A Nevada aerospace company is promising 200 additional jobs for its Colorado operations, taking advantage of a new state tax law designed to encourage business expansion.
Sierra Nevada Corp. said the jobs were part of an expansion of its Centennial offices and an increase in its capital investment in Colorado.
The announcement brings to a half dozen the number of firms that have added hundreds of jobs or relocated here in recent months partly because of tax incentives for the jobs they bring.
The Sparks, Nev.-based company owns three major Colorado aerospace businesses — MicroSat Systems in Littleton, Straight Flight Inc. in Englewood and SpaceDev in Louisville.
It’s unclear what types of jobs will be created or whether they will solely benefit Sierra’s offices near Centennial Airport or be spread among its Colorado operations. Company officials did not return calls Monday seeking comment.
“While the nation’s economy continues to struggle, Colorado is leading the way toward a strong and sustainable recovery because of our focus on innovation, manufacturing and future-oriented industries like aerospace,” Gov. Bill Ritter said in a press release announcing the new jobs. “Sierra Nevada Corp.’s decision . . . reflects the long-term confidence and optimism that defines the Colorado spirit.”
The woman-owned firm specializes in engineering and development of high-tech electronics, communications systems and space technology. The company employs 2,000 people — mostly scientists and engineers — in 20 states.
The announcement comes on the heels of a November report by the Metro Denver Economic Development Corp. that warned that Colorado’s ability to create jobs for its citizens is starting to lag behind surrounding states.
In creating the jobs, Sierra Nevada stands to benefit from a law Ritter signed in May — the Job Growth Incentive Fund — that provides a credit on payroll taxes for each new job created. The state tax credit is applied annually and is equivalent to 3.8 percent of the employee’s salary.
“Two hundred jobs in the south metro area will have a ripple effect that means more income, more buying and more economic development,” said Rep. Joe Rice, who sponsored the legislation.
Other companies to come to Colorado since the law’s passage include RePower USA Corp., DaVita Inc. and SMA Solar Technology.
David Migoya: 303-954-1506 or dmigoya@denverpost.com
