DENVER — Colorado continued a string of incentive proposals to manufacturing companies on Thursday in the hopes that three prospects establish their facilities locally.
The state's Economic Development Commission approved a total of $5.4 million in incentives on April 18 to lure a company that produces technology used in communications, a company that builds parts for wind turbines and a company that makes energy storage systems for batteries.
Two of the packages proposed were the state's regular job-growth-based incentives, but one codenamed "Project Eleven" sought a state-matching incentive from the Colorado Office of Economic Development and Trade. That project, for the manufacturer of sodium-ion battery energy storage systems, secured just over $1 million in incentives from Commerce City and sought a match from OEDIT's Strategic Fund.
A representative of the company named Landon Mossburg told commissioners that because the company is a startup and does not expect to be profitable in the near term, it elected to seek incentives that were not tied to a tax credit.
Mossburg is also the name of the CEO and co-founder of Denver-based Peak Energy, a greentech startup that launched from stealth mode last year with a $10 million funding round, according to a news release.
> Read the full article at the Denver Business Journal.
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