COLORADO SPRINGS, CO — The semiconductor manufacturing company Entegris Inc. has just agreed to a new venture in Colorado Springs.
Colorado Governor Jared Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) formally announced the expansion of Entegris on Tuesday at the Colorado Springs Olympic and Paralympic Museum.
“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.
The Entegris expansion plan in Colorado Springs will come with the development of a new manufacturing facility in the Rockrimmon area of Colorado Springs.
The company plans on investing $600 million dollars into the construction of this facility over the next several years.
The new production facility is expected to bring in 600 net new jobs which would double Entegris' presence in Colorado. The company said they expect its presence in Colorado will expand over time.
“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 facility will be located at 301 South Rockrimmon Blvd, Colorado Springs.
Entegris is committed to environmental development including water when it comes to Colorado as they plan to continue to reduce their waste, carbon, and water use at this new facility. Below are some of the environmental goals of the company.
- 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.
- Decreasing water usage by more than 50% per revenue dollar from its 2020 baseline.
The company has pledged $30 million dollars in STEM and engineering scholarships for women and individuals from underrepresented groups.
Entegris is planning on filling 50% of the new Colorado Springs facility jobs with women and individuals from underrepresented groups. The new positions are expected to be managers, technicians, chemists, engineers, and warehouse operators, with a projected average annual wage of $74,940.
Colorado Springs Chamber & EDC including other local organizations put together an incentive package for Entegris valued at over $115 million dollars in order to recruit the company here.
The incentives in this package include funding from the City of Colorado Springs, rebates from Colorado Springs Utilities, and the creation of a new Urban Renewal District.
The Colorado Economic Development Commission 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 for Entegris. Contingent upon Entegris meeting the new job creation quotas and salary requirements that they set forth.
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