Accu-Precision Selects Colorado Springs for $68.15 Million Manufacturing Expansion, Creating 133 New Jobs

COLORADO SPRINGS - Today, Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that Accu-Precision, a Colorado-based precision manufacturer serving aerospace and industrial customers, has selected Colorado Springs for expansion of its manufacturing operations.

"I am thrilled to see Accu-Precision expand in Colorado Springs. By bringing 133 new good-paying jobs and investing millions in a new state-of-the-art facility, we're building the future of American manufacturing right here in Colorado," said Governor Polis.

Accu-Precision produces custom parts, sheet metal and assemblies for customers in the aerospace and industrial sectors. As a result of substantial new contracts with an aerospace prime, the company plans to develop a new, 110,000-square-foot facility. Total capital investment associated with the project is expected to exceed $45 million across three phases. Expansion in Colorado Springs will provide Accu-Precision with additional capacity to support its continued growth while strengthening Colorado's advanced manufacturing and aerospace supply chain.

"We are looking forward to attracting the best and the brightest in one of the most beautiful places in the nation. This state-of-the-art facility will allow us to grow our advanced manufacturing in partnership with a community that welcomes our presence," said Mike McCue, President at Accu-Precision.

In Colorado, Accu-Precision expects to create up to 133 net new jobs at an average annual wage of $73,032.74, which is 107% of the average annual wage in El Paso County. The positions will include manufacturing technicians, operators, engineers and supervisors.

"Advanced manufacturing is a driving force behind Colorado's strong economy. Accu-Precision's expansion in Colorado Springs highlights the strength of our pro-business environment, our talented workforce, and our ongoing commitment to supporting innovative companies that create quality jobs across our state," said OEDIT Executive Director Eve Lieberman.

To support the company's expansion in Colorado, the Colorado Economic Development Commission approved up to $1,729,155 in a performance-based Job Growth Incentive Tax Credit over an eight-year period. These incentives are contingent upon Accu-Precision, referred to as Project Bold throughout the OEDIT review process, meeting net new job creation and salary requirements.

Additionally, the expansion is expected to qualify for El Paso County's 1.23% Manufacturing Sales and Use Tax Exemption on capitalized manufacturing machinery.

"Accu-Precision's expansion is a strong vote of confidence in Colorado Springs and in the advanced manufacturing ecosystem we're building here. This investment will create more than 120 new jobs while strengthening the aerospace supply chain that is so important to our region's economy and national security. We're proud to welcome Accu-Precision's continued growth and look forward to supporting their success in Colorado Springs," said Bonnie Goff, Vice President of Economic Development for the Colorado Springs Chamber & EDC.

"Accu-Precision is an exciting investment in El Paso County and another example of why companies are choosing our region to grow and build for the future," said Carrie Geitner, Chair of the El Paso County Board of Commissioners. "We are committed to making it easier to do business here by keeping County processes efficient, providing a predictable business environment, investing in critical infrastructure, and working alongside our regional partners to move projects forward. We are proud to welcome Accu-Precision to El Paso County and look forward to the jobs and opportunities it will create and the positive impact it will have on our community and region."

"Accu-Precision's investment in Colorado Springs is a win for our community and another vote of confidence in our city as a place where businesses can start, grow, and succeed," said City of Colorado Springs Mayor Yemi Mobolade. "This expansion means new jobs and opportunities for our residents, a stronger advanced manufacturing and aerospace ecosystem, and continued momentum for our local economy. It also demonstrates what is possible when the public and private sectors work together to create the conditions for responsible growth and shared prosperity. We are grateful Accu-Precision is choosing Colorado Springs for its next chapter; and we are proud to grow alongside them," said Colorado Springs Mayor Yemi Mobolade.

In addition to Colorado, Accu-Precision considered Ohio for expansion. The company currently has 70 employees, all of whom are located in Colorado.

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 the 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.

About the Colorado Springs Chamber & Economic Development CorporationServing as the area's largest chamber of commerce and economic development organization, the Colorado Springs Chamber & EDC works to build and maintain a superior business climate where companies of all kinds can thrive. It supports existing and future local businesses to fuel a diverse economy and high quality of life. Learn more at https://www.cscedc.com.

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