The following project was approved at the July 2025 Colorado Economic Development Commission meeting. The Colorado Economic Development Commission (EDC) develops incentive packages to assist with existing business expansions and new company relocations to grow jobs in all regions of the state. They typically meet on the third Thursday of every month.
The incentive requiring approval for these kinds of projects is:
Job Growth Incentive Tax Credit
This award does not guarantee that the company will accept the offer and/or expand or relocate to Colorado.
Project Name: SAM
Summary
The company behind Project SAM is a European telecommunications and weather monitoring satellite company and a lead innovator in the satellite defense and communications realm.
Project SAM represents the company's plan to set up a US subsidiary in order to assemble, integrate, test and commercialize optronic equipment. In addition to Colorado, the company is considering Huntsville, Alabama. Within Colorado, the company is considering the Metro Denver region. The company's primary decision factors include access to talent, pipeline, and partnerships with companies from their HQ location, and cost of doing business.
Jobs
Project SAM, should it occur in Colorado, expects to create 20 net new jobs at an average annual wage of $156,215, which is 142% of the average annual wage in Broomfield County. The jobs will include Site Managers, Engineers, Marketing roles, and Project Managers. The company currently has 470 employees, none of whom are in Colorado.
Incentive
Up to $110,094 in performance-based Job Growth Incentive Tax Credits over an 8-year period, 96 months, is requested from the EDC. The amount of this incentive as recommended above takes into account OEDIT staff’s analysis of the four factors identified in C.R.S. § 39-22-531 (3)(c).
This incentive is contingent upon:
- The creation of up to 20 net new full-time jobs at a minimum average annual wage (AAW) of $110,266 (100% of Broomfield County) or 100% of the AAW of any county in Colorado the company decides to locate over 8 years.
- The maintenance of the net new jobs in Colorado for one full year before any credits become vested.
- The creation and maintenance of at least 20 net new jobs before any credits are issued.
Consideration
This project would support the state’s economic goals by supporting international aerospace leaders in setting up their US presence in Colorado.