Swisspod’s expands US presence with a manufacturing and assembly facil
Swisspod’s expands US presence with a manufacturing and assembly facility
With the expansion into Colorado Springs, Swisspod, a manufacturer of high-speed vehicles and subsystems for transportation assets, will create over 100 new jobs while advancing the region’s transportation infrastructure. The startup will receive several incentives to support its development.
Swisspod, a Lausanne-based company, offers a solution to support the States’ strategy. Pioneering high-speed, emission-free Hyperloop for the transportation of assets, 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.
Building on the success of their pilot project – the installation of the first 200 meters of its full-scale hyperloop infrastructure in Colorado – 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.
New 107 jobs to be created and State incentives
With an office in Colorado and a growing team of ten employees, the company expects to create 107 net new jobs in Colorado Springs 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.
“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. Setting up an operational office and a manufacturing & assembly space here was a natural next step”, said Swisspod CEO and Co-Founder Denis Tudor.
The Colorado Economic Development Commission approved up to $918,000 in a performance-based Job Growth Incentive Tax Credit for Swisspod 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 has 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.
“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.
Comments
You must be logged in to comment.
Latest Articals
-
How to Successfully Start Your Own Business
IntroductionStarting a business is an exciting journey that requires careful planning and execution. Many entrepreneurs dream of turning their ideas into successful ventures, but navigating the steps from concept to launch can feel overwhelming. With the right guidance and strategy, setting up a business can become a smooth and rewarding process.Why Planning is CrucialBefore diving into operations, every entrepreneur must focus on strategic planning. Using professional guidance for setting up a business can make the process easier and help avoid common pitfalls. Planning includes identifying your target market, understanding customer needs, and defining clear goals for your company.A strong business plan also considers finances, staffing, and potential risks. This foundation ensures that your venture starts on a solid footing and improves your chances of long-term success.Key Steps in Setting Up a BusinessStarting a business involves multiple essential steps:Business Idea Evaluation: Assess whether your idea solves a problem and has market...
-
Top Real Estate Investment Trusts to Work For in the USA
When it comes to building a career in real estate, one of the best opportunities lies within Real Estate Investment Trusts, commonly known as REITs. These organizations own, operate, or finance income-producing real estate across a wide range of sectors. For professionals looking to combine their passion for real estate with stability and growth, exploring the Top Real Estate Investment Trusts to Work For in the USAcan onIn this blog, we’ll explore what makes REITs attractive employers, the benefits of working for them, and highlight some of the most recognized names in the industry. Whether you’re just starting your career or seeking a new challenge, this guide will help you discover which REITs stand out as top employers in the U.S.Why Work for a REIT?REITs are not only strong investment vehicles but also provide rewarding careers for those interested in real estate, finance, asset management, development, and operations. Employees at...
-
Understanding IUI Treatment: Costs and Benefits in Pakistan
IntroductionInfertility is a growing concern that affects many couples across Pakistan. Medical advancements have introduced several treatment options that help individuals achieve parenthood. Among these, intrauterine insemination (IUI) has become one of the most commonly recommended methods. Known for being less invasive and cost-effective compared to other procedures, IUI offers hope to couples seeking professional fertility assistance.IUI Costs and AffordabilityWhen couples consider fertility treatment, one of the first questions that arise is the iui cost in pakistan. The cost generally varies depending on the clinic, the experience of the doctors, and any additional medical procedures required. Compared to treatments like IVF, IUI is relatively more affordable, making it accessible for a larger number of patients. This affordability factor is one reason why many couples choose to start with IUI as their first line of treatment.What is IUI and How Does It Work?IUI is a fertility procedure in which washed and...
-
Professional Event Organizers in UAE: Turning Ideas into Reality
IntroductionThe United Arab Emirates has become one of the world’s leading destinations for global business meetings, luxury weddings, and cultural celebrations. With its modern infrastructure, international appeal, and thriving hospitality sector, the UAE is a hub for world-class events. Behind every successful gathering, however, stands a dedicated team of professionals who ensure that every detail is executed to perfection.Why Businesses and Individuals Choose Event Organizers in the UAEHiring expert event organizers in UAE allows both businesses and individuals to enjoy stress-free planning while ensuring their events are impactful and memorable. These professionals handle every aspect of the process, from selecting venues and managing logistics to coordinating décor, entertainment, and guest experiences. With their expertise, they transform concepts into well-structured and engaging occasions that leave lasting impressions.Comprehensive Event Services OfferedEvent organizers across the UAE provide a wide range of services tailored to different needs:Corporate Events: Conferences, exhibitions, product launches, and award...
-
Event Management Companies Dubai: Delivering Excellence in Every Detail
IntroductionDubai has positioned itself as a global leader in event management, offering unmatched luxury, innovation, and precision. From corporate galas and product launches to extravagant weddings and cultural celebrations, the city delivers world-class events that leave lasting impressions. This success is powered by skilled event management companies that transform visions into reality with meticulous attention to detail.Why Event Management is Key in DubaiEvent management goes beyond organizing—it’s about creating immersive experiences that connect with audiences. Dubai’s dynamic environment demands a level of professionalism and creativity that only experienced event managers can provide. This is why the city has become a hub for some of the world’s most renowned event management companies.The Expertise of Event Management Companies DubaiThe leading event management companies dubai offer comprehensive services covering every aspect of event planning. Their expertise includes concept development, budgeting, vendor coordination, logistics, and on-site management. By combining creativity with operational efficiency, they...
-
Understanding H13 Filters: Protecting Cleanrooms and Sensitive Equipment
In industries where air purity is non-negotiable, maintaining a clean and contaminant-free environment is critical. From pharmaceutical manufacturing to electronics production, airborne particles can compromise both product quality and safety. This is where H13 HEPA filters play an essential role. Known for their high-efficiency performance, H13 filters ensure that cleanrooms, laboratories, and sensitive equipment remain protected from harmful contaminants. At Rayshen, we specialize in providing top-quality H13 filters designed for maximum reliability and performance.What Are H13 HEPA Filters?HEPA, or High-Efficiency Particulate Air, filters are engineered to capture airborne particles with exceptional efficiency. H13 filters fall under the EN 1822 standard and are classified as high-efficiency filters capable of capturing 99.95% of particles as small as 0.3 microns.This makes H13 filters ideal for environments where controlling particulate contamination is critical. The filters are constructed using densely packed fibers that trap dust, pollen, bacteria, and other microscopic particles. Unlike standard air filters,...