Beehive Industries secures $4.2M tax credit for Colorado manufacturing expansion
Beehive Industries, based in Denver, Colorado, USA, has announced that the Colorado Economic Development Commission (EDC), operating under the Office of Economic Development & International Trade (OEDIT), has approved a $4,227,929 performance-based Job Growth Incentive Tax Credit award for the company.
Beehive selected Colorado for its next major phase of growth, expanding the company’s local operations as its designated Center of Excellence (COE) for Production Assembly & Test operations. Beehive plans to create jobs at both its existing Centennial headquarters and a second facility in unincorporated Arapahoe County.
The performance-based award is tied directly to actual job creation and specific economic milestones, a structure intended to ensure mutual benefit for the company and the local community. Over the coming years, the project is projected to create 220 new jobs, primarily focused on advanced engineering and manufacturing roles, with a projected average annual salary of $151,073.
“We are incredibly grateful to the Colorado Economic Development Commission and the Office of Economic Development and International Trade for their partnership and confidence in Beehive,” said Gordie Follin, Chief Product Officer at Beehive Industries. “This support marks an exciting milestone for our organisation and validates our vision for future growth. We look forward to deepening our roots in Colorado, creating meaningful employment opportunities, and contributing to the state’s economic momentum.”
With state approval officially secured, Beehive is cleared to advance its real estate, operational, and recruitment plans immediately.
