Business Wins in Colorado Springs: How Companies Soared to New Heights in 2022
Colorado Springs is a respite for companies and entrepreneurs looking for a low cost of doing business, a competitive cost of living, and an availability of highly skilled workers. In 2022 the city saw some major business wins, expanding upon its successes from the previous year with a resurgence of investment in aerospace & defense and other industries.
Located at the center of a state that holds the nation’s 6th best economy, Colorado Springs companies focused on collaboration and innovation in 2022, and all indicators are pointing toward continuing success in 2023.
Colorado Springs’ 2022 Rankings Overview
- Economic Development – In 2022 Colorado Springs was ranked No. 9 on the Milken Institute’s list of “best-performing” large U.S. cities, which cited variables like the city’s broadband access, space research, skilled workforce, and impressive number of defense corporations and bases. WalletHub also ranked Colorado Springs as the ninth best large city to start a business.
- Livability – Making the jump four spots in U.S. News & World Report’s 2022 Best Places to Live was Colorado Springs — now with the No. 2 ranking. The news outlet also ranked the city the No. 1 most desirable place to live in the U.S., a move up from its No. 2 position in 2021. Families also thrive in the city with StorageCafe ranking the city No. 19 best place to raise a family in the U.S. and RentCafe ranking it No. 8 best mid-sized city for renters.
- Workforce – Project management platform Teamwork ranked Colorado Springs as the No. 17 best city for remote work in 2022. The city also ranked in RentHop’s top five cities for single people and was Military Friendly’s No. 5 place to live for military spouses.
Economic Development Success in 2022
Bolstered by a pro-business climate and collaboration, Colorado Springs has become a thriving place for innovation, job growth, and business wins. In late 2022, Entegris Inc., a global advanced materials supplier for the semiconductor and tech industries, announced plans to build a new manufacturing center in Colorado Springs. Entegris selected the city for the $600 million project due to the talented workforce, business-friendly environment, and the company’s existing partnerships with the state and local government. The expansion will bring nearly 600 new jobs to the area with potential for more.
Also in 2022, military training and modeling simulation product developer Delta Solutions & Strategies won a $187 million contract to assist U.S. Space Command with intelligence, logistics, communications, and war-game exercises. The five-year project will create more than 300 jobs and will secure 10,000 square-feet of office space at the company’s headquarters in Colorado Springs.
In September 2022, governmental advising agency Aerospace Corp. unveiled its 90,000-square-foot Space Warfighting Center located at the Peak Innovation Park. The new facility is located beside the company’s existing facility and will support the demand of local military space agencies for technical design and specialized training.
Adding to the list of successful defense contractors is woman-owned Caliola Engineering — a trusted provider of mission-critical technical communication products. Over the course of three years, Caliola has won multiple contracts and awards, including up to $3,942,340 from the Colorado Office of Economic Development and International Trade (OEDIT)’s eight-year job growth incentive tax credit. Over 370 jobs will be created through the incentive credit at more than double the average El Paso County wage — a significant jump from the four part-time employees the company started with in 2019. The job expansion was also grounds for the company being named “Colorado Company to Watch” in 2021.
Zivaro, an information technology company serving government and national defense partners, selected Colorado Springs for expansion of their new business unit that will focus on modernizing legacy systems that serve Space and Command Control Programs on behalf of the U.S. government. The expansion will add more than 300 new jobs to the community.
Additionally, Zivaro is the first company to benefit from a Colorado Springs’ new Deal Closing Fund. Through the performance-based incentive, qualifying companies can receive up to $5,000 for the creation and maintenance of new full-time permanent positions. The fund is managed by the Colorado Springs Chamber & EDC and will build on the area’s high rate of economic recovery and growth.
With a host of new projects in the pipeline for 2023, Colorado Springs’ economy isn’t showing any signs of slowing down. Contact us to see how your company can tap into the city’s young, educated talent and available tax incentives and become a part of the growing list of business wins in Colorado Springs.