Colorado’s aerospace industry ranks third in the nation based on employment, behind California and Florida. But industry players are advocating less regulation and a boost in incentives to help the state remain competitive.
Issues of competitiveness were addressed Wednesday at the Colorado Space Roundup, a gathering of industry stakeholders. The day-long event at the Denver Museum of Nature & Science included representatives from the state’s congressional delegation and Colorado’s leading aerospace companies, including Boeing and Lockheed Martin.
Aerospace officials say stringent export controls are hurting America’s competitiveness overall, but Colorado has additional disadvantages.
“Part of this has nothing to do with economics,” said Tom Clark, executive president of the Metro Denver Economic Development Corp. “It’s political power. Colorado has always had a young delegation.”
States across the nation are increasing incentives to attract businesses. Most of these incentives involve heavy tax credits, sales-tax refunds, issuance of bonds to build new facilities, and grants to foster enterprise and academics.
Texas is encouraging its aerospace industry to be a military hub, while Maryland seeks a similar hold in cybersecurity, an effort to safeguard information technology and computer systems, according to speakers at the event.
Although Colorado has an educated workforce and other strengths, similar business incentives are needed, said Brian Binn, president of military affairs for the Colorado Springs Chamber of Commerce.
Before the economic downturn, Colorado offered more tax credits to businesses, Clark said. Now, states whose constitutions don’t require a balanced budget have an advantage, Clark said.
Rita Wold: 303-954-1488 or rwold@denverpost.com
