Colorado Politics

Colorado could offer up to $25M to draw 1,000 biotech jobs

The Colorado Economic Development Commission agreed Thursday to offer up to $24.8 million in tax incentives in hopes of persuading a company to open a campus in Boulder County and create 1,000 well-paid jobs.

The Denver Business Journal’s Ed Sealover reports that the company was not identified, as is typical when the commission offers incentives, but was described as a Fortune 500 bioscience company.

The company already operates at four sites in Colorado, but if it accepts Colorado’s tax credit offer, along with local incentives, it would consolidate in Boulder County and add jobs — at an average salary of $136,721 — that don’t already exist in the state, the DBJ said.

As is the commission’s wont, the incentives offer has a code name: “Project Charlie Brown.”

BizWest says the company potentially could invest $130 million in the Boulder County project. It also is considering sites in Minnesota, Tennessee and Texas.

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