DENVER — The Colorado Economic Development Commission approved a modest incentives package Thursday aimed at luring an unnamed foreign telecommunications company to the Denver region.
The mystery company, referred to by staff with the Colorado Office of Economic Development and International Trade staff as Project Sam, “is a European telecommunications and weather monitoring satellite company and a lead innovator in the satellite defense and communications realm” that plans “to set up a U.S. subsidiary in order to assemble, integrate, test and commercialize optronic equipment,” according to an OEDIT memo.
It is the commission’s practice not to identify companies OEDIT is recruiting until incentives are accepted.
Project Sam is considering both the Denver metro — which includes Boulder and Broomfield counties, opening the possibility that the company could establish its U.S. presence in the Boulder Valley — and Huntsville, Alabama, another region with a strong aerospace industry.
“The company’s primary decision factors include access to talent, pipeline, and partnerships with companies from their HQ location, and cost of doing business,” according to OEDIT.
To entice project Sam to Colorado, the EDC has extended an offer of up to $110,094 in tax breaks over eight years.
To receive that full amount, the company would be expected to create 20 new jobs that pay an average annual wage of $156,215. Project Sam currently has 470 employees, none of whom are in Colorado, according to OEDIT.
Michelle Hadwiger, director of global business development for OEDIT, told the EDC that “staff has concluded that the company is net-revenue positive and that the financial review supports their potential to create the 20 net new jobs.”
When asked by an Economic Development Commission member whether the company behind Project Sam operates in the quantum technology space, OEDIT staff told the commission that the firm does not at the moment, but could expand into that sector if and when it puts down roots in Colorado.
This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2025 BizWest Media LLC.
Hence then, the article about european telecoms weather monitoring firm could establish colorado subsidiary was published today ( ) and is available on GreeleyTribune ( Saudi Arabia ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( European telecoms, weather-monitoring firm could establish Colorado subsidiary )
Also on site :
- Chicago Bears Inactives: Darnell Wright, DJ Moore, and Nahshon Wright Are ACTIVE for Sunday Night Football
- Taking the North, DVOA Stock Watch, DJ the Trend Setter, Important Games Before SNF, and Other Bears Bullets
- EFL manager sacked just one year into mammoth five-and-a-half-year contract