Expanding Transportation Innovation: Gov. Polis Announces Swisspod Expansion in Colorado

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COLORADO SPRINGS – Today, Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that Swisspod, a company pioneering high-speed, emission-free Hyperloop transportation, is expanding in Colorado Springs. As a designer and manufacturer of high-speed vehicles and subsystems for transportation assets, Swisspod aims to transform the way people and goods move.

"I'm excited to see Swisspod expand its presence in Colorado, the best place to live and do business. Colorado's future is one where people can have more transportation options and expanded transit services at a lower cost. Swisspod will bring new, good-paying jobs to Colorado Springs while supporting the future of transportation infrastructure," said Governor Polis.

In 2024, Governor Polis announced Colorado Transportation Vision: 2035, which includes new goals and strategies to reduce transportation-related air pollution and GHG emissions by increasing transportation options, expanding transit services, and building more housing near train and bus stops.

Swisspod develops technology that can revolutionize the transportation sector, making it faster, more reliable, and more sustainable. The company has developed patents for propulsion and levitation technologies that have the potential to transform current track-based transportation systems and extend into industries like aerospace, automotive, and more.

Now, the company is expanding its North American presence with a new manufacturing and assembly facility in Colorado Springs. There, access to talent, supply chain connectivity, and proximity to partners, as well as the development of a prototype of its hyperloop transportation system in Pueblo, Colorado, will support the company's growth.

"We've built deep ties to Colorado. This is the home to our full-scale hyperloop infrastructure in Pueblo. And now, our newest R&D hub in Colorado Springs, a city that's on the rise, an innovation powerhouse packed with bold thinkers and exceptional engineers ready to build the future. Setting up an operational office and a manufacturing & assembly space here was a natural next step. We're excited to shape the future of transportation in a city that's evolving full speed ahead," said Swisspod CEO and Co-Founder Denis Tudor.

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In Colorado Springs, the company expects to create 107 net new jobs at an average annual wage of $67,952.38, which is 108% of the average annual wage in El Paso County. The positions will include roles in engineering and design, production, marketing, operations, and administrative support.

"Companies like Swisspod are creating the technologies of tomorrow while creating good-paying jobs for Coloradans. We are thrilled to see them expand in Colorado Springs, enhancing our state's commitment to innovation and diversifying our thriving economy," said OEDIT Executive Director Eve Lieberman.

The Colorado Economic Development Commission approved up to $918,000 in a performance-based Job Growth Incentive Tax Credit for the company over an eight-year period. These incentives are contingent upon Swisspod, referred to as Project Chocolate throughout the OEDIT review process, meeting net new job creation and salary requirements.

The Colorado Springs City Council approved $5,250 over a four-year period in performance-based incentives. The sales and use tax rebates apply to the purchases of construction materials, equipment, machinery, furniture, and fixtures.  The City's Economic Development Department also offered to support the company through its Rapid Response Program, as well as talent and workforce development support. Additionally, El Paso County approved $1,041,609 in incentives.

"Swisspod's expansion will significantly enhance Colorado Springs' advanced manufacturing sector, diversify our transit systems, and open our region to new business opportunities across North America," said Johnna Reeder Kleymeyer, President & CEO of Colorado Springs Chamber & EDC. "Our region's diverse industries, robust economy, and highly skilled workforce create strong supply chains, allowing deep tech companies like Swisspod to thrive."

"We are proud to welcome Swisspod Technologies to Colorado Springs as they open their first North American headquarters. Their forward-thinking approach to technology and transportation aligns with our goals of creating vibrant economic growth, high-quality jobs, and positioning our community as a hub for cutting-edge industries. Hyperloop transportation has captured the attention and imagination of the world, and Colorado Springs is proud to be home to the people who are leading this innovative and ambitious work," said Mayor Yemi Mobalade, City of Colorado Springs.

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"El Paso County remains committed to creating a business-friendly environment where private enterprise can thrive," said Commissioner Carrie Geitner, Chair of the Board of County Commissioners. "By supporting initiatives like the Pikes Peak Enterprise Zone, we're making it easier for job creators to invest, grow, and hire right here in our community. We're proud to welcome Swisspod Technologies to El Paso County and look forward to the positive impact this investment will have on our region."

In addition to Colorado, Swisspod considered New Mexico for expansion. The company already has 10 employees in Colorado and is looking to expand its team here.

About Swisspod

Swisspod is a Swiss-American transportation technology company leading the development of the most sustainable, efficient, and comprehensive Hyperloop solution. The company was founded in 2019 by Denis Tudor, CEO, and Cyril Dénéréaz, CTO, two multiple-award winners of the SpaceX Hyperloop Competition. Swisspod aims to change the way people travel by connecting every major city using sustainable, carbon-neutral, energy-efficient, and high-speed transportation solutions. The company envisions a continental map of connections between major cities that will facilitate collaboration, accelerate human progress, and create a more prosperous future for the generations to come. For more information, visit www.swisspod.com and follow Swisspod on LinkedIn, Facebook, Instagram, X.com, and YouTube for ongoing updates.

About Colorado Office of Economic Development and International Trade

The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all to thrive in Colorado's economy. Under the leadership of the Governor and in collaboration with economic development partners across the state, we foster a thriving business environment through funding and financial programs, training, consulting and informational resources across industries and regions. We promote economic growth and long-term job creation by recruiting, retaining, and expanding Colorado businesses and providing programs that support entrepreneurs and businesses of all sizes at every stage of growth. Our goal is to protect what makes our state a great place to live, work, start a business, raise a family, visit and retire—and make it accessible to everyone. Learn more about OEDIT.

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