Terra Ferma Selects Colorado Springs for New LiFi Manufacturing Facility, Bringing 120 New Jobs to Colorado

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COLORADO SPRINGS – Today, Governor Polis, Lt. Governor Primavera, and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that Terra Ferma, which designs and manufactures new technologies for the communications industry, has selected Colorado Springs, Colorado, to start a Light Fidelity (LiFi) manufacturing facility.

"Terra Ferma's decision to establish a LiFi manufacturing facility in Colorado Springs is exciting news for our state, bringing 120 new good-paying jobs to Coloradans and further solidifying our reputation as a hub for advanced technology and manufacturing," said Governor Polis.

Terra Ferma specializes in rapid prototyping, advanced engineering and manufacturing solutions for LiFi, a wireless communication technology that uses light to transmit data, and power over the ethernet. The company's customers include the U.S. military and government, NATO (the North American Treaty Organization), and domestic and international private and governmental end users. Terra Ferma has recently partnered with OLEDCOMM SAS, which uses and manufactures LiFi components.

"We are thrilled to welcome Terra Ferma to Colorado Springs. This community, and our state as a whole, is a magnet for innovation and impressive new technology that advance our economy," said Lt. Governor Dianne Primavera.

In Colorado Springs, Terra Ferma will invest $1.3 million in capital expenditures to develop a LiFi manufacturing facility and the associated support structure, including customer service, engineering and sales. The company chose Colorado Springs for the access to talent and proximity to Department of Defense assets.

"Terra Ferma has called Colorado Springs home for many years, and we are excited to continue growing our business here by leveraging local talent, resources, and community support. Technology and innovation are core to the ecosystem in Colorado Springs, particularly within the defense sector, and we're proud to expand upon that legacy through this initiative. Through strategic local and national partnerships and collaboration, we are bringing full-scale production and R&D efforts for our portfolio of products to Colorado Springs as part of our growth strategy," said Dennis Roark, Founder and President of Terra Ferma.

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"One such example is our evolving collaboration with ITS, LLC, a Colorado Springs-based IT engineering company that brings deep domain knowledge and subject matter expertise to help us collectively close capability gaps and deliver custom solutions for the modern battlefield. Through these efforts, we are not only advancing our technological capabilities but also deepening our commitment to creating high-value jobs and sustainable growth within our community."

Terra Ferma expects to create 120 net new jobs at an average annual wage of $68,108, which is 107% of the average annual wage in El Paso County. The positions will include sales, engineering and warehouse roles.

"By manufacturing LiFi technology in Colorado, Terra Ferma will advance an important, emerging technology and contribute to our state's thriving innovation ecosystem. This expansion will bring quality jobs to Colorado Springs and enhance our thriving aerospace and defense sectors, further solidifying Colorado's leadership in these critical industries," said OEDIT Executive Director Eve Lieberman.

The Colorado Economic Development Commission approved up to $1,010,584 in a performance-based Job Growth Incentive Tax Credit for the company over an eight-year period. These incentives are contingent upon Terra Ferma, referred to as Project Lightspeed throughout the OEDIT review process, meeting net new job creation and salary requirements.

Colorado Springs City Council approved $8,975 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.

El Paso County, the Pikes Peak administrator for the Colorado Enterprise Zone program, estimates that Terra Ferma is eligible for up to $219,272 in state income tax credits through that program.

"Terra Ferma's choice to expand in the Pikes Peak region highlights our reputation as a center for technological innovation and advanced manufacturing and strengthens connections within our aerospace and defense sector," said Johnna Reeder Kleymeyer, President & CEO of the Colorado Springs Chamber & EDC. "This investment will create a variety of new manufacturing opportunities in advanced communication technologies for our country. This project also contributes to the economic vitality of the region through technology-driven job creation and reinforces Colorado Springs as a premier destination to do business with the U.S. military, government agencies, NATO allies, and private and governmental end users."

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"As a city committed to innovation and national defense, we are proud to support Terra Ferma as they shape the future of communication technology and deliver real economic benefits for our residents. Their decision to expand here is a strong vote of confidence in the economic strength, talent base, and strategic location of the Colorado Springs region. This investment reflects the kind of high-quality job creation that not only drives our community forward but strengthens the foundation of our region's long-term success," said City of Colorado Springs Mayor Yemi Mobolade.

"El Paso County is proud to support companies like Terra Ferma that are investing in our community, driving innovation, and strengthening Colorado's leadership in technology and defense," said El Paso County Board Chair, Commissioner Carrie Geitner. "This expansion underscores the strength of our local economy and workforce and reflects the kind of investment that keeps our region at the forefront of opportunity and advancement."

In addition to Colorado, Terra Ferma considered Florida, Virginia and Wyoming for expansion. The company currently has nine employees, eight of whom are in Colorado.

About the 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.

About the Colorado Springs Chamber & Economic Development Corporation

Serving as the area's largest chamber of commerce and economic development organization, the Colorado Springs Chamber & EDC works to build and maintain a superior business climate where companies of all kinds can thrive. It supports existing and future local businesses to fuel a diverse economy and high quality of life. Learn more at www.cscedc.com.

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