LONGMONT – Today, Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) joined aerospace and defense company Ursa Major to celebrate the grand opening of a new manufacturing facility in Longmont, Colorado. The facility will expand the company's production of avionics and in-space propulsion systems while increasing manufacturing space at its Berthoud, Colorado headquarters. Today's event marks an important milestone in Ursa Major's Colorado expansion plans, which are poised to create up to 1,850 new jobs and enhance Colorado's status as a leading U.S. aerospace ecosystem.

"Ursa Major's expansion in Longmont highlights Colorado as a global leader in aerospace and defense. We are thrilled to see this innovative company grow and succeed in our state, bringing thousands of high-quality jobs for Coloradans that will strengthen our economy and drive even more businesses to call Colorado home," said Governor Polis.

Ursa Major is a leading manufacturer of hypersonics, solid rocket motors and space mobility systems. The Longmont facility has capacity to seat more than 125 employees, and features dedicated labs for welding and manufacturing, an ISO 7 hard-walled clean room with an ISO 8 gowning room, and an environmental test lab. The expansion also allows Ursa Major's hypersonics and solid rocket motor programs to grow in their existing locations.

"Colorado is home to Ursa Major. It's where we safely design, test, and build, and where our people work every day to keep America ahead. We're grateful for Colorado's partnership and support as we expand. The state has been a strong champion of our mission to revitalize the defense industrial base, and we're proud to deliver the systems the warfighter needs from the Centennial State," said Chris Spagnoletti, CEO of Ursa Major.

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To support Ursa Major's expansion in Colorado, the Economic Development Commission (EDC) approved up to $35,260,763 in a performance-based Job Growth Incentive Tax Credit (JGITC) over an eight-year period. Additionally, the company may elect to convert up to $23 million of the JGITC award into Refundable Tax Credits, to be refunded at 80% of their total value or up to $18.4 million. These incentives are contingent upon Ursa Major, referred to as Projects Ladybug and Fluorine throughout the OEDIT review process, meeting specific net new job creation and salary requirements.

"Ursa Major's expansion in Berthoud underscores the strength of our state's business climate and Colorado's status as a global leader in aerospace and defense. Our state is home to more than 2,000 aerospace companies, representing 24% growth over the last five years, and we are thrilled to support Ursa Major's growth in this key Colorado industry," said OEDIT Executive Director Eve Lieberman.

"Ursa Major's investment demonstrates that Colorado is not only a place where aerospace companies innovate, but where they manufacture, grow and build for the long term," said Raymond H. Gonzales, President of the Metro Denver Economic Development Corporation. "This expansion brings together high-quality jobs, advanced production capabilities and an important Colorado-grown company that is shaping the future of the aerospace and defense industry."

The company currently has more than 360 employees, including approximately 300 in Colorado.

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About OEDIT's Global Business Development Division

Global Business Development (GBD) is a division of the Colorado Office of Economic Development and International Trade. GBD supports Colorado businesses and communities by using a data-driven approach to recruit, support, and retain businesses that contribute to a robust and diversified economy. We align our portfolio of programs, services, and incentives with industries that benefit Colorado companies and elevate the state's national and international competitiveness. GBD also hosts foreign delegations and participates in trade and investment missions around the world to strengthen global awareness of Colorado. With a highly educated and motivated workforce, a thriving innovation economy, and nation-leading entrepreneurial spirit, Colorado is a top market for business development.

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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