The following projects were approved at the April 2026 Colorado Economic Development Commission meeting. The Colorado Economic Development Commission (EDC) develops incentive packages to assist with existing business expansions and new company relocations to grow jobs in all regions of the state. They typically meet on the third Thursday of every month.
The incentives requiring approval for these kinds of projects are:
Job Growth Incentive Tax Credit
These awards do not guarantee that the company will accept the offer and/or expand or relocate to Colorado.
Project Name: Hera
Summary
The company behind Project Hera is and is primarily focused on researching, designing, developing, manufacturing, integrating and maintaining cutting-edge technology systems, products and services. Due to the nature of the company, further identification would jeopardize the company’s confidentiality.
The company is expanding the scope of multiple federal contracts as well as pursuing new program contracts. These and other growth opportunities could potentially lead to the creation of up to approximately 1,250 net-new jobs over the next four years. In addition to Colorado, the company is considering Alabama, Florida, and Pennsylvania. Within Colorado, the company is considering Douglas County and/or Jefferson County.
Jobs
Project Hera, should it occur in Colorado, expects to create 1,250 net new jobs at an average annual wage of $122,043.08, which is 108% of the average annual wage in Broomfield County, which is the highest AAW in the Denver Metro and used for comparison purposes. The jobs will include Cybersecurity Engineers, Software Engineers, Technicians, and Administrative Services. The State is in contact with Douglas County about this project, and Douglas County has committed significant investment in the form of tax credits and other assistance, so there is strong local support for the project.
This project would support the state’s economic goals by creating net new jobs in the economy and supporting one of Colorado’s largest industries (Aerospace & Defense).
Incentive
Up to $26,593,422 in performance-based Job Growth Incentive Tax Credits over an 8-year period, 96 months, is requested from the EDC. The amount of this incentive as recommended above takes into account OEDIT staff’s analysis of the four factors identified in C.R.S. § 39-22-531 (3)(c).
This incentive is contingent upon:
- The creation of up to 20 net new full-time jobs at a minimum average annual wage (AAW) of $113,204 (100% of Broomfield County) or 100% of the AAW of any county in Colorado the company decides to locate over 8 years.
- The maintenance of the net new jobs in Colorado for one full year before any credits become vested.
- The creation and maintenance of at least 20 net new jobs before any credits are issued.
Consideration
Main decision factors include cost of doing business.