A Colorado manufacturing company planning to expand its facilities may be in line for up to $1.3 million in tax incentives as the result of a vote by the state’s Economic Development Commission.
That body said it was offering the incentives in return for the company creating 101 new jobs with an average wage of nearly $63,400 over an eight-year period.
The company in question has not yet been publicly identified, and for now is only being referenced as “Project Da Vinci.” But news sources have indicated that the business is most likely Spectrum Advanced Manufacturing Technologies, which is based in Colorado Springs.
That company, which has been an industry leader for more than 25 years, specializes in circuit card assembly and contract manufacturing. It has been a part of a number of National Aeronautics and Space Administration endeavors including the Space Shuttle and Hubble Space Telescope.
The Colorado Economic Development Commission is tasked with putting together incentive packages designed to support existing businesses or attract businesses from other places in moving to the Centennial State.
In a website posting, the commission said it could not officially identify the company in line for the $1.9 million in incentives because “further identification would jeopardize the company’s confidentiality.”
At the same time, the commission said the company’s proposed facility expansion is a result of its taking on “new product lines and services for their clients, as well as growth and development of the company’s clientele and customer base.”
By Garry Boulard
