Title
A resolution approving an Economic Development Agreement between the City of Colorado Springs and Zivaro, Inc.
Presenter:
Shawna Lippert, Senior Economic Development Specialist, Economic Development
Bob Cope, Economic Development Officer, Economic Development
Body
Summary:
Zivaro, Inc. is a rapidly growing information technology (IT) company that provides IT infrastructure, cybersecurity, and cloud solutions for a variety of highly regulated industries including the federal government, healthcare, financial services, and energy. Zivaro is headquartered in Denver, Colorado and is one of the fastest growing large private businesses in Colorado.
Zivaro intends to start a new business unit to further serve the U.S. Government, which will be a software development-intensive effort. Over 95% of Zivaro's customers are outside of El Paso County. Zivaro plans to remodel 12,000 square feet at its Colorado Springs office and build out 5,000 square feet of SCIF (Sensitive Compartmented Information Facility) space.
The company currently employs 50 employees at its Colorado Springs location, and over the next eight years plans to hire an additional 300 employees. With the creation of these new full-time jobs, Zivaro desires to invest in business personal property, including furniture, fixtures, machinery, equipment, and construction materials for its facilities redevelopment and expansion.
The Executive Branch is recommending that the City provide certain performance-based incentives for the company investment and job growth.
Background:
Zivaro, Inc. has investment plans for business personal property, construction materials, and job creation for its Colorado Springs facilities. The company estimates that it will invest $5 million in purchases of construction materials, furniture, fixtures, machinery, and equipment. The company expects to hire 300 new full-time employees over the next 8 years at an average wage of $165,000.
The Executive Bra...
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