Mystery manufacturing company offered $4.2M in incentives for Boulder County project

DENVER — The Colorado Economic Development Commission approved the offer Thursday of a tax incentive package worth more than $4.2 million dollars to entice an unidentified manufacturing company to expand in Boulder County.

The company, referred to by Colorado Office of Economic Development and International Trade staff and documents as Project Atlantis, is “evaluating locations to consolidate and grow their U.S. operations,” according to an EDC memo.

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

“Project Atlantis is a manufacturing company in Colorado,” the EDC memo said. “Due to the nature of the company, further identification would jeopardize the company’s confidentiality.”

The company has 165 employees, 130 of whom are in Colorado.

In addition to Boulder County, Project Atlantis is considering Georgia, North Carolina and Texas for its expansion effort. 

“Important factors for their decision are incentives, access to talent, tax environment, and existing supply chain partners in Colorado,” OEDIT senior business development manager Mike Landes said. 

The EDC is offering the unidentified company $4,220,840 in tax credits over eight years.

To receive the full tax benefit, Project Atlantis would pledge to create 255 new jobs at an average annual wage of $129,711. New positions would include operators, data engineers and sales personnel.

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