Colorado Economic Development Commission members offered $12.7 million to Lockheed Martin (NYSE: LMT) and $20.3 million to an unnamed software company Thursday in an effort to bring more than 1,500 high-paying jobs to the Denver metro area.
Though multi-million-dollar incentive offerings have become more common in recent years, Thursday’s actions represent some of the largest concerted efforts by state leaders to prop up high-tech industries. The EDC is a governor-appointed board that oversees monetary incentives from the Colorado Office of Economic Development and International Trade.
The companies have no timeline on whether to accept or reject the incentives, but they will not receive any money until they create the jobs and have an employee in those positions for at least one year.
In the case of Lockheed, one of the nation’s largest aerospace firms, those new jobs number 550 at an average annual wage of $118,617, a pay level that is more than twice the average salary of Jefferson County, where the company would look to add positions.
Read more at the Denver Business Journal: http://bizj.us/1p59tx
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