The Colorado Office of Economic Development and International Trade (OEDIT) announced today that Emerson has selected Boulder, Colorado for its new, 180,000-square-foot expansion project. The $100M investment, including a new innovation center, will support 250 new jobs over the coming years.
“As an entrepreneur, I saw firsthand how Colorado’s talent and market strengths can fuel innovation,” said Colorado Governor Jared Polis. “This timely investment in Coloradans and our state is a bold statement about our economic power and the bright opportunities that lie ahead.”
Emerson’s expansion includes an 85,000-square-foot laboratory and manufacturing facility to design and develop products, technologies and software that measure and control the flow of material in a manufacturing process. These innovations are core components of Emerson’s Plantweb™ digital ecosystem, a scalable portfolio of technologies, software and services that help customers digitally transform their operations and achieve Top Quartile performance.
“The Emerson manufacturing project is a perfect example of the role that company expansions play within OEDIT’s business development strategies. Capturing the incremental investment of a multi-national STEM-based firm increases Colorado’s supply-chain, innovation and talent pool density,” said OEDIT Global Business Development Director Michelle Hadwiger.
Emerson applied for a Job Growth Incentive Tax Credit (JGITC) in July 2019 for the creation of up to 252 net new jobs with an average annual wage of S109,250, which is equivalent to 167% of the average annual wage in Boulder County. These jobs will be spread out across, engineering, marketing, sales, and operations. The Economic Development Commission unanimously approved a performance based incentive of $4,279,629 to be paid over eight years as the jobs are created.
“This U.S. investment significantly expands our ability to serve as industry leaders, helping customers in essential industries optimize their operations with the latest technologies,” said David N. Farr, chairman and chief executive officer of Emerson. “Our new facility demonstrates our continued commitment to customer-driven innovation and high-tech manufacturing, as well as our focus on attracting the best and brightest talent to work for Emerson.”
Emerson has over 200 manufacturing facilities around the world and has a sales presence in more than 150 different countries. Emerson currently has more than 600 employees in the state working in its measurement solutions business.