,315 for Project Bobcat in a performance-based strategic fund incentive over five years at $1,831 per new job. Staffers said the company is looking at expanding operations outside its current facility and is considering Boulder County and Pennsylvania.Project Diamond, approved for up to $759,034 in performance-based job-growth tax credits over eight years, contingent on the creation of up to 61 new full-time jobs at a minimum average annual wage of $63,362.

Project AX Experience, approved for up to $1.6 million in job-growth tax credits over eight years, contingent on the creation of up to 100 new full-time jobs at a minimum average annual wage of

 

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