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City staff recommends 4-year EDA for Project Short Circuit; presentation details jobs, rebates and net revenue
Summary
Economic development officer presented a proposed four‑year economic development agreement (EDA) for Project Short Circuit that would offer sales and use tax rebates tied to machinery, equipment and construction spending; staff projected about 70 jobs over eight years and net new city revenue after incentives.
Jesse Kimber, the City of Colorado Springs economic development officer, presented a proposed economic development agreement (EDA) for a prospect identified in staff materials as Project Short Circuit and recommended a four‑year agreement with performance‑based tax rebates.
The issue matters because staff said the EDA would enable a primary employer — defined as a company with at least 51% of revenue drawn from outside El Paso County — to expand in the city while receiving conditional rebates tied to capital expenditure and job creation.
Kimber said Project…
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