Economy & Economic Development  January 18, 2019

Crocs looks to expand, seeks incentives

DENVER — Three companies are looking for combined incentives of $12 million to expand or start operations in Colorado.

One of those is an apparel company looking to open a new operations center in the Denver metro area, according to the Economic Development Commission. The company — codenamed Project Playa — is seeking $606,272 in performance-based Job Growth Incentive Tax Credits over an eight-year period. It expects to create 81 net new full-time jobs with an average annual wage of $123,358. The company is also considering Ohio and Massachusetts.

The company is like Crocs Inc., reports the Denver Business Journal: Leaders at the commission meeting said it was a publicly-traded apparel company already based in Colorado that had declining assets but was seeing increases in gross profits. They also declined to specify which city the company was based in, saying it would give away the identity. Crocs is based in Niwot.

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The largest incentive request is by “Project Beam,” an American broadcasting company (DBJ reports its likely NBC) seeking $10.2 million in performance-based Job Growth Incentive Tax Credits over an eight-year period. The broadcasting company is looking to relocate a major technology center to manage and distribute hundreds of thousands of hours of programming every year. Colorado is competing with Arizona for the project. Project Beam is expected to add up to 769 net new full-time jobs with an annual average wage of $90,572.

The third project is by the American subsidiary of an Indian IT consulting firm looking to open a new business operations center. “Project Peacock” is expected to create up to 100 net new full-time jobs with an average annual wage of $84,496. The primary job type would be engineers and project managers. The company is seeking $1.7 million in Job Growth Incentive Tax Credits over an eight-year period.

DENVER — Three companies are looking for combined incentives of $12 million to expand or start operations in Colorado.

One of those is an apparel company looking to open a new operations center in the Denver metro area, according to the Economic Development Commission. The company — codenamed Project Playa — is seeking $606,272 in performance-based Job Growth Incentive Tax Credits over an eight-year period. It expects to create 81 net new full-time jobs with an average annual wage of $123,358. The company is also considering Ohio and Massachusetts.

The company is like Crocs Inc., reports…

Lucas High
A Maryland native, Lucas has worked at news agencies from Wyoming to South Carolina before putting roots down in Colorado.
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