The Colorado Economic Development Commission on Thursday approved an application from a provider of oil-field equipment and services for up to $2.2 million in state tax credits in return for creating 249 jobs over a five-year period.
The U.S. subsidiary of PTI Group Inc., a Canadian company best known for building camps and providing services to workers in remote locations, is seeking the credits as it weighs whether to locate a manufacturing plant in Johns town.
“The company is still doing its due diligence,” said Alice Kotrlik, the state’s deputy director of economic development.
Kotrlik emphasized that an approval from the commission doesn’t mean PTI will actually bring the proposed jobs to the state.
PTI officials did not respond to interview requests Thursday.
Under the 2-year-old Job Growth Incentive Tax Credit, employers who add 20 or more jobs paying 110 percent of the median county wage are eligible to receive a state tax credit. Those jobs must involve a relocation or new project that might have gone to another state.
PTI is the 12th company to win approval under the program. The two largest requests to date were made by Arrow Electronics at 1,250 jobs and DaVita at 500.
PTI Group is a subsidiary of Houston-based Oil States International, a publicly traded oilfield-services company.
Aldo Svaldi: 303-954-1410, asvaldi@denverpost.com or
