Tag: economic development
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Colorado EDC grants $13.3M in incentives to 4 companies
The Colorado Economic Development Commission on Thursday approved a total of up to roughly $13.3 million in job growth tax incentives for four companies considering expanding in the state. Commissioners approved up to $1.73 million in performance-based job growth tax incentive credits over a period of eight years to a manufacturer that produces custom parts,…
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Aerospace research company chooses Fremont County for expansion
Narravity Inc., an aerospace research and technology firm, announced Thursday that it will expand into Fremont County. The company specializes in designing and testing orbital laboratory equipment and the tools needed to conduct experiments in microgravity. It will use money from the state’s Rural Jump-Start program, meant to support “economic development and job creation in…
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Swire Coca-Cola breaks ground on manufacturing facility in Colorado Springs
Roughly three months after announcing an expansion in Colorado Springs, Swire Coca-Cola has broken ground on its new manufacturing facility in the city. The company’s 620,000-square-foot facility will be built in the Peak Innovation Park, near the Colorado Springs Airport. In 2023, the company opened a 145,000-square-foot distribution facility that employs 170 people near the…
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Swire Coca-Cola, USA announces $475M investment in Colorado Springs
Swire Coca-Cola, USA will establish a new state-of-the-art manufacturing facility in Colorado Springs, the company announced late Wednesday afternoon. The Draper, Utah-based company plans to break ground next year on a 620,000-square-foot facility at Peak Innovation Park, the 1,600-acre business park at the entrance to Colorado Springs Airport on the city’s southeast side. Swire Coca-Cola,…
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Colorado EDC approves incentives to bring new fabrication facility to El Paso County
A mechanical contracting and systems engineering company is considering opening a new fabrication facility in Monument, north of Colorado Springs. The Colorado Economic Development Commission approved up to $453,000 in Strategic Fund incentives to the unnamed company labeled as “Project Cobalt” on Thursday. The EDC often does not disclose company names to protect confidentiality throughout…
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Colorado EDC seeks to lure remote company considering going back to office in Denver
A primarily remote company based in California is looking to transition to an office model and is looking to Denver for its in-person presence. The Colorado Economic Development Commission approved more than $2.1 million in job growth tax incentives to an unnamed company labeled as “Project Sweet Summit” on Thursday. The EDC often does not…
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Colorado Springs tech company plans new LiFi manufacturing facility
Terra Ferma, which designs and manufactures new technologies for the communications industry, has selected Colorado Springs as the home of its new Light Fidelity (LiFi) manufacturing facility. Company leadership joined Lt. Gov. Dianne Primavera as well as El Paso County leaders, economic development officials and other supporters to make the announcement on Wednesday afternoon at…
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Colorado Springs offers thousands in tax credits for semiconductor manufacturer’s expansion
The City Council approved a $177,500 financial incentive request this week for an unidentified semiconductor manufacturing and design company that is considering expanding in Colorado Springs and adding 70 jobs over four years. The council voted unanimously to approve a resolution at its regular meeting on Monday, authorizing a four-year economic development agreement between Colorado…
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Colorado Springs works to establish its own CHIPS Zone
Colorado Springs is seeking permission from the state to establish new zones within city boundaries that will further support advanced manufacturing companies in town and strengthen efforts to grow the sector locally. City Council voted unanimously at its regular meeting on Monday to approve a proposal establishing the Colorado Springs CHIPS Zone. It was approved…
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Colorado approves millions in incentives for semiconductor manufacturer’s expansion
A service provider in the semiconductor industry, which operates a packaging facility in Colorado Springs, has been approved for millions in tax incentives from the state if it expands its U.S. operations in Colorado. At its regular meeting on Thursday, the Colorado Economic Development Commission approved more than $1.1 million in performance-based job growth tax…