Colorado's U.S. Space Academy bid includes millions in incentives

• It could also bring billions in federal investments to town.

Driving the news: Gov. Jared Polis is proposing up to $50 million in tax breaks to woo the academy, with more (but so far unspecified) incentives from the private sector, local governments and higher education partners.

• The state would offer refundable tax credits over five years to help cover eligible real estate and operating costs.

What he's saying: "We are working closely with stakeholders and the aerospace industry and El Paso County and Colorado Springs to put together a winning proposal," Polis said earlier this week as he presented his final budget plan.

• That proposal includes a placeholder for the incentives.

What's next: Colorado faces a late November deadline to submit its bid.

Yes, but: The $50 million isn't a done deal. State lawmakers have the final say on incentives from the state budget.

The intrigue: Polis is term-limited, leaving open the question about whether Gov.-elect Phil Weiser will make the spending a priority.

• Weiser said this week he'll propose his own spending plan in January, when he takes office.

What we're watching: How much local government and private companies are willing to pony up to match the state's incentives.