Mystery manufacturing company offered $6M in incentives to expand in Boulder County

DENVER — The Colorado Economic Development Commission approved the offer of a tax incentive package worth nearly $6 million dollars to entice an unidentified Boulder County advanced manufacturing company to expand in its own backyard.

As a result of “business growth,” the company, referred to only as Project Bobcat, aims “to expand operations out of its current facility in Colorado,” according to a memo from the Colorado Office of Economic Development and International Trade. “They are currently in the process of looking for a new building inside and outside of Colorado. In addition to Colorado, the company is considering Pennsylvania.”

It is the commission’s practice not to identify companies that OEDIT is recruiting until incentives are accepted.

“We have gone to significant lengths to keep this company confidential,” OEDIT senior business development manager Mike Landes said. 

Beyond the state incentives extended to Project Bobcat by the EDC, OEDIT documents show that an unidentified Boulder County municipality has offered “$397,315 in rebates for development fees, business personal property taxes, sales taxes, internet and annual recreation center passes.” BizWest is unaware of any local government body in Boulder County approving such an offer. 

In exchange for the state tax breaks — $5,581,873 in Job Growth Incentive Tax Credits over an eight-year period and $397,315 in Strategic Fund incentives over a five-year period — Project Bobcat would pledge to create 314 net new jobs at an average annual wage of $97,493.

Additionally, should Project Bobcat opt to expand in Boulder County, 101 existing jobs would be retained in Colorado.

The EDC on Tuesday also approved more than $1.9 million in incentives for Project Skyhawk which, according to OEDIT, “develops micro-satellite systems and infrastructure providing turn-key systems designed for applications including earth observation, and communications.”

The company is considering moving its headquarters from Santa Clara, California and is considering the Denver metropolitan area, which includes Boulder and Broomfield counties.