City of Colorado Springs
Enable Recite
Share to Facebook Share to Twitter Bookmark and Share
File #: 19-687    Version: 1 Name:
Type: Resolution Status: Mayor's Office
File created: 10/24/2019 In control: City Council
On agenda: 11/12/2019 Final action: 11/12/2019
Title: A Resolution Approving an Economic Development Agreement Between the City of Colorado Springs and Project Beach. Presenter: Bob Cope, Economic Development Officer Chelsea Gaylord, Senior Economic Development Specialist
Attachments: 1. Project Beach City Council Work Session Presentation, 2. Project Beach Economic Development Agreement, 3. Project Beach Resolution, 4. Signed Resolution 126-19.pdf

Title
A Resolution Approving an Economic Development Agreement Between the City of Colorado Springs and Project Beach.

Presenter:
Bob Cope, Economic Development Officer
Chelsea Gaylord, Senior Economic Development Specialist
Body
Summary:
Project Beach is a rapidly growing communications technology company that makes it easy for businesses to build relationships with customers through videos in email, text, and social media. The company has an international presence in over 40 countries and sends over 126 million minutes of video through its products each year. Project Beach is expanding its headquarters location in Colorado Springs from 18,700 square feet to 28,700 square feet and currently employs 121 people company-wide. Over the next four years, the company plans to hire an additional 186 new employees and relocate 40 existing employees to Colorado Springs. With creation of these new full-time jobs, Project Beach desires to invest in business personal property, including communications equipment, and construction materials for its facilities expansion. The company is also currently under review for state of Colorado incentives, which requires a $1:$1 local match. The Executive Branch is recommending that the City provide certain performance-based incentives for the company investment, job growth, and to provide a qualifying local match for state incentives.

Background:
Project Beach has investment plans for business personal property, construction materials, and job creation for its Colorado Springs facilities. The company estimates that it will invest $1 million in purchases of construction materials, communications equipment, and furniture and fixtures. The company expects to hire 186 new full-time employees over the next 4 years at an average wage of $82,642.

The Executive Branch is recommending that the City enter into an Economic Development Agreement to provide certain performance-based incentives for the company to invest in business p...

Click here for full text



The City of Colorado Springs is committed to making its websites accessible to the widest possible audience. We are constantly working to increase the accessibility and usability of our online technology. We strive to maintain conformance to Web Content Accessibility Guidelines (WCAG) 2.0 as well as U.S. Federal Government Section 508 Guidelines. The City of Colorado Springs will be evaluating this site on a regular basis and it will continue to evolve and improve over time as new technologies emerge. If you experience difficulty accessing the information contained within this webpage please contact the Office of Accessibility at 719-385-5169.