Today, Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) formally announced that Entegris, Inc., a global supplier of advanced materials and process solutions for the semiconductor, life sciences, and other high-tech industries, has selected Colorado Springs, Colorado for expansion. In addition to bringing good-paying new jobs to Colorado Springs, the company will support the continued development of the state’s semiconductor industry and the high-skilled workforce it demands.
“Our administration has worked to expand Colorado’s technology and advanced manufacturing industries and to create an economy where we foster innovation. We are thrilled Entegris has chosen Colorado Springs for their expansion which will create up to 600 new jobs. Colorado Springs is a great place to live, work and do business, and our state is excited to welcome companies that share our values of community and workforce development and sustainability,” said Governor Polis.
Entegris plans to expand its presence in Colorado by building a new world-class manufacturing facility in Colorado Springs, focused on the development of products critical to the manufacture of semiconductors. The company expects to invest up to $600 million into the construction of a new production facility over the next several years. Additionally, Entegris expects the new manufacturing center to create approximately 600 net new jobs, doubling Entegris’ presence in Colorado with the potential to continue to expand over time.
“We passed the Chips and Science Bill to bring semiconductor manufacturing jobs back to America. Thanks to Entegris, Colorado is part of that comeback. This is great news for our tech race with China, the state, and our national security,” said Senator John Hickenlooper.
“The past few years have underscored the importance of dependable and secure supply chains based here in America. Thanks to the CHIPS and Science Act and investments to level the playing field for America’s semiconductor industry, we are starting to see more companies, like Entegris, bring this critical industry back home. I welcome this announcement, which will bring good-paying jobs to Colorado, support our technological leadership around the globe, and strengthen our national security,” said Senator Michael Bennet.
After a highly competitive, nation-wide selection process, Entegris chose Colorado and the city of Colorado Springs for the talented workforce, supply chain resources, business-friendly ecosystem and proximity to its customers and Entegris’ existing Colorado site. The Polis Administration’s commitment to supporting the development of the semiconductor industry, including accessing federal funding sources through the Creating Helpful Incentives to Produce Semiconductors and Science (CHIPS) Act, was also a factor.
“Our new U.S. manufacturing center of excellence has the potential to create approximately 600 new jobs over several years, doubling Entegris’ presence in Colorado, with the potential to continue to expand over time,” said Bertrand Loy, Entegris’ President and CEO. “As a strategic supplier to the semiconductor industry, we recognize that it is more important than ever to invest in the U.S. to maintain and expand the nation’s technology leadership across the semiconductor ecosystem. This investment is a transformational step towards addressing the industry’s long-term capacity constraints while building additional supply chain efficiency and resiliency.”
The Colorado Springs facility, which will be located at 301 South Rockrimmon Blvd, Colorado Springs, Colo. in an Enterprise Zone, will be built to include advanced environmental sustainability features. The company’s 2030 sustainability goals include the reduction of energy consumption by more than 20% per revenue dollar from the company’s 2020 baseline, achieving 100% electricity consumption from renewable sources, where available, and decreasing water usage by more than 50% per revenue dollar from its 2020 baseline.
The company also plans to support the continued development of a workforce with the skills to support the semiconductor industry in Colorado and across the U.S. Entegris has committed to investing more than $30 million in STEM and engineering scholarships for women and individuals from underrepresented communities, and filling more than 50% of new engineering roles with women and/or individuals from underrepresented groups. The new Colorado Springs jobs are expected to include managers, technicians, chemists, engineers, and warehouse operators, with a projected average annual wage of $74,940.
“Securing Entegris for expansion in Colorado Springs is a strategic win for the future of Colorado’s semiconductor industry and the El Paso County economy,” said Patrick Meyers, OEDIT Executive Director. “In addition to State support, the Colorado Springs Community worked hard to make this expansion possible, and we look forward to seeing how Entegris grows and contributes to a Colorado economy that works for everyone.”
The Colorado Springs Chamber & EDC, as well as a wide array of local development organizations, utilities, and municipal institutions, have put together an incentive package valued at over $115 million. This package includes funding from the City of Colorado Springs, rebates from the Colorado Springs Utilities, the creation of a new Urban Renewal District, the Colorado Springs Chamber & Economic Development Corporation Deal Closing Fund among other sources.
“We were happy to lead this effort with our numerous partners to show we were the right choice for this substantial investment. Entegris’ new U.S. manufacturing center of excellence will bolster their supply chain optimization while diversifying our economy and creating great jobs for the talented workforce in our region,” said Johnna Reeder Kleymeyer, President & CEO, Colorado Springs Chamber of Commerce and Economic Development Corporation.
“As a significant player in our city’s economic health, Colorado Springs Utilities strives to continue to make Colorado Springs one of the country’s best places for business,” said Travas Deal, acting CEO for Colorado Springs Utilities. “We know that reliable, competitively priced utilities are an integral driver of business, and we were proud to offer a performance-based incentive package, contingent on project milestones, to ensure Entegris can establish operations in Colorado Springs without delay, bringing good jobs and significant capital investment.”
The Colorado Economic Development Commission also approved up to $3,880,500 in a performance-based Strategic Fund incentive over a 5-year period, or 60 months, at $6,500 per net new job. These incentives are contingent upon Entegris, referred to as Project Garnet throughout the OEDIT review process, meeting net new job creation and salary requirements as well as local match incentives from El Paso County-based institutions, led by the Colorado Springs EDC and Chamber.
Entegris currently has approximately 10,000 employees, approximately 500 of whom are in Colorado.