DENVER — An unidentified company could soon undertake a $100 million operations expansion project in Boulder.

The Colorado Economic Development Commission approved a nearly $4.3-million tax incentive package Tuesday to entice that company — known as “Project Salvo” — to move forward with expansion.

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It is the commission’s practice not to identify companies the Colorado Office of Economic Development and International Trade is recruiting until incentives are accepted.

Despite the confidentiality, there is reason to believe Project Salvo could be Emerson Electric Co. (NYSE: EMR), which operates subsidiary Micro Motion Inc. in Boulder’s Gunbarrel neighborhood.

Here’s what BizWest knows about Project Salvo and why there could be an Emerson connection:

According to Michelle Hadwiger, OEDIT deputy director and director of global business development, Project Salvo is an American Fortune 500 company founded more than 100 years ago that has more than 200 manufacturing facilities around the world. The company “is considering expanding operations of one of its wholly owned subsidiaries in Colorado,” she said. Emerson is indeed an American firm founded in 1890. It is ranked 178th on the 2019 Fortune 500 list. Emerson operates roughly 205 manufacturing facilities, and Micro Motion is an Emerson subsidiary with existing operations in Boulder.

Project Salvo is a company that “manufactures advanced flow measurement devices that serve customers in the industrial, commercial and residential markets,” Hadwiger said. That is precisely what Micro Motion does at its Gunbarrel facility.

“The project would entail an expansion of the company’s manufacturing capabilities as well as the creation of an innovation center where the company plans to hold demonstrations for its clients,” Hadwiger said. BizWest reported in May that Micro Motion planned to expand its existing West Wing Manufacturing Building at 7070 Winchester Circle and build a new Emerson Flow Innovation Center at 6949 Winchester Circle. The innovation center “will function as a customer experience center where the client’s product, systems, solutions and expertise will be showcased,” according to plans submitted to the city. The company declined to comment on its plans at that time. Micro Motion has room to grow — the company bought 5.5 acres of vacant land across the street from its main campus in 2016 for $2,125,000.

Neal Wieschhaus, a site selection consultant with Duff & Phelps, was present and spoke briefly at Tuesday’s Economic Development Commission meeting. According to his biography on the Duff & Phelps website , Wieschaus was previously “a senior manager in Emerson Electric’s Corporate Tax Department where he was responsible for business incentives and indirect taxes.”

Should Project Salvo move forward with expansion plans, the company would invest more than $100 million to build and equip new operations, Hadwiger said.

The expansion would add 252 new jobs over eight years with average salaries of more than $109,000. Those jobs would be spread across manufacturing, engineering, sales and operations.

Colorado is competing with Texas and Mexico for the project.