Colorado Politics

Colorado OKs nearly $9 million in incentives to lure companies

Colorado’s Office of Economic Development and International Trade on Thursday approved $8.9 million in job creation tax credit incentives to three companies if they locate or expand in Colorado.

The companies, two of which won’t be named by the office until they agree to the move or expansion, range from an Australian fintech company to a bioscience firm. If all three agree, the incentives could create up to 533 new jobs in the state.

Australian fintech company Finder “provides its users with an app-based financial comparison tool for making decisions about personal purchases,” according to the office. It now has 10 million users.

Finder is looking to launch the app in the U.S. market. It’s looking at metro Denver for its American headquarters.

“Access to the talent required to launch their product and continue to grow is the primary location driver,” according to the project summary.

It currently has 450 employees, including three in Colorado. It’s looking to create up to 198 new full-time positions for product managers, software engineers and application developers. The average annual salary for those positions is $84,222. Up to $2,296,136 in performance-based (credits are only issued after the jobs are created) Job Growth Incentive Tax Credits were approved.

“Project Sunset” is the code name for a technology company that “provides small and medium-sized businesses with app-based businesses-to-business payment tools.” It’s location determination will be based on “access to a large and diverse talent pool.”

“Project Fish” is the code name for a bioscience company which is a subsidiary of a “publicly-traded, Fortune 500 conglomerate.” It wants to expand its bioscience manufacturing and research and development capabilities at a northern Colorado location.

The company now has about 150 employees in Colorado, of its “several thousand employees elsewhere in the U.S.” The expansion could create up to 85 new jobs with an average wage of $75,000 for engineers, scientists and managers. The office approved up to $1,027,204 in job-growth tax credits.

Piggy bank With a Dollar Currency Money Carrot stick
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