A Louisiana-based engineering company is expanding to Colorado Springs and bringing dozens of new jobs to the area, it was announced Thursday.
WMD Squared Engineering will set up shop at The Catalyst Campus for Technology & Innovation on the eastern edge of downtown, according to a release by Gov. Jared Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade. The company is expected to create 42 jobs at an average annual wage of $79,286, which is 125% of the average annual wage in El Paso County.
WMD Squared Engineering provides engineering, design and drafting services, specializing in production-level equipment. The Colorado Springs jobs will include engineers and sales professionals. the release said.
“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,” Willem Mast, co-founder of WMD Squared Engineering, said in the release. “Being close to the mountains, and the defense and aerospace industry, will be a game changer for us.”
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. The incentives are contingent upon WMD Squared Engineering, referred to as Project Cypress throughout the OEDIT review process, meeting job creation and salary requirements. The company also considered Missoula, Mont., and Portland, Ore., for expansion; it has a dozen employees in Lafayette, La.
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 expansion to Colorado, the release noted.
“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,” Johnna Reeder Kleymeyer, president and CEO of the Colorado Springs Chamber & EDC, said in the release. “Economic development is a team sport. We were pleased to partner with APEX Accelerator to bring WMD into our region.”
