A space resources startup, Karman+, selected Denver for its headquarters to relocate from the Netherlands, according to a news release.

The Polis administration and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) made the announcement Wednesday. The company also considered the United Kingdom and Luxembourg as potential locations for its headquarters. The Colorado Economic Development Commission approved “up to $1,287,128 in performance-based Job Growth Incentive Tax Credits over an eight-year period” to the company when it was under the pseudonym Project Cobalt, according to the release.

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Karman+ will move next month and is actively hiring according to the release, although only one job is currently posted on the company’s website. The company plans to create 150 new jobs at an average annual wage of $110,620, which is 147% higher than the average annual wage in Denver County, according to the release. Currently there are eight employees, none of whom live in Colorado.

“As Colorado’s technology and aerospace industries continue to boom, we are thrilled to welcome innovative companies like Karman+ to Denver, one mile closer to space,” Gov. Polis said in the release. “This exciting move will bring 150 new good-paying jobs to Colorado as we continue to work to change the future of space exploration and sustainable energy.”

Karman+ works to mine near-earth asteroids for mineral resources that are carbon neutral and sustainable, according to the release. The first development stage focuses on mining for water. The tailings from mining will create a basis for building space-based solar power systems that can supply power both in space and on Earth in the form of non-intermittent sustainable electricity.

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“The ability to extract and utilize space resources is essential for creating a sustainable space economy and can also help us achieve sustainable development goals here on Earth,” Michael Gass, Colorado Space Coalition co-chair and retired president and chief executive officer of United Launch Alliance, said in the release.

Karman+ will be well connected in Colorado regarding state and national regulations to advance in the development of space resources, according to the release. There is now also a potential to collaborate with higher education institutions.

“Our goals are daring, and we like that,” Daynan Crull, co-founder of Karman+, said in the release. “The State, the Metro Denver Economic Development Commission and the City of Denver have been very inviting, and we look forward to forming new partnerships that will propel us toward success.”

Raymond H. Gonzales, President of the Denver Metro Chamber of Commerce and Executive Vice President of the Metro Denver Economic Development Corporation, said in the release that this is another addition to Colorado that supports the state as a leader in the aerospace industry.

“The company has all the ingredients they need for growth and success here: outstanding access to talent, customers and a collaborative aerospace community that’s second to none,” Gonzales said.