Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that mechanical contracting and systems engineering company ACCO Engineered Systems (ACCO) has chosen El Paso County for expansion.
“ACCO Engineered Systems’ decision to expand in El Paso County is a testament to Colorado’s thriving economy and talented workforce. We are thrilled to welcome this employee-owned industry leader to Monument, where they will create 135 good-paying jobs and strengthen our state’s manufacturing and engineering sector,” said Governor Polis.
An employee-owned company, ACCO is dedicated to the design, fabrication, installation, maintenance and service of commercial and industrial HVAC, refrigeration, plumbing, process piping, and building automation systems. In Monument, the company will establish a new fabrication facility with a planned capital investment of $36 million to support their growing business.
“Our move to Monument is a significant step forward for our growth in the Colorado market,” said Dan Gudmunson, ACCO Engineered Systems project executive. “The added capacity we gain with this shop and the jobs it will create will allow us to provide our best-in-class fabrication and installation capabilities to more customers throughout Colorado and the surrounding states.”
ACCO expects to create up to 135 net new jobs at an average annual wage of $87,037, which is 133% of the average annual wage in El Paso County. The positions will include project managers, engineers, and operations.
“ACCO Engineered Systems’ expansion into El Paso County highlights Colorado’s status as a premier destination for advanced manufacturing and mechanical engineering. By bringing 135 new jobs to Monument, ACCO is demonstrating the strength of our state’s business climate and the ongoing success of our efforts to support industry-leading companies as they grow and innovate in our communities.” said OEDIT Executive Director Eve Lieberman.
To support the company’s expansion in Colorado, the Colorado Economic Development Commission approved up to $453,000 in a performance-based Strategic Fund Job Growth Incentive over a five-year period. These incentives are contingent upon ACCO, referred to as Project Cobalt throughout the OEDIT review process, meeting net new job creation and salary requirements.
Additionally, El Paso County, as the local administrator of the State of Colorado Enterprise Zone Program, estimates that ACCO Engineered Systems could qualify for up to $585,800 in performance-based state Enterprise Zone tax credits and exemptions. The Town of Monument also approved a local performance-based incentive of up to $453,060, tied to verified new full-time jobs at ACCO’s Monument facility.
“As our first competitive economic development project with the Town of Monument, their leadership, responsiveness, and willingness to think strategically demonstrated why Monument is such an attractive place for growing companies,” said Bonnie Goff, Vice President of Economic Development for the Colorado Springs Chamber & EDC. “This project represents an exciting opportunity to bring high-quality jobs and new investment to the community, and we’re proud to have worked alongside our partners in Monument as well as at the Office of Economic Development and International Trade and El Paso County to help make it possible.”
“Manufacturing is an important part of a strong local economy,” said Carrie Geitner, Chair of the El Paso County Board of County Commissioners. “ACCO Engineered Systems shows that El Paso County is a place where employers can invest with confidence. The Enterprise Zone helps us support that investment and the creation of quality jobs for the people who live here.”
“The Enterprise Zone gives us a practical way to remove barriers for projects that bring real value to our community,” said Commissioner Bill Wysong, whose district includes the project area. “ACCO Engineered Systems will add skilled manufacturing jobs to northern El Paso County and strengthen the regional construction supply chain.”
“ACCO Engineered Systems’ expansion is an exciting milestone for Monument and one we competed hard for. This was the first time the Town has put together a local economic incentive package, so being chosen over the competition means a great deal. They’re bringing high-quality jobs and real investment to our community, and we look forward to supporting their long-term success here,” said Mitch LaKind, Mayor of Monument.
In addition to Colorado, ACCO considered Peoria, Arizona, for expansion. The company currently has 6,500 employees, 285 of whom are located in Colorado.