The following projects were approved at the November 2025 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: Cobalt
Summary
The company behind Project Cobalt is a mechanical contracting and systems engineering company that is looking to establish a new fabrication facility to support their growing business. In addition to Colorado, the company is considering Peoria, Arizona. Within Colorado, the company is considering Monument in El Paso county.
Jobs
Project Cobalt, should it occur in Colorado, expects to create 135 net new jobs at an average annual wage of $87,037, which is 133% of the average annual wage in El Paso County. The jobs will include project managers, engineers, and operations. The company currently has over 6,500 employees, 285 of whom are in Colorado.
Incentive
Up to $453,000 in a performance-based Strategic Fund incentive over a 5-year period, 60 months, is requested from the EDC at $3,356 per net new job. 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 135 net new permanent full-time jobs at a minimum average annual wage (AAW) of $71,872 (110% of the El Paso County average annual wage).
- Or a payout of $3,000/NNJ for the creation of up to 135 net new jobs if the average annual wage is at least $65,338 (100% of the El Paso County average annual wage at the end of the 5-year term).
- The maintenance of the net new jobs in Colorado for one full year before any grant payments are made.
- Standard Match Statement: A $1:$1 local match of incentives by the local organization and/or grants from other community partners that match the payout and term structure of the OEDIT incentives and will not result in the possibility of a clawback by the community partners and an undermatch of OEDIT’s payouts.
- Staff recommended that the commission approve this project for a 10 year local match payout. Which is a deviation from the standard policy of requiring a 5 year local match term that keeps pace with the state’s incentive.
Consideration
As the local community’s Strategic Fund match, the Town of Monument has offered economic development incentives to the company for creating and maintaining new permanent jobs in the County: $243,000 in property tax rebates and $210,000 in use tax rebates. This match will be paid out over a ten year period, which is five years longer than previously approved and executed awards, per the commission’s approved local match policy. For this project, OEDIT staff recommended the commission amend the policy in this case, as this is a smaller community that has not previously participated in state recruitment activities.
This new fabrication facility would strengthen Colorado’s supply chain by sourcing more materials locally, supporting statewide construction projects, and reducing lead times, costs, and emissions. Additionally, the project would create high paying and high quality jobs in the Town of Monument, strengthen the town's manufacturing sector, and stimulate broader economic growth through increased demand for local suppliers, contractors, and service providers.
Project Name: Coils
Summary
The company behind Project Coils is a manufacturer for the global automotive market. This project represents the company’s plan to onshore part of their production and add a new manufacturing line. In addition to Colorado, the company is considering Missouri and Kentucky. Within Colorado, the company is considering Mesa County. Important factors for their decision are a positive business climate, state incentives, and the access to talent.
Jobs
Project Coils, should it occur in Colorado, expects to create 50 net new jobs at an average annual wage of $67,120, which is 119% of the average annual wage in Mesa County. The jobs will include general managers, engineers, and production operators. The company currently has 320 employees.
Incentive
Up to $767,735 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 50 net new full-time jobs at a minimum average annual wage (AAW) of $56,524 (100% of Mesa 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 good paying jobs in the economy and support Colorado’s manufacturing sector.
Project Name: Neptune
Summary
The company behind Project Neptune is a financing start up that invests in the U.S. mining sector. This project represents the company’s search for their headquarters. In addition to Colorado, the company is considering Nevada and Florida. Within Colorado, the company is considering the Metro Denver region. Important decision factors are state incentives, access to talent, and a favorable tax environment.
Jobs
Project Neptune, should it occur in Colorado, expects to create 29 net new jobs at an average annual wage of $234,414 which is 213% of the average annual wage in Broomfield County, which is the county with the highest annual average wage in Colorado and used as a placeholder while the company is still considering the whole Metro Denver region. The jobs will include c-level executives, engineers, and legal assistants. The company currently has 2 employees, none of whom are in Colorado.
Incentive
Up to $373,918 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 29 net new full-time jobs at a minimum average annual wage (AAW) of $110,266 (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
The company’s operations would create high-value jobs in finance, engineering, compliance, and management, while supporting local service providers in law, accounting, logistics, and environmental engineering. By financing U.S. mining projects, it would bring significant capital into Colorado, strengthening the state’s role as a hub for responsible resource finance.
Project Name: Sweet Summit
Summary
The company behind Project Sweet Summit is a Customer Relationship Management solution for the advanced manufacturing, distribution, and several other industries.
Project Sweet Summit represents the company's efforts to shift from a primarily remote workforce HQ’ed in California to an office-centered model. In addition to Colorado, the company is considering Chicago, the Bay Area, and Raleigh. Within Colorado, the company is considering Metro Denver, but is focused on Denver. We are working with the Metro Denver Chamber and EDC for this project. Quality of life and access to talent are the company’s primary drivers for this decision.
Jobs
Project Sweet Summit, should it occur in Colorado, expects to create 173 net new jobs at an average annual wage of $140,295, which is 144% of the average annual wage in Denver County. The jobs will include Sales and Marketing, Software Engineers, Customer Success and Support roles. The company currently has 520 employees, 27 of whom are in Colorado.
Incentive
Up to $2,106,009 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 173 net new full-time jobs at a minimum average annual wage (AAW) of $97,227 (100% of Denver 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 in the Tech and IT sector, giving further evidence to our position as a major Tech hub in the United States. This would be a significant signal of support for companies choosing Colorado for workforce transitions and Headquarters.