FORT COLLINS Square Comp, an early stage virtual reality technology company based out of Chennai, Tamil Nadu, India, will make Fort Collins its new U.S. headquarters, the company announced Thursday in a news release.
The move would bring 54 net new full-time jobs to the city spread across management, software and web development and operations positions. Fort Collins was chosen over the California Bay Area, according to the release.
Square Comp manufactures customizable VR training platforms for manufacturing companies. By allowing companies to train new employees in a VR simulation of the company’s production floor, Square Comp’s technology aims to provide a safer, faster training environment.
The announcement comes after steep increases in cost and significant delays driven by the coronavirus. It s been a complicated and a really difficult process, but we’re almost there, said Bob Cope, economic development manager for the city of Colorado Springs.
The bond markets fell apart in March of last year because of the coronavirus just as the bonds for the project were offered for sale. Since then, the markets have largely recovered and Cope said he expects the bonds to be sold in June because similar projects have recently been financed.
Following the delay, the Colorado Springs City Council had to increase the bonding authority for the project by $10 million earlier this year bringing the total debt limit up to $90 million to cover the visitor s center and public infrastructure across the 51-acre site. A business improvement district set up for the project will be responsible for paying back the debt, not the city.
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The planned hotel and conference center planned to be built near the new Air Force Academy visitor s center could cost up to $225 million, according a legal notice. Courtesy city of Colorado Springs
city of Colorado Springs
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The planned hotel and conference center planned to be built near the new Air Force Academy visitor’s center could cost up to $225 million, according a legal notice. Courtesy city of Colorado Springs
city of Colorado Springs
A Colorado software company is expanding its operations and a company that designs and sells TVs and sound bars is opening an office in the state, which state officials said will create a total of at least 400 new jobs.
Nextworld, a cloud-based enterprise software company, plans to expand its Greenwood Village headquarters, which will add more than 300 new jobs, according to a statement from the governor s office and the Office of Economic Development and International Trade.
“I’m thrilled that Nextworld will deepen its roots here in Colorado with an important expansion creating over 300 good jobs as we rapidly recover from this pandemic,” Gov. Jared Polis said.