Business-friendly legislation and policy helps expand small satellite industry in Colorado
Stakeholders to promote opportunities in burgeoning aerospace sector at premier industry conference
LOGAN, UTAH – August 7, 2017 – Colorado’s emergence in the small satellite industry will take center stage this week at the industry’s premier conference and exhibition—the 31st Annual Conference on Small Satellites, through Aug. 10. The Colorado Space Coalition and the Colorado Office of Economic Development and International Trade will jointly tout how Colorado is capitalizing on growth opportunities in this emerging sector.
NASA calls small satellites “the next big thing” in space because the technology is helping to foster creative and cost-effective approaches to studying our planet.
With the nation’s second-largest space economy, nearly 500 space-related companies, and a highly dynamic atmosphere for business growth, Colorado’s small satellite industry is thriving, say industry leaders.
“Colorado is making it increasingly competitive for satellite companies to do business in the state with incentives and a low corporate income tax,” said Jay Lindell, Aerospace and Defense Industry Champion for the Colorado Office of Economic Development and International Trade. “In fact, satellite-based operations and manufacturing combined are one of the fastest growing sectors of the state’s space economy.”
Business-friendly measures enacted by the state include legislation exempting personal property used in satellite production from sales-and-use tax. Also, Colorado’s progressive single-factor tax apportionment allows companies to pay taxes based only on their sales in the state.
“Colorado is a great place to run a small aerospace company, raise families, and participate in the vibrant economy,” said Stanley O. Kennedy, Jr., President and Co-founder of Oakman Aerospace, Inc. “There is a true sense of community and the state encourages collaboration, cooperation, and partnerships within Colorado, the United States, and abroad.”
The Colorado Space Coalition will also promote the many industry assets that appeal to companies in the emerging small satellite industry, including access to leading contractors and suppliers, vital space military centers, several research universities and federal laboratories, and technical talent.
"Here in Colorado, we’re seeing several factors converge to make it a hotbed for small satellite technology innovation,” said Vicky Lea, Director of Aerospace and Aviation with the Metro Denver EDC. “The size and depth of the state’s aerospace industry, ready access to a highly skilled technical workforce, and an entrepreneurial culture, all combine to drive growth and investment in our small satellite industry."
Visit the Colorado Space Coalition at conference booth No. 191 and learn more about what makes Colorado a hub for small satellite technology and innovation at www.spacecolorado.org.
About the Colorado Space Coalition
The Colorado Space Coalition (CSC) is a group of industry stakeholders working to make Colorado a center of excellence for aerospace. CSC members—including space companies, military leaders, academic organizations, research centers, and economic development groups—promote Colorado's significant space assets as well as advancing legislation vital to industry growth and success. The CSC is an industry affiliate of the Metro Denver Economic Development Corporation. To learn more, see www.spacecolorado.org and #MileCloser.
About the Metro Denver Economic Development Corporation
The Metro Denver EDC is the nation’s first regional economic development organization. An affiliate of the Denver Metro Chamber of Commerce, the Metro Denver EDC focuses on six areas to expand the economy in the nine-county region: national marketing, new and existing business, mobility, DEN/international air travel, tax reform, and special opportunities. The organization also leads four industry-focused affiliates: the Colorado Energy Coalition, the Colorado Investment Services Coalition, the Colorado Space Coalition, and the Metro Denver Aviation Coalition. For more information, see or follow us on Twitter and Facebook.
About the Colorado Office of Economic Development and International Trade
The Colorado Office of Economic Development and International Trade (OEDIT) works with statewide partners to create a positive business climate that encourages dynamic economic development and sustainable job growth. Under the leadership of Gov. John Hickenlooper, it strives to advance the state’s economy through financial and technical assistance in support of local and regional economic development activities throughout Colorado. To learn more, see www.choosecolorado.com.
Media contact: Janet Fritz – Senior Director, Marketing and Technology, Metro Denver Economic Development Corp., 303.620.8039.