The following projects were approved at the January 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 incentive requiring approval for these kinds of projects is:
Job Growth Incentive Tax Credit
This award does not guarantee that the company will accept the offer and/or expand or relocate to Colorado.
Project Name: Electron
Summary
The company behind Project Electron is a company in the quantum industry.
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.
This project would support the state’s economic goals by creating net new, high-paying jobs and builds directly on Colorado’s investments in quantum research, workforce development, and ecosystem support, translating public funding into tangible private-sector growth.
Jobs
Project Electron, 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. The jobs will include quantum scientists, system engineers, and operations managers. The company currently has 95 employees.
Incentive
Up to $2,760,641 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 150 net new full-time jobs at a minimum average annual wage (AAW) of $97,721 (100% of Boulder 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, high-paying jobs and builds directly on Colorado’s investments in quantum research, workforce development, and ecosystem support, translating public funding into tangible private-sector growth.
Project Name: Oak
Summary
The company behind Project Oak is an aerospace company and this project represents the company's expansion of its DoD related business activities.
Within Colorado, the company is considering El Paso County or Elbert County; El Paso County is used as the basis for this application, as it has the higher average annual wage. In addition to Colorado, the company is also considering expansion in the state where their HQ is located. Factors driving this decision include expansion costs, proximity to specialized talent in the aviation industry, and proximity to customer base—notably including the US Air Force and US Space Force installations in the Colorado Springs area.
Jobs
Project Oak, should it occur in Colorado, expects to create 150 net new jobs at an average annual wage of $85,927, which is 126% of the average annual wage in El Paso County. The jobs will principally include engineers and technicians, as well as buyers, managers, planners, and technical writers. The company currently has 158 employees.
Incentive
Up to $1,978,673 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 150 net new full-time jobs at a minimum average annual wage (AAW) of $60,515 (100% of El Paso County AAW) 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 new jobs linked to the existing aerospace and defense cluster in the El Paso County area, anchored by DoD installations. Should the company grow its Colorado operations, hiring is expected to draw significantly from transitioning service members already based in the Front Range, with talent retention benefits to the state.
Project Name: Cedar
Summary
The company behind Project Cedar manufactures and distributes painting and blasting equipment for industrial applications in various sectors including defense, energy, transportation and manufacturing. Due to the nature of the company, further identification would jeopardize the company’s confidentiality.
The company is seeking office and warehouse space and may pursue two distinct facilities. The company is considering moving their headquarters to Colorado. In addition to Colorado, the company is considering the Dallas, Texas metro area. Within Colorado, the company is considering Metro Denver. Main decision factors include access to talent, quality of life, and Colorado’s research ecosystem.
Jobs
Project Cedar, should it occur in Colorado, expects to create 97 net new jobs at an average annual wage of $143,012, which is 126.3% of the average annual wage in Broomfield County (the county with the highest AAW in Colorado). The jobs will include C Suite, Warehouse Employees, Engineers and Administrators. The company currently has 203 employees, none of whom are in Colorado.
Incentive
Up to $1,223,764 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 $113,204 (100% of Broomfield County, which has the highest AAW in Colorado) 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 the economy and supporting the supply chain of key priority industries.