Business-Friendly Legislation And Policy Helps Expand Small Satellite Industry In Colorado

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.”