Commerce City OK’s incentives for Arrivo to build futuristic high-speed transit test track
Arrivo expects the project will generate 75 high-paying jobs over next 3 years
The Denver Post
Commerce City leaders on Monday unanimously approved a business incentive package for a Los Angeles-based high-speed transit startup that plans to open a research and development center in the city to test a next-generation road system where autonomous pods would zip along at up 200 mph.
The city’s offer to Arrivo, which plans to open its facility in the next few months just west of Denver International Airport, amounts to tax rebates of $182,500. The rebates come in the form of a 60 percent give-back of sales and use tax on capital investment and a 50 percent rebate of building permit fees over the next three years.
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It’s hard to fight City Hall and even harder to fight well-funded neighbors who don’t want any development near them, a local man has realized. So he settled for less than what he and his partner bought the property for.