The Colorado Economic Development Commission on Thursday approved a total of up to roughly $13.3 million in job growth tax incentives for four companies considering expanding in the state.

Commissioners approved up to $1.73 million in performance-based job growth tax incentive credits over a period of eight years to a manufacturer that produces custom parts, sheet metal and assemblies for aerospace and industrial clients.

The unnamed company, referred to as Project Bold, is considering expanding in El Paso County. Access to workforce talent, supply chain considerations, quality of life and incentives are factors in the company’s consideration, a project summary states.  

The EDC often assigns code names to protect companies’ confidentiality throughout the competitive process of attracting business in Colorado.

“As a result of substantial new contracts with an aerospace prime,” meeting documents said, the company is seeking to develop a new 110,000-square-foot facility “occupied by a series of hard-to-move production lines, with associated hiring.”

Total associated capital investment is expected to be more than $45 million across three phases, state economic development officials said.

The project would create 133 net jobs at an average yearly salary of $73,032.74, which is 107% of El Paso County’s average annual wage.

Jobs will include manufacturing technicians, operators, engineers and supervisors.

The company currently has 70 employees, all in Colorado.

It too is considering expanding in Ohio because of the “substantial Ohio presence of the contracting aerospace prime,” meeting documents said.

The EDC also approved up to $2.5 million in incentives for Project Cobra, an unnamed precision electronics company that designs and manufactures pyrotechnic and energetic products for industries like aviation, aerospace and defense.

The company will commission a new manufacturing facility and is considering Pueblo County, state officials said.

Economic development partners in Pueblo County — including the 23,000-acre PuebloPlex, a hub for manufacturing, logistics, aerospace, defense and technology — strongly support the project, state economic development officials said. PuebloPlex has provided a possible site for the company’s expansion.

The project would create 154 jobs at an average salary of $57,168.83 a year, or 100.5% of Pueblo County’s average annual wage. Jobs include engineers, maintenance workers and health and safety professionals.

“This is the type of opportunity that strongly aligns with the Pueblo County workforce, our history and long-term economic goals,” Shannon Baker, the prospect coordinator for Pueblo Economic Development Corp., told commissioners ahead of their vote.

Pueblo’s deep manufacturing heritage “creates an excellent growth opportunity,” while the company’s investment and job creation “will have meaningful, long-term impacts for Pueblo County and Southern Colorado,” she said.

The project would support some of Colorado’s largest industries, and, “with the consideration of PuebloPlex as a possible site, this project has the potential to catalyze a significant economic asset in Pueblo County,” meeting documents state.

The company has 867 employees, none of whom are in Colorado.

It is considering Colorado for its strong talent and the overall cost of doing business, according to meeting documents. It is also considering Arkansas and Alabama for expansion.

The commission approved the largest incentive package, totaling up to about $8.1 million, for Project Onshore. It’s an aerospace logistics company that uses proprietary propulsion technology for payload delivery, officials said.

The company plans to establish its headquarters, advanced manufacturing and integrated testing operations.

It is considering Boulder County for expansion, as well as New Mexico and Texas.

Project Onshore will create 460 direct high-tech jobs at an average annual wage of $149,960, which is 153% of the average yearly wage in Boulder County. Jobs will include engineering, executive, manufacturing, operations, strategy and finance roles.

The project would additionally create more than 500 indirect jobs, generate more than $70 million in local contracts, and will have an anticipated $300 million long-term economic impact, documents say.

Should it select Colorado, the company intends to explore partnerships with state universities and technical schools to build a sustained workforce pipeline.

The company has 23 employees currently, with all but one in Colorado.

Commissioners approved up to roughly $943,000 for Project Tatra, a major manufacturer and distributor of plumbing, HVAC and related appliances.

The company seeks to construct a new facility where it can fabricate pipe, fittings, lined products and other components up to industrial, mechanical and fire-protection specifications. The products will enter the company’s nationwide distribution system and serve customers across the country, meeting documents said.

The company is considering Adams County for expansion, as well as Ohio and Arizona. Incentives, workforce talent, quality of life, supply chain considerations and the concentration of industry partners and markets are contributing factors.

It will create 70 jobs at an annual average wage of $77,061, officials said. This is 103% of Adam’s County’s average annual wage. Jobs will primarily include fabricator roles as well as supervisory and project management jobs.

The company currently has 3,500 employees, with 648 in Colorado.

To receive the tax credits, the companies must each meet job creation and maintenance requirements over eight years.