Astroscale, a Japanese company that is designing a satellite to track, capture and destroy space debris, will locate its U.S. base of operations in metro Denver.
Founded in Singapore in 2013, Astroscale is seeking a U.S. presence to make it more competitive in winning federal contracts. Its technology catches debris and then flings it into the Earth’s atmosphere where it can burn up.
Space debris has become the bane of satellites and spacecraft and is considered a national security concern. The Department of Defense has dedicated $6 billion through 2020 to address the problem.
Local firms working on solutions include Lockheed Martin, which is investing nearly $1 billion to build a protective space fence, and Maxar Technologies, which is working on robotic arms that can repair satellites so they don’t turn into hurling hunks of metal.
Astroscale, applying as Project Capture, received approval for up to $1 million in job growth incentive tax credit awards last month from the Colorado Economic Development Commission. In return, it pledged to bring 54 jobs at an average wage of $108,833.
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The company was looking at Adams, Boulder, Broomfield, Denver or Jefferson counties, but hasn’t made a decision yet, said Jill McGranahan, a spokeswoman with the Colorado Office of Economic Development and International Trade.
The commission also approved four new incentive awards at its monthly meeting on Thursday. A Cleveland company with a proprietary targeted radiation therapy to combat cancer is considering a headquarters relocation to metro Denver that could bring 274 high-paying jobs.
The commission awarded “Project Patriots” $9 million in job-growth-incentive tax credits in return for the creation of those positions, which will include engineers, scientists and clinical workers, and pay an average annual wage of $153,172.
Colorado is also in the running for yet another expanding Bay Area technology company on the heels of landing Checkr, which confirmed on Tuesday that it will bring 1,400 people to Denver starting in July.
Project Wildcat could result in 250 full-time jobs paying an average wage of $100,000. If it does, the company could receive up to $5.7 million in job growth incentive tax credits. Portland, Ore., is also in the running.
A New Zeland company, under the codename Project Gotham, that specializes in crime intelligence software was granted $3.6 million in job growth incentive tax credits in return for 160 new jobs paying an average annual wage of $124,695. Boulder and Broomfield are the lead contenders for the jobs, as well as locations in Texas and Oregon.
Retailers use the company’s software to help report, solve and prevent crimes, especially when the items lost are below investigative costs. The National Retail Federation estimates U.S. retailers lost $46.8 billion to theft or “shrinkage” last year.
