Colorado, Wyoming Ready for Biotech Jobs Boost with Potential Expansions
Friday, August 23, 2019
The American West could see some significant growth in the number of biotech jobs as companies are eying at least two states for expansions.
While the information available so far is vague as to which company may be behind the plan, Boulder, Colo. could see the addition of up to 1,000 biotech-related jobs. Last week, the Colorado Economic Development Commission agreed to provide a “Fortune 500 Company” up to $24.8 million in tax incentives to entice that company into making a capital investment in the area valued at $150 million. According to the Denver Business Journal, the company that is being wooed was not named. The attempt to bring up to 1,000 well-paying jobs to the city has been dubbed “Project Charlie Brown” by the commission, the Journal reported. While the company’s name was not disclosed by the EDC, the Journal noted that this company already has a presence in the state with four locations in Colorado. This potential project would likely be a centralized location that consolidates some of the other facilities. However, the potential 1,000 jobs that could be created would have to be new jobs in order to receive the EDC’s approved incentives. The new jobs would have an average salary of $136,721, more than twice the average wage of Boulder County, the Journal said.