$2 Million in Job Growth Incentives Approved for Aerospace Expansion in El Paso County
El Paso County's Economic Development Corporation has approved nearly $2 million in job growth incentives for an unnamed aerospace company, referred to as Project Oak, which aims to expand its Department of Defense operations in the area and create 150 new jobs. The company, currently employing 158 people, plans to hire engineers, technicians, and managers with average salaries of around $86,000, benefiting from El Paso County's higher wage rates compared to Elbert County. The company has eight years to meet the job creation requirements to access the incentives.
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An unnamed aerospace company, referred to as Project Oak, is considering expanding its Department of Defense operations into El Paso County, potentially adding 150 jobs. The El Paso County Economic Development Corporation approved nearly $2 million in incentives for job growth.
The company currently employs 158 people and would focus on hiring engineers, technicians, and various managerial roles, with average salaries around $86,000. The decision is based on El Paso County's higher average wage compared to Elbert County.
The company has eight years to meet job creation requirements to access the incentives. Other projects discussed included Project Cedar and Project Electron, which received incentives for job growth in different sectors.
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