Title
A resolution approving an Economic Development Agreement between the City of Colorado Springs and Entegris, Inc.
Presenter:
Bob Cope, Economic Development Officer
Body
Summary:
Entegris, Inc. is a global supplier of advanced materials and process solutions for the semiconductor, life sciences, and other high-tech industries. Entegris plans to build a new Manufacturing Center of Excellence in Colorado Springs. The world class facility will be approximately 500,000 square feet (Phase 1) and the company expects to invest approximately $631 million in construction and equipment. The facility will create an estimated 597 direct jobs over 5 years with an average wage of $74,940 which is 25% above El Paso County's Average Annual Wage. There is potential for a significant Phase 2 expansion in 2028 which would add an additional 500,000 square foot expansion and create an additional 483 new jobs.
The Entegris Manufacturing Center of Excellence was a highly competitive project with several communities considered. The Company will break ground on the new facility in 2023 following final approval of local and state incentives.
Background:
Entegris plans to build a new Manufacturing Center of Excellence in Colorado Springs. The world class facility will be approximately 500,000 square feet (phase 1) and the company expects to invest approximately $631 million in construction and equipment. The facility will create an estimated 597 direct jobs over 5 years with an average wage of $74,940 which is 25% above El Paso County's Average Annual Wage. The Entegris Manufacturing Center of Excellence was a highly competitive project with several communities considered. A proposed package of performance-based incentives has been assembled by the City of Colorado Springs, El Paso County, Colorado Springs Utilities, and the State of Colorado. In addition, an Urban Renewal Area designation is being pursued for the proposed site. The Company will break ground on the ne...
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