Colorado isn't known for giving big tax incentives to companies, but the state could award Inc.'s second headquarters project hundreds of millions of dollars under the rules of its existing tax credit program.

Colorado's main tax incentive used to lure "Amazon HQ2" could add up to at least $458.9 million awarded in tax credits to the Seattle-based retail giant over several years and could top $860 million if the company’s HQ2 campus were to grow fast enough.

The figures are based on the pay scale Amazon predicts at HQ2 and the formula for Colorado’s "Job Growth Incentive Tax Credit" program.

The tax credit is the biggest carrot that the state government has to entice businesses to bring new, high-paying jobs to the state. It diverts some state revenue back to a company in proportion to the number of qualifying jobs the business adds here.

Read more at the Denver Business Journal: