Longmont council advances Micron incentive amendment; approval pending
The proposed amendment would extend Micron’s hiring deadlines through 2026 and 2027 while preserving eligibility for an estimated $813,273 in property-tax rebates.
Longmont City Council advanced an amendment to Micron Technology’s economic-incentive agreement July 28 but did not give final approval. The proposed change would extend the company’s hiring deadlines while preserving eligibility for an estimated $813,273 in business personal property tax rebates.
Ordinance O-2026-45 was introduced on first reading through the consent agenda. The city council agenda schedules a second reading and public hearing for Aug. 11, 2026. The amendment cannot take effect until the council approves the ordinance and the parties execute the agreement in writing.
Under the proposed amendment, Micron would have until Dec. 31, 2026, to hire at least 10 net new full-time employees with an average annual salary of at least $140,000. It would have until Dec. 31, 2027, to hire 10 more net new full-time employees at the same salary threshold, according to the city’s council packet and proposed amendment.
The agreement also requires Micron to retain its 243 existing employees when the agreement takes effect and the 20 net new employees through the incentive period, which ends with the final rebate payment. The staff report says Micron requested the extension to have the full 2026 calendar year to reach the first hiring ramp and had indicated it already exceeded the first 10-hire target during 2026. The project is described as involving about $73 million in construction and $139 million in machinery and equipment purchases.
The rebate structure remains eight years: 75% of business personal property taxes in years one through four and 50% in years five through eight. The estimated rebate is subject to actual taxes paid and a $1 million cap. If Micron falls short of its employment requirements, the rebate is reduced proportionately; prior overpayments are deducted from future rebates, with any remaining shortfall subject to repayment.
As of July 29, the amendment had not taken effect because final approval and written execution were pending. The Aug. 11 second reading and public hearing are the next scheduled steps.