Beehive Industries has received approval for a $4.23 million performance-based Job Growth Incentive Tax Credit from the Colorado Economic Development Commission to support a major expansion of its additively manufactured jet engine operations.
The company chose Colorado for its next major growth stage and plans to establish a Production Assembly & Test Center of Excellence while expanding operations at its Centennial headquarters and a second location in unincorporated Arapahoe County.
Beehive expects the expansion to create 220 jobs, primarily in advanced engineering and manufacturing.
The projected average annual salary for the new positions is $151,073.
Because the incentive is performance-based, the tax credit is tied to actual job creation and specific economic milestones.
With state approval secured, Beehive can move forward with real estate, recruitment and operational plans.
Beehive specializes in designing and developing additively manufactured jet engines for uncrewed aerial defense applications.
The company uses advanced 3D-printing techniques to produce propulsion systems with a focus on manufacturing speed, affordability and scalability.
KEY QUOTE:
“This support marks an exciting milestone for our organization 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.”
Gordie Follin, Chief Product Officer Of Beehive Industries
