The Polis-Primavera Administration and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced today that Boecore, an aerospace and defense engineering company that specializes in software solutions, systems engineering and cybersecurity, has selected Colorado Springs, Colorado for expansion.
“We are thrilled to welcome Boecore to Colorado, bringing over 620 new good-paying jobs to Colorado. We are the proud home of the innovative, robust aerospace industry and continue taking bold action to make sure Colorado remains the best place to live, work, and do business,” said Gov. Polis.
Colorado is home to the largest private aerospace economy per capita in the U.S., with more than 240,000 workers in the state’s aerospace industry. In Colorado Springs alone, more than 250 companies provide advanced technologies in national defense, global positioning systems, cybersecurity and satellite communications. Colorado Springs is also the permanent home of U.S. Space Command and the U.S. Space Force Space Operations Command.
“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. Boecore’s speciality in cybersecurity and mission operations will continue to be an important part of Colorado’s commitment to all things air, space and security,” said Lieutenant Governor Dianne Primavera, co-chair of the Colorado Space Coalition.
Boecore expects to create 620 net new jobs, including software and systems engineers.
“Boecore shares Colorado’s spirit of innovation and our commitment to advancing new technologies that benefit national security. We’re pleased they are expanding in the state’s growing aerospace and defense industry and the Colorado Springs community,” said OEDIT Executive Director Eve Lieberman.
With the strength of the space community across the entire state of Colorado and the very concentrated space community in Colorado Springs, Boecore plans to build a large sensitive compartmented information facility (SCIF), an ultra-secure building where officials and government contractors take extraordinary precautions to review highly classified information.
“Colorado is the premier space state, and we are thrilled to be awarded growth incentives from the State of Colorado and Colorado Springs. Because of these awards and the decision to keep Space Command here in Colorado, we’ve decided that Colorado Springs will be the continued location of our headquarters and the primary focus of our growth and investments,” said Tom Dickson, President of Boecore. “These incentives will help fund new infrastructure, office space, and hiring focused in Colorado and we can’t wait to get started.”
“Colorado is home to aerospace companies, military leaders, institutions of higher learning and research centers, and economic development groups and industry associations that work to make Colorado a center of excellence for space. Colorado’s aerospace industry is globally competitive and we see that when companies like Boecore choose our state for expansion,” said Michelle Hadwiger, OEDIT’s Director of Global Business Development. “Boecore will help continue Colorado’s legacy as a top aerospace ecosystem.”
Recognizing that Boecore will create new, high-wage jobs and support Colorado’s growing aerospace industry, the Colorado Economic Development Commission approved up to $7,499,388 in performance-based Job Growth Incentive Tax Credits for the company over an 8-year period. These incentives are contingent upon Boecore, referred to as Project Bullseye throughout the OEDIT review process, meeting net new job creation and salary requirements.
The City of Colorado Springs and the Colorado Springs Chamber & EDC are also putting together a projected $671,626 local incentive package pending final approval.This package will include the Colorado Springs Deal Closing Fund, a job creation grant, as well as a city economic development agreement.
“Colorado Springs is positioned as a strategic market for aerospace and defense investment, fueled by our diversified, resilient, and strong economy that inspires investor confidence and catalyzes business expansions by top defense and aerospace companies to the Pikes Peak region. We are excited that Boecore chose Colorado Springs for expansion. 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 & CEO for the Colorado Springs Chamber & EDC.
Boecore also considered Huntsville, Alabama, and Weber County, Utah for expansion.