COLORADO SPRINGS ~ Accu-Precision plans to build a 110,000-square-foot manufacturing facility in Colorado Springs, with a capital investment expected to exceed $45 million across three phases, state officials said.

The Colorado-based precision manufacturer, which makes custom parts, sheet metal and assemblies for aerospace and industrial customers, selected the city after considering Ohio, according to the Colorado Office of Economic Development and International Trade. The expansion follows new contracts with an aerospace prime.

The company expects to create up to 133 net new jobs, including positions for manufacturing technicians, operators, engineers and supervisors. The jobs are expected to pay an average annual wage of $73,032.74, or 107% of the average annual wage in El Paso County, the state said. Accu-Precision currently has 70 employees, all in Colorado.

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"This state-of-the-art facility will allow us to grow our advanced manufacturing in partnership with a community that welcomes our presence," company President Mike McCue said.

The Colorado Economic Development Commission approved up to $1,729,155 in performance-based Job Growth Incentive Tax Credits over eight years. The credits are contingent on the company meeting job-creation and salary requirements. The project, called Project Bold during the state's review, is also expected to qualify for El Paso County's 1.23% Manufacturing Sales and Use Tax Exemption on capitalized manufacturing machinery.

Gov. Jared Polis said the expansion would bring new jobs and investment to the state. OEDIT Executive Director Eve Lieberman said the project reflects the role of advanced manufacturing in Colorado's economy.

Local officials also welcomed the planned investment. Bonnie Goff, vice president of economic development for the Colorado Springs Chamber & EDC, said it would strengthen the region's aerospace supply chain. Colorado Springs Mayor Yemi Mobolade and El Paso County Board of Commissioners Chair Carrie Geitner said the project would create local opportunities and support regional growth.

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