The company plans to increase modeling and simulation support for Department of Defense (DoD) clients, improving national security through innovation and new technologies
NEWS RELEASE
COLORADO GOVERNOR JARED POLIS, COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
*************************
Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that Infinity Labs, a firm that specializes in modeling and simulation, cybersecurity and advanced research and development (R&D), has selected Colorado Springs, Colorado for expansion. The company plans to increase modeling and simulation support for Department of Defense (DoD) clients, improving national security through innovation and new technologies.
“Colorado is the proud home of an innovative, robust aerospace industry and Infinity Labs continues that tradition by bringing over 60 new, good-paying jobs to Colorado Springs. We are thrilled to welcome Infinity Labs and will continue to take bold action to make sure Colorado remains the best place to live, work, and do business,” said Governor Polis.
Infinity Labs was founded by a group of military veterans, engineers, and senior DoD civilians with extensive Modeling, Simulation & Analysis (MS&A), cyber, and multidisciplinary technology experience. The company chose Colorado Springs for its top talent pool.
“Infinity Labs is excited to continue our expansion into Colorado. We see tremendous opportunity with the growth of the defense and commercial aerospace industries as well as the high caliber of Colorado employees we are looking to add to the Infinity team,” said Dr. Ken Edge, Infinity Labs co-founder and chief executive officer.
“Colorado is an epicenter for aerospace and defense industries and fundamentally imperative to our national security. Infinity Labs recognizes the strategic importance of the Centennial State and welcomes the opportunity to grow and flourish in the shadow of the Rockies,” said Jason Molnar, Infinity Labs co-founder and chief strategy officer.
The company expects to create 61 net new jobs at an average annual wage of $130,253, which is 216% of the average annual wage in El Paso County. The positions will include software developers and analysts.
“Colorado Springs is getting noticed. Since December of last year, OEDIT has had the pleasure of working with the Colorado Springs Chamber and Economic Development Corporation to announce eight companies that have chosen Colorado Springs for expansion. We are pleased to see Infinity Labs recognize the region’s strengths and choose this thriving city for expansion,” said OEDIT Executive Director Eve Lieberman.
“By choosing Colorado Springs for expansion, Infinity Labs bolsters Colorado’s reputation as a cyber industry leader and demonstrates that the state and Colorado Springs offer a supportive, business-friendly environment for this important sector and its contributions to our national security,” said Michelle Hadwiger, OEDIT’s Director of Global Business Development.
The Colorado Economic Development Commission approved up to $691,288 in performance-based Job Growth Incentive Tax Credits for the company over an eight-year period. These incentives are contingent upon Infinity Labs, referred to as Project Verge throughout the OEDIT review process, meeting net new job creation and salary requirements.
Infinity Labs has also been awarded $131,713 in local incentives from the City of Colorado Springs and El Paso County.
“Colorado Springs is a hub for cutting-edge military technology and strategy which drives our strong aerospace and defense sector and boasts a flourishing tech market, fueled by a highly skilled talent pipeline, a thriving startup ecosystem, and an unmatched entrepreneurial spirit,” said Johnna Reeder Kleymeyer, president and CEO for Colorado Springs Chamber and EDC. “We are pleased to welcome Infinity Labs into our Region, joining 360-plus tech companies that continue to support critical missions for national and global security.”
“This was a competitive process, and Colorado Springs is grateful to be selected and thrilled to welcome Infinity Labs to our vibrant community,” said Colorado Springs Mayor Yemi Mobolade. “We have cultivated a strong defense economy to include space, aerospace, and cybersecurity, coupled with a highly competitive environment that is attracting and growing businesses, and in turn bringing great opportunity to our residents. Thank you to our partners at the State level for their advocacy of the Pikes Peak region and recognition that Colorado Springs is a premier destination for an absolutely thriving defense industry.”
“It is exciting to see Infinity Labs choosing Colorado Springs for expansion. El Paso County is proud to partner with Infinity Labs and wholeheartedly commends the company for its dedication to bringing high-paying aerospace opportunities to our local economy. This partnership underscores our unwavering commitment to fostering economic growth and innovation in our region,” said Commissioner Cami Bremer, El Paso County.
In addition to Colorado, Infinity Labs considered Albuquerque, New Mexico and Fort Walton Beach, Florida for expansion. The company currently has 65 employees, one of whom is in Colorado.
About Colorado Office of Economic Development and International Trade
The Colorado Office of Economic Development and International Trade (OEDIT) works with partners to create a positive business climate that encourages dynamic economic development and sustainable job growth. Under the leadership of Governor Jared Polis, we strive to advance the State’s economy through financial and technical assistance that fosters local and regional economic development activities throughout Colorado. OEDIT offers a host of programs and services tailored to support business development at every level including business retention services, business relocation services, and business funding and incentives. Our office includes the Global Business Development division; Colorado Tourism Office; Colorado Outdoor Recreation Industry Office; Colorado Creative Industries; Business Financing & Incentives division; the Colorado Small Business Development Network; Cannabis Business Office; Colorado Office of Film, TV & Media; the Minority Business Office; Employee Ownership Office; and Rural Opportunity Office. Learn more at oedit.colorado.gov.
*************************
