(COLORADO SPRINGS) — Governor Jared Polis announced on Wednesday, April 9, that Swisspod, a company developing high-speed, emission-free Hyperloop transportation, will expand into Colorado Springs.
“I’m excited to see Swisspod expand its presence in Colorado, the best place to live and do business. Colorado’s future is one where people can have more transportation options and expanded transit services at a lower cost. Swisspod will bring new, good-paying jobs to Colorado Springs while supporting the future of transportation infrastructure,” said Governor Polis.
The company will expand in the state with a new manufacturing and assembly facility in Colorado Springs.
“We’ve built deep ties to Colorado. This is the home to our full-scale hyperloop infrastructure in Pueblo. And now, our newest R&D hub in Colorado Springs, a city that’s on the rise, an innovation powerhouse packed with bold thinkers and exceptional engineers ready to build the future. Setting up an operational office and a manufacturing & assembly space here was a natural next step. We’re excited to shape the future of transportation in a city that’s evolving full speed ahead,” said Swisspod CEO and Co-Founder Denis Tudor.
Up to $918,000 in a performance-based Job Growth Incentive Tax Credit was approved by the Colorado Economic Development Commission for Swisspod over an eight-year period. These incentives depend upon Swisspod meeting new job creation and salary requirements.
$5,250 over a four-year period in performance-based incentives was also approved by the Colorado Springs City Council. The sales and use tax rebates will apply to the purchases of construction materials, equipment, machinery, furntiture, and fixtures. Additionally, El Paso County approved $1,041,609 in incentives.
“Swisspod’s expansion will significantly enhance Colorado Springs’ advanced manufacturing sector, diversify our transit systems, and open our region to new business opportunities across North America,” said Johnna Reeder Kleymeyer, President & CEO of Colorado Springs Chamber & EDC. “Our region’s diverse industries, robust economy, and highly skilled workforce create strong supply chains, allowing deep tech companies like Swisspod to thrive.”
