(COLORADO SPRINGS) — On Tuesday, April 9, Governor Jared Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that Spectrum Advanced Manufacturing Technologies (Spectrum AMT) will be expanding in Colorado Springs

Spectrum AMT produces essential products for advanced manufacturing and assembly while offering quick-turn product development and manufacturing services for the aerospace, medical, industrial, and commercial sectors. It plans to enlarge its current facility by 3,000 square feet and construct a new 12,000-square-foot building for manufacturing and assembly purposes.

“Colorado is a leader in advanced manufacturing, and Spectrum AMT will create over 100 new good-paying jobs in this important industry. We are thrilled to see Spectrum AMT expand in Colorado Springs and this new investment will help Colorado remain the best place to live, work, and do business,” said Governor Polis.

The company anticipates generating more than 100 new positions with an average annual salary of $85,407, surpassing El Paso County’s average annual wage by 135%. The roles will include marketing and sales, engineering, inspection, accounting, production, administration, and technical support.

“Spectrum’s expansion will bring with it a wave of exciting opportunities,” said the Mayor of Colorado Springs, Yemi Mobolade. “Their decision to expand here is a testament to our City’s skilled workforce and vibrant business environment. Furthermore, it showcases the incredible potential of Colorado Springs as a city for business retention, growth, and advancement.”

The Colorado Economic Development Commission has greenlit a performance-based Job Growth Incentive Tax Credit of up to $1,281,974 over eight years for Spectrum AMT, identified as Project Da Vinci during the OEDIT review. These incentives hinge on Spectrum AMT fulfilling net new job creation and salary requirements. The Colorado Springs Chamber & EDC orchestrated a local incentive deal with the City of Colorado Springs and El Paso County, totaling $275,496.

Spectrum AMT also considered Tulsa, Oklahoma for expansion. The company currently has 54 employees, all of whom are in Colorado.