Economic Impact of the PMI, ZYN Manufacturing Plant in Aurora, Colorado
Key Findings
The $1.2 billion PMI, Zyn manufacturing plant in Aurora is anticipated to employ 500 individuals directly.
The investment has broader impacts across the Colorado economy, including:
- During the construction and development phase, generating 6,923 jobs in 2025 and 3,006 jobs in 2026.
- During the ongoing operations, directly and indirectly support an average of 1,131 jobs annually once the plant is operational.
The overall economic impact from 2025 through 2030:
- Nearly $5.4 billion in cumulative economic output.
- More than $1.8 billion in personal income to Coloradans.
Tax Revenue
- The estimated revenue generated to the state’s General Fund of over $64 million surpasses the estimated incentives received from state and local government of $16 million.
- The return on investment (ROI) of the Zyn manufacturing is already positive, with $35 million in tax revenue generated compared to $16 million offered over the course of the project, representing an ROI of 2.2x through July 2026.
Economic Impact from the Direct Jobs and Investment
On July 16, 2024, Phillip Morris International (PMI) announced plans for a $600 million manufacturing plant in Aurora, Colorado.[i] Recent estimates place the investment at $1.2 billion.[ii] At full capacity, the plant is expected to directly employ 500 individuals.[iii] The investment represents one of the most significant advanced manufacturing investments in the state in recent years. Spearheaded by PMI through its U.S. operations, the project signals Colorado’s interest in not only staying competitive but leading in value-added manufacturing and large-scale capital investment. Beyond its direct footprint in Aurora, the facility is poised to generate meaningful economic ripple effects across the state through job creation, supply chain activity, tax revenue generation, and induced household spending.
Manufacturing operations of this scale typically support substantial indirect and induced job creation through supplier networks, logistics providers, construction firms, professional services, and local vendors. During the construction phase, the project generated or will have generated 6,923 jobs in the first year of construction and 3,006 in the second, injecting significant capital into Colorado’s construction and materials sectors.[iv] Ongoing operations began in 2025 at partial capacity. When operating at full capacity, the plant is anticipated to support additional jobs statewide through procurement of inputs, transportation services, equipment maintenance, utilities, and business services, comprising an annual average of 1,131 jobs.
Combining the construction and development phase with the ongoing operations will generate almost $5.4 billion in economic output from 2025 through 2030.
From a fiscal perspective, the project is expected to contribute to local and state tax bases through income taxes, sales taxes, and related economic activity, to the tune of $64 million in revenue from 2025 through 2030.[v]
Taken together, the PMI, Zyn manufacturing facility represents a major infusion of capital and employment into Colorado’s economy, expanding the economic footprint of the state.
Figure 1:
Top 10 Impacted Industries by Jobs/Job Type
What type of jobs are created by the PMI, Zyn manufacturing plant in Aurora? Shown in the following Figure 2 are the top jobs created in 2026 (mostly the construction/development phase) and 2030 (ongoing operations). Among the top created jobs in 2026 are construction trade workers (901), retail sales workers (403), material moving workers (376), business operations specialists (335), and other installation, maintenance, and repair occupations (283). Once complete and ongoing operations are well into their fifth year, the top jobs include food and beverage serving workers (104), other production occupations (88), material moving workers (41), retail sales workers (29), and cooks and food preparation workers (29).
Figure 2:
Incentives Offered Are Much Lower Than the Tax Revenue Generated
The project received the following tax incentives:
- Colorado Office of Economic Development and International Trade – Job Growth Incentive Tax Credit: $4.6 million over 8 years (performance based).[vi]
- City of Aurora: $7.1 million.[vii]
- Adams County: $4.3 million.[viii]
The sum of incentives—approximately $16.0 million—is far less than the anticipated $64 million in tax revenue generated through 2030.
On this note comparing revenue generated with incentives offered: How much revenue has already been generated by the construction and operations of the Zyn manufacturing facility through July 2026? From initial groundbreaking through July 2026, the investment by PMI has generated approximately $35 million, surpassing the incentives offered PMI over the life of the project by $19 million.
The Bottom Line
The PMI, Zyn manufacturing facility marks one of Colorado's most significant recent industrial investments, translating a $1.2 billion capital commitment into hundreds of direct jobs and an estimated $5.4 billion in cumulative economic output through 2030. The fiscal terms of the project are favorable for taxpayers, with $64 million in projected state General Fund revenue outweighing the $16 million in incentives extended by state and local governments. In fact, through July 2026, the revenue generated from the Zyn manufacturing facility (construction plus operations) already surpasses the incentives offered PMI, with $35 million in revenue already generated. Taken together, the investment illustrates the kind of large-scale, high-value manufacturing activity that strengthens Colorado's competitive position and broadens its economic base.
[ii] Based upon discussions with Phillip Morris representatives.
[iv] Common Sense Institute (CSI), economic impact modeling methodology statement: REMI Tax-PI+, version 6550; three regions (Denver Metro, Denver South, Rest of Colorado); employment and investment modeled separately; investment allocated 75% in 2025 and 25% in 2026; employment modeled at 50% of full level in 2025.
[v] The estimated revenue is calculated as the aggregated tax revenue across all tax types as a share of personal income.
[vi] Colorado Office of Economic Development and International Trade (OEDIT), “Job Growth Incentive Tax Credit,” accessed March 2, 2026, https://oedit.colorado.gov/job-growth-incentive-tax-credit
[vii] 2Firsts, “PMI Launches Mass Production of ZYN at $600M Aurora Manufacturing Hub,” February 2026, https://www.2firsts.com/news/pmi-launches-mass-production-of-zyn-at-600m-aurora-manufacturing-hub
[viii] 2Firsts, “PMI Launches Mass Production of ZYN at $600M Aurora Manufacturing Hub,” February 2026, https://www.2firsts.com/news/pmi-launches-mass-production-of-zyn-at-600m-aurora-manufacturing-hub