An aerospace and defense engineering company has chosen to expand its operations in Colorado Springs and is expected to create 620 new jobs.
Boecore plans to build a large sensitive compartmented information facility, or SCIF, an ultra-secure building where officials and government contractors can review highly classified information.
The Colorado Economic Development Commission approved up to $7.49 million in performance-based tax credits over eight years. The incentives are contingent upon Boecore meeting net new job creation and salary requirements.
The company was referred to as Project Bullseye throughout the review by the Colorado Office of Economic Development and International Trade.
“As the epicenter of national security space, we are excited that Boecore is expanding here in Colorado, taking root in our collaborative aerospace and defense ecosystem which brings together private companies, institutes of higher education, and military installations to meet workforce and defense needs locally and nationally,” Lt. Gov. Dianne Primavera said in a statement.
The city of Colorado Springs and the Colorado Springs Chamber and EDC are putting together a $671,626 local incentive package, pending final approval.
“By adding over 600 well-paying jobs and millions in capital investment, Boecore’s expansion builds on our region’s space and defense capabilities and its significance in national and global security,” said Johnna Reeder Kleymeyer, president and CEO of the Colorado Springs Chamber and EDC.
Boecore specializes in software solutions, systems engineering and cybersecurity. The company also considered Huntsville, Ala., and Weber County, Utah, for expansion.
Boecore President Tom Dickson said in a statement that the company decided to stay in Colorado because of the financial incentives and the decision to make Colorado the permanent home of U.S. Space Command.
President Joe Biden’s plan to keep the command in Colorado was announced in July. Colorado, which has served as the command’s provisional headquarters, was among the candidates for the permanent location.
Biden’s plan reverses former President Donald Trump’s decision to base the command at Redstone Arsenal in Huntsville, Ala., rather than Peterson Air Force Base in Colorado Springs.
Colorado’s aerospace industry is the second-largest in the country, behind California’s. Colorado has the nation’s largest private aerospace economy per capita, with more than 240,000 workers, according to OEDIT.
Colorado Springs alone is home to approximately 250 companies that provide advanced technologies in national defense, global positioning systems, cybersecurity and satellite communications.