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Council approves Micron incentive for Longmont MegaLab expansion; company pledges jobs and investment
Summary
The council unanimously approved a performance-based business personal property (BPP) tax rebate capped at $1 million to support Micron’s planned Longmont ‘MegaLab,’ which Micron says will add lab space, support U.S. storage product qualification and create high-wage technical jobs in town.
Longmont City Council voted unanimously on Oct. 28 to approve a performance-based tax incentive for Micron Technology to support the company’s planned expansion of its Longmont design and validation campus, the so-called Longmont MegaLab.
The incentive is a business personal property rebate structured as: 75% rebate of BPP taxes for years 1–4, 50% rebate for years 5–8, capped at $1,000,000 total. The rebate is explicitly tied to actual equipment purchases and to job performance: Micron committed to create at least 20 net new jobs at an average pay of roughly $140,000 and to retain 243 jobs in the site’s core operations for the agreement term. If job or investment targets fall short, the contract scales the rebate downward.
Why it matters: Micron told council it expects to invest at least $212 million in the expansion and that Longmont will house specialized test and data-center-grade lab space for validating solid-state storage products used by cloud and enterprise customers. Micron leaders said the facility supports U.S. technology leadership, high-wage local jobs, and a pipeline of product and workforce development.
What council heard: Kelly Sage of the Longmont Economic Development Partnership and Russ Woodbury, Longmont site director for Micron, presented the project. Woodbury described the site as a long-term product-development anchor that supports cloud and edge storage customers. Councilors asked about regional returns and tax benefit modeling; staff said the ten-year projected tax benefits to taxing entities in the region could be multiple tens of millions of dollars when county and school-district revenues are included.
Outcome: The performance-based incentive passed unanimously. The agreement includes clawbacks and thresholds tied to equipment purchases and job creation. Council and staff framed the package as a way to secure private-sector capital investment and high-wage jobs while preserving the city’s fiscal interests through measurable performance conditions.
Ending: Micron representatives emphasized continued community engagement and philanthropic contributions; council members cited the project as a significant local economic development outcome for Longmont.
