The Colorado Economic Development Commission approved an incentive package worth up to $23.1 million aimed at recruiting a wind turbine company looking at multiple states, including Pueblo in Colorado, for the site of its next production hub. It could mean more than 2,300 new jobs to the area.

Commissioners voted unanimously on Thursday to offer the company up to $18.5 million in Job Growth Incentive Tax Credits and $4.6 million from its strategic fund – which offers cash incentives to companies weighing Colorado against other states.

“We’re just excited about this project,” said Jeff Shaw, CEO of the Pueblo Economic Development Corporation, at the Commission’s meeting Thursday.

The Pueblo Economic Development Corporation, the city of Pueblo, Pueblo County and the Pueblo Urban Enterprise Zone are expected to provide at least $16.5 million in local incentives, abatements and grants, according to an EDC memo. Shaw clarified local incentives would likely exceed $20 million because the estimate provided to the EDC was based on a lower job creation estimate.

The company is a global leader in wind turbine blade production, according to the Commission’s summary. It specializes in blade development, manufacturing, service and logistics. It operates production facilities near major wind energy markets, more than 10 production facilities and several “technology hubs” on four continents. As is routine for incentive projects, the EDC is tight-lipped about providing further details that could identify the company.

Incentive packages approved by the EDC, part of the Colorado Office of Economic Development and International Trade, are meant to attract companies considering Colorado among other states as future sites for operation. The company discussed on Thursday is also eyeing Texas and North Dakota.

The company would operate a blade manufacturing facility in Pueblo for an anticipated 20 years, if not longer.

The new plant would bring an estimated 2,308 new jobs to the area with an average annual wage of $59,601. That is 117% of the average annual wage in Pueblo County, according to the EDC. None of the company’s 610 employees currently work in Colorado.

The company – using the code name Project Danish – would build a warehouse, an administrative building, two workshops used in blade production and a training facility for employees. The project would also involve construction of a waste management system for waste produced at the plant.

The tax credit incentives would be contingent on the creation of 2,308 new jobs offering a minimum wage of $50,921, the average annual wage in Pueblo County, or the average wage of whichever county the company chose if it moved somewhere in Colorado other than Pueblo.

The Job Growth Incentive Tax Credit program provides tax credits to businesses considering multi-state expansion or relocation projects to expand, or locate, in Colorado. If a company does not create the number of jobs or the level of wages agreed on in the incentive package, it does not receive the credit.

The strategic fund incentives would be contingent on the creation of 1,154 new full-time positions with an annual age of $56,013, which is 110% of the county’s annual wage. The cash incentive equates to $4,000 for each job created over a five-year period.

Commissioners praised the project as an impressive opportunity for Pueblo before unanimously approving the incentive deal.