Creating Good-Paying Jobs for Coloradans: Polis Administration Announces Expansion of Engineering Company in Colorado Springs

COLORADO SPRINGS - Today, Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that WMD Squared Engineering has selected Colorado Springs, Colorado for expansion, creating 42 new jobs. The company provides innovative engineering, design and drafting services, specializing in production-level equipment.

"By supporting our workforce, enhancing our high quality of life, and lowering costs, we are making Colorado the best state for anyone to start, relocate, or grow a business. Creating more good-paying jobs for hardworking Coloradans, my administration continues to encourage companies like WMD Squared to move to the free state of Colorado and we are thrilled that 42 good new jobs are coming to town," said Governor Polis.

In Colorado Springs, WMD Squared will serve the North American market with a special focus on the medical, energy and aerospace sectors. The company will also focus on fulfilling a new contract with the United States Coast Guard and the United States Navy. The new location will be in downtown Colorado Springs at Catalyst Campus, 555 E Pikes Peak Avenue, Suite 120-4.

"We are very excited about our Colorado Springs location. This has been a five-year process, and picking a location that creates and will help retain a solid engineering staff is crucial to our growth. Being close to the mountains, and the defense and aerospace industry will be a game changer for us. We are also very appreciative to Beth Taylor, Deputy Director at APEX Colorado Springs for connecting us with Tim Vanderhoof and Seth Pruett Colorado Springs EDC. Also with the Colorado Office of Economic Development and International Trade, which made this all possible," said Willem Mast, Co-Founder of WMD Squared Engineering.

WMD Squared expects to create 42 net new jobs at an average annual wage of $79,286, which is 125% of the average annual wage in El Paso County. The positions will include engineers and sales professionals.

"WMD Squared will be an asset to the Colorado Springs community and the state, supporting the development of new technologies and products. We're excited to welcome the company to the state, and grateful for the many partners that make these types of expansions possible so we can create new, good-paying jobs for Coloradans," said OEDIT Executive Director Eve Lieberman.

Colorado APEX Accelerator, which fosters economic development and job creation in the state through partnerships and collaboration with local and state resources, played a key role in facilitating WMD Squared's relocation from Louisiana to Colorado, connecting the company with the Colorado Springs Chamber & EDC and OEDIT.

Patrick McGlew, Executive Director of the Colorado APEX Accelerator, credits Taylor's leadership and expertise for the success of this project. "Beth Taylor has been a key player in Colorado's economic development for years. Her knowledge and deep connections within the state allowed us to collaborate seamlessly on this project, joining our expertise in government contracting with the resources of our state partners to ensure a smooth transition."

"We are excited to see the positive impact this company will have on our region," McGlew added. "Our team's work alongside state partners aligns with the Department of Defense's goal of supporting innovative small businesses, and we look forward to continuing these efforts."

"WMD Squared will bring engineering expertise to support Colorado Springs' thriving aerospace and defense and med-tech industries, which are crucial to national security and the quality of life for millions in the United States," said Johnna Reeder Kleymeyer, President & CEO of Colorado Springs Chamber & EDC. "Economic development is a team sport. We were pleased to partner with Apex Accelerator to bring WMD into our region."

The Colorado Economic Development Commission approved up to $299,115 in a performance-based Job Growth Incentive Tax Credit for the company over an eight-year period. These incentives are contingent upon WMD Squared Engineering, referred to as Project Cypress throughout the OEDIT review process, meeting net new job creation and salary requirements.

In addition to Colorado, WMD Squared considered Missoula, Montana and Portland, Oregon, for expansion. The company currently has 12 employees based in Lafayette, Louisiana.

About WMD Squared Engineering

We are an engineering firm that grew from our passion to support industry, startups and defense with an "engineering department for hire". We aren't like most engineering firms. Most of our customers utilize us as their engineering department. We handle every aspect of product creation, but we also manage the product for it's lifetime. We update the engineering package to match production, and easily design new products to expand the product line. Our documentation is held to medical and aerospace standards. This allows us to seamlessly collaborate with large companies, and provide the same enterprise engineering department to small businesses.

About OEDIT's Global Business Development Division

Global Business Development (GBD) is a division of the Colorado Office of Economic Development and International Trade. GBD supports Colorado businesses and communities by using a data-driven approach to recruit, support, and retain businesses that contribute to a robust and diversified economy. We align our portfolio of programs, services, and incentives with industries that benefit Colorado companies and elevate the state's national and international competitiveness. GBD also hosts foreign delegations and participates in trade and investment missions around the world to strengthen global awareness of Colorado. With a highly educated and motivated workforce, a thriving innovation economy, and nation-leading entrepreneurial spirit, Colorado is a top market for business development.

About Colorado Office of Economic Development and International Trade

The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all to thrive in Colorado's economy. Under the leadership of the Governor and in collaboration with economic development partners across the state, we foster a thriving business environment through funding and financial programs, training, consulting and informational resources across industries and regions. We promote economic growth and long-term job creation by recruiting, retaining, and expanding Colorado businesses and providing programs that support entrepreneurs and businesses of all sizes at every stage of growth. Our goal is to protect what makes our state a great place to live, work, start a business, raise a family, visit and retire-and make it accessible to everyone. Learn more about OEDIT.

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