COLORADO SPRINGS — Think high speed rail, but different. Wednesday at the Space Symposium, Colorado Governor (Gov.) Jared Polis (D) joined Swisspod to announce the international transportation tech company would be opening a research and development facility in Colorado Springs.
“If it succeeds in building out, (it) will enable to people to get to Denver from Colorado Springs in 15 minutes," said Gov. Polis.
“It’s a contactless propulsion system. So, kind of like we're flying at ground level," said Swisspod CEO Denis Tudor.
Tudor said his company is trying to build hyperloop technology: An open-air shuttle that can travel at high speeds using fewer resources than say, a railroad.
“We basically can build higher speeds with a fraction of the cost of a high speed railway system," he said.
For now, its site will be a research and development facility with testing grounds in Pueblo.
The product has yet to be rolled out, but Colorado Springs Chamber and EDC leaders said it will benefit the local economy. Even Tudor says it may be years before Coloradans can use it.
“[This will create] over 100 new jobs and almost $2 million in capital investment," said Chamber and EDC President and CEO Johnna Reeder Kleymeyer.
“We're going to test our first full scale technology platform by the end of this year," said Tudor. “We probably need another likely four years to get to a product level where people could actually use it in a kind of like open air solution.”
How is the project being funded? According to the Chamber and EDC, the Colorado Economic Development Commission is providing a $918,000 “incentive based” tax credit to the project.
El Paso County approved more than $1 million in incentive based funds, while Colorado Springs City Council approved $5,250 in incentive based funds.
If all goes according to plan, Tudor said Coloradans will be some of the new technology's first riders.
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A family in Colorado City says illegal dumping near their home is becoming a safety issue
One official told News5 the trash piles could be infested with rats or other dangerous factors, so they are waiting to work with the health department to remove trash from the area.
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