The following projects were approved at the June 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: Falcon II
Summary
The company behind Project Falcon II is an IT, engineering, and cybersecurity solutions provider that supports both commercial and government customers across the U.S. Project Falcon II represents the company's plans to expand its footprint across multiple facilities to allow for exponential growth in support of its IT engineering capabilities, R&D initiatives, next-generation communication and networking devices, cybersecurity tools and solutions, and software development capabilities. In addition to Colorado, the company is considering Henderson, Nevada. Within Colorado, the company is considering El Paso County. The primary considerations are cost of doing business and access to talent.
Jobs
Project Falcon II, should it occur in Colorado, expects to create 500 net new jobs at an average annual wage of $130,482 which is 200% of the average annual wage in El Paso County. The jobs will include Network/Infrastructure Engineers, Software Engineers, Cyber Systems Analysts, Systems Administrators, and Computer Systems Technicians. The company currently has 168 employees, 110 of whom are in Colorado.
Incentive
Up to $4,901,635 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 500 net new full-time jobs at a minimum average annual wage (AAW) of $65,338 (100% of El Paso 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 creating net new jobs in the economy in the aerospace and defense sector.
Project Name: Short Circuit
Summary
The company behind Project Short Circuit is developing electromagnetic warfare solutions that enable disruption of communications and navigation networks of drones and systems.
Project Short Circuit represents the company's plans to open a physical office location in Colorado, Arkansas, or Florida, and establish micro-manufacturing capabilities over the next 3-5 years in the location. Within Colorado, the company is considering El Paso County. Access to talent and the cost of doing business are the primary drivers for their decision.
Jobs
Project Short Circuit, should it occur in Colorado, expects to create 42 net new jobs at an average annual wage of $103,571, which is 159% of the average annual wage in El Paso County. The jobs will include engineers, managers, and accounting roles. The company currently has 3 employees, one of whom are in Colorado.
Incentive
Up to $487,688 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 42 net new full-time jobs at a minimum average annual wage (AAW) of $65,338 (100% of El Paso 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 creating net new jobs in the economy in the aerospace and defense sector.