Colorado Real Estate Journal - January 21, 2015
In the largest tax incentive proposal ever approved in Jefferson County, the Board of County Commissioners unanimously voted in favor of a nearly $17 million personal property tax rebate over the next 15 years. The rebate is for Lockheed Martin Space Systems’ expansion at its Waterton Canyon facility, located in Jefferson County. The expansion potentially brings 500 high-paying jobs to the county for Lockheed Martin’s current and future projects, in addition to 350 jobs already transferred from operations in another state. Jefferson County Economic Development Corp. presented the tax incentive and performed an economic impact analysis of the expansion, which is estimated to have a nearly $4.5 billion economic and fiscal benefit to the county over the next 20 years. “Lockheed Martin is one of the largest employers in Jefferson County, providing excellent jobs for Jeffco residents,” commented Faye Griffin, chairman of the Jefferson County Board of Commissioners. “This outstanding company has been a great asset to our community for nearly 60 years. We are very proud of all Lockheed Martin has accomplished and delighted to help facilitate its expansion.”
Jeffco EDC worked collaboratively with Lockheed Martin on its rebate request to exhibit the company’s on-going commitment to Jefferson County. “For nearly 60 years, the men and women of Lockheed Martin have been developing innovative space technologies right here in Jefferson County, including Orion, NASA’s next generation spacecraft designed to take humans to deep space,” said Marshall Case, vice president, infrastructure services at Lockheed Martin Space Systems. “The incentives benefit the county by encouraging job growth, and have a direct impact on helping us grow our business. The savings we achieve through incentives flows back to our customers and taxpayers and allows us to offer more competitive prices, which brings jobs to the county.” “Expansions like this help keep Jefferson County a center for excellence in space. As Lockheed Martin continues to remain an economic driver in the county, it is critical that we support their operations and position the county for future growth with the company,” said Kevin McCasky, Jeffco EDC’s president and CEO.