Company’s odd request appears not bridge too far

When companies ask for economicdevelopment incentives, they usually want a tax break or help with expenses such as relocating and employee training.

But in one of the more unusual requests to come before the Colorado Economic Development Commission, a global technology company, using the code name Project 5760, asked for state funds to help build a $10 million pedestrian bridge.

The bridge would make it easier for employees to reach the Regional Transportation District’s Dry Creek Station, which in turn should help the company recruit workers in an ultra-tight labor market.

The commission Thursday approved the request for $4.55 million from the state’s strategic fund, but not without a debate.

To receive the funds, the public company, which is also considering locating the jobs in Nevada, must add 1,300 new jobs to the 2,000 it already has in the state. The new jobs, which include positions in accounting, finance, human resources, sales and technology, will pay an average annual wage of $79,150.

The City of Centennial and the Southeast Public Improvement Metro-

politan District are committing another $5 million, meeting a requirement that local governments match any state strategic-fund awards.

The company will front the local government share of bridge costs and take repayment over time.

But the size of the ask left commission members Tara Marshall and Denise Brown uneasy, given that the fund only has $4.8 million available and the next allotment, typically $5 million a year depending on legislative approval, isn’t coming until July 1.

“It is so much larger than what we normally see as a request,” Marshall said.

Jeff Kraft, director of business funding and incentives with the Colorado Office of Economic Development, estimated about $3 million in strategic-fund requests are pending.

“We couldn’t do the remaining pipeline,” he said.

Marshall made a motion to lower the amount to $3.25 million. But Centennial officials warned that short-changing the request could scuttle the bridge project and the jobs riding on it.

Commissioner Tom Clark said he found it extraordinary that a company would use its incentives to build a public bridge.

But he added that Centennial has long struggled with a “last-mile problem” of getting commuting workers to corporate campuses.

Kraft also noted that the strategic fund still had $9.5 million set aside for a single big-scale project that the commission could unencumber and tap if needed.

After a motion to provide only $3.25 million failed to pass on a tied vote, a second motion to approve the full request passed, with Marshall and Brown opposed.

Among the companies located in the vicinity of the Dry Creek station are Comcast Business, Arrow Electronics, United Launch Alliance and Engineering Test Labs.

Comcast spokeswoman Leslie Oliver said the cable company isn’t behind the ask, but it supports the bridge.

“We think investments like this in the area make it an even greater place to work for our employees,” Oliver said.