The following projects were approved at the February 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: Project Elevate
Summary
The company behind Project Elevate is a real estate investment and modular home manufacturing company. They offer structured real estate investment opportunities and professional services along with manufacturing modular housing options. Due to the nature of the company, further identification would jeopardize the company’s confidentiality.
The company is seeking to increase their manufacturing capacity to scale up production of modular housing. The company is considering expanding their current operations in Colorado. In addition to Colorado, the company is considering Wyoming and Montana.
This project would support the state’s economic goals by creating net new jobs in the economy and supporting the supply chain of affordable housing units.
Jobs
Project Elevate, should it occur in Colorado, expects to create 97 net new jobs at an average annual wage of $77,241, which is 135% of the average annual wage in Mesa County.
Incentive
Up to $1,082,996 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 97 net new full-time jobs at a minimum average annual wage (AAW) of $57,421 (100% of Mesa County) or 100% of the AAW of any county in Colorado the company decides to locate over 8 years.
- Project location will include net new job growth at both the existing ~17,000 sq. ft. facility and the new ~125,000 sq. ft. facility to be built.
- 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
This project would support the state’s economic goals by creating net new jobs in the economy and supporting the supply chain of affordable housing units.
Project Name: Frontera
Summary
The company behind Project Frontera manufactures products for the construction industry and performs related construction activities. Due to the nature of the company, further identification would jeopardize the company’s confidentiality.
The company currently operates in Colorado and serves construction markets in Colorado and neighboring states. The company is evaluating options for growth, including options to move its base of operations or otherwise expand into New Mexico or Utah. Within Colorado, the company is considering growth in its current location of Montrose County. The decision is driven primarily by costs, including labor and real estate costs, which are demonstrably lower in New Mexico and Utah. Growth or transition to those states is assessed not to materially limit the company’s access to its existing markets and supply chains in Colorado.
Jobs
Project Frontera, should it occur in Colorado, expects to create 40 net new jobs at an average annual wage of $55,375 which is 104% of the average annual wage in Montrose County. The jobs will include manufacturing, sales, and field/installation roles. The company currently has 30 employees, all of whom are in Colorado.
Incentive
Up to $229,213 in performance-based Job Growth Incentive Tax Credits over a 5-year period, 60 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 40 net new full-time jobs at a minimum average annual wage (AAW) of $53,131 (100% of Montrose 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
This project would support the state’s economic goals by creating net new jobs in a rural community, supporting Colorado’s construction supply chain, and expanding construction-related exports to neighboring states.
Project Name: Neon
Summary
The company behind Project Neon is in the quantum industry. They are also applying for a Job Growth Incentive Tax Credit under the project name Electron.
The company is looking to expand their US R&D and manufacturing capabilities. In addition to Colorado, the company is considering New Mexico. Within Colorado, the company is considering Boulder County. Important decision making factors include proximity to Colorado's quantum ecosystem, access to talent, and state incentives.
Jobs
Project Neon, should it occur in Colorado, expects to create 150 net new jobs at an average annual wage of $168,422.48, which is 172% of the average annual wage in Boulder County.
Consideration
This project would support the state’s economic goals by supporting a high-tech, advanced manufacturing company's expansion in the state. It will support the creation of high-paying net new jobs in the economy and support the thriving quantum computing industry in the state.