March 2024: EDC Approved Job Growth Incentive Tax Credit and Strategic Fund Projects

The following project was approved at the March 2024 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 this kind of project 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.



The company behind Project Airborne is an aerospace company that manufactures systems for helicopters. Due to the nature of the company, further identification would jeopardize the company’s confidentiality. Project Airborne represents the company’s evaluation of locations to consolidate its existing headquarters in Colorado and accommodate a major expansion of its production activities, including R&D, back-office, and production operations. In addition to Colorado, the company is considering Jacksonville, Florida, Toronto, Canada, and San Antonia, Texas. Within Colorado, the company is considering Jefferson County and Adams County. Access to talent as well as incentives are important decision makers for the company.


Project Airborne, should it occur in Colorado, expects to create 592 net new jobs at an average annual wage of $103,584, which is 139% of the average annual wage in Jefferson County and 148% in Adams county respectively.  The jobs will include production as well as non-production workers. The company currently has 125 employees, of whom 74 are in Colorado.


Up to $5,456,368 in performance-based Job Growth Incentive Tax Credits over an 8-year period, 96 months, is requested from the EDC. 

This incentive is contingent upon:

  • The creation of up to 592 net new full-time jobs at a minimum average annual wage (AAW) of $69,914 (100% of Adams 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.
  • Before any credits are issued, the company must create and maintain at least 20 net new full-time jobs.


This project would retain the company’s headquarters and 74 employees in one of Colorado’s strongest industries as well as adding 592 jobs, and support the state’s economic goals by bolstering the aerospace industry. Additionally, their products are well known in the military and emergency sector and provide a valuable solution for existing customers in Colorado.