Colorado is the Aerospace Epicenter: PteroDynamics Chooses Colorado for New Research and Development Headquarters
186 New Jobs Coming to Colorado Springs
The following press release was distributed by the Colorado Office of Economic Development and International Trade (OEDIT). The Chamber & EDC team worked with OEDIT to bring PteroDynamics’ new R&D headquarters to Colorado Springs.
DENVER — PteroDynamics, an aircraft design and manufacturing company that develops innovative vertical take-off and landing (VTOL) aircraft, today announced that it has selected Colorado Springs, Colorado, as the location for the company’s new research and development headquarters.
“This is great news for Colorado and for El Paso County. Colorado continues to be the leader in aerospace and defense industries, so this new announcement and the 186 good news jobs that come with it further strengthens our reputation as the nation’s best place for aerospace,” said Governor Jared Polis.
“We are thrilled that PteroDynamics is joining the Colorado aerospace ecosystem. Colorado possesses a unique blend of military installations and commands, private aerospace companies, academic and research institutions, and government entities. This unique environment has made Colorado the top state in the nation for private aerospace employment per capita and second in total private aerospace employment, helping launch amazing innovations,” said Lt. Governor Dianne Primavera.
The new facility will focus on research & development and assembly, capitalizing on the skilled workforce available in El Paso County and across the state.
“We are thrilled that Colorado Springs’ commitment to the aerospace industry, our specialized workforce, and our strong business climate made this region the right choice for PteroDynamics,” said Cecilia Harry, Chief Economic Development Officer of the Colorado Springs Chamber & EDC. “We are beyond excited to support their initial footprint in the region and help them grow as they integrate into our business community.”
Once fully operational, the new facility is expected to create 186 jobs with an annual average salary of $120,645 which is 233 percent higher than the average wage in El Paso County.
“We are excited to stand up our new R&D headquarters in Colorado Springs,” said Matthew Graczyk, CEO of PteroDynamics. “We believe that this location will enable us to attract world-class engineering talent who will help us continue innovating for years to come. We look forward to becoming a part of the Colorado Springs community and contributing to the economic growth of the State of Colorado.”
Colorado possesses a unique blend of military installations and commands, private aerospace companies, academic and research institutions, and government entities. This unique ecosystem has made Colorado the top state in the nation for private aerospace employment per capita and second in total private aerospace employment. Colorado competed against Texas for the facility. The company also was recently awarded a large contract with the federal government.
About Colorado Office of Economic Development and International Trade
The Colorado Office of Economic Development and International Trade (OEDIT) works with partners to create a positive business climate that encourages dynamic economic development and sustainable job growth. Under the leadership of Governor Jared Polis, we strive to advance the State’s economy through financial and technical assistance that fosters local and regional economic development activities throughout Colorado. OEDIT offers a host of programs and services tailored to support business development at every level including business retention services, business relocation services, and business funding and incentives. Our office includes the Global Business Development division; Colorado Tourism Office; Colorado Outdoor Recreation Industry Office; Colorado Creative Industries; Business Financing & Incentives division; the Colorado Small Business Development Network; Colorado Office of Film, TV & Media; the Minority Business Office; Employee Ownership Office; and Rural Opportunity Office. Learn more at oedit.colorado.gov.