By Daniela Santos and Alissa Johnson, Marketing Copywriter and Senior Communications Manager for the Colorado Office of Economic Development and International Trade (OEDIT)
In Colorado, a diverse portfolio of advanced and growing industries, one of the best workforces in the nation and a collaborative ecosystem are propelling technological innovation forward. The state is emerging as a leader in high impact sectors like quantum computing, climate resilient tech and semiconductors. Over the last year, Colorado companies and coalitions have secured millions of dollars in state and federal funding to develop the technologies of tomorrow. And state leaders are tackling the issues that matter to employers, including workforce training and developing housing for every income level.
Innovating New Technologies and Fostering Industry Growth
Colorado leads the world in quantum companies, quantum jobs and quantum innovation. The state is also leading the way in cleantech R&D, investment and employment—the State’s “Cleanrange” ranks first in the region and fifth in the nation as a cleantech hub, employing nearly 64,000 people and seeing over $1 billion in venture capital investment since 2019. And the Semiconductor Industry Association places Colorado in the top 10 states with the resources and business ecosystem to support a strong semiconductor industry. All of this good work positioned Colorado companies and coalitions to benefit from the federal CHIPS and Science Act and laid the foundation for significant wins in 2023 and 2024.
A Colorado-led consortium secured federal designation as a tech hub focused on the development of quantum technologies. The Elevate Quantum Tech Hub has solidified Colorado’s place as the global hub for developing quantum technologies and unlocked over $127 million in state and federal funding. Progress is already underway. This fall, several key partners broke ground on Quantum COmmons @ Arvada, a 70-acre site dedicated to advancing quantum technology and marking the region’s first major investment since Colorado became a designated Tech Hub.
The Colorado-Wyoming Climate Resilience Engine, CO-WY Engine, also won its bid to be selected as a U.S. National Science Foundation (NSF) Engine. This prestigious award positions the CO-WY Engine to receive up to $160 million in federal funding over the next 10 years and develop climate-resilient and sustainable technologies to help communities across the nation monitor, mitigate and adapt to climate impacts.
Within the semiconductor industry, two Colorado companies were among the first to secure federal CHIPS funding. Microchip, a leading producer of semiconductor devices, and Entegris, a global supplier of advanced materials and process solutions for the industry, are both using these investments to expand in Colorado.
Across these sectors, the State has played a key role in ensuring Colorado companies and coalitions have the resources they need to leverage federal funding. A new CHIPS Refundable Tax Credits Program modifies existing state economic development tools to make them more accessible to the semiconductor industry and advanced manufacturing sector while also unlocking federal CHIPS Act funding, which requires state or local incentives. And the state played a key role in supporting the development of strong applications for the Elevate Quantum Tech Hub and the CO-WY Engine, ensuring that the right partners came together to collaborate within Colorado and across state lines. That type of collaboration is what Colorado is known for—and at the heart of the state’s initiatives to support workforce and housing development.
Cultivating Tomorrow’s Talent
In Colorado, collaboration and partnership are at the heart of every good initiative. Workforce development is no exception. Through Opportunity Now Colorado, the state is making targeted investments to support the development of skills that meet the needs of in-demand jobs. Recipients are starting or expanding partnerships between industry and educational institutions to support skill development and job placement. In addition to supporting high priority industries like healthcare, education and infrastructure—including construction—they will support Colorado’s growing leadership in sectors such as quantum, semiconductors, clean tech and advanced manufacturing. For example, Innosphere Ventures—which is the technology incubator leading the CO-WY Engine—will use their $1.4 million grant from Opportunity Now to provide internship and apprenticeship programs to cultivate a new generation of systems engineers to address shortages in green energy. To date, 89 grant recipients are projected to serve 20,000 Coloradans. Efforts like these are making a difference. The Lumina Foundation recently recognized the state as having the largest percentage of people with work-ready credentials.
Leading the Nation in Innovative Housing Solutions
Colorado leaders also recognize that a strong business environment includes an adequate supply of housing so workers can live in communities they love and close to their jobs. The state is investing in the off-site housing manufacturing industry which is developing and advancing innovative construction methods that can help accelerate timelines and make construction more cost-effective and sustainable. In the past year, the Affordable Housing Financing Fund awarded $97 million to 35 project sponsors to support the development of approximately 2,730 units of affordable housing plus 3,610 offsite construction units annually over the next three years. Offsite housing manufacturers are exploring new, innovative ways to produce the parts of multifamily and single family housing. These include the manufacturing of mass-timber panels that have the potential to reduce carbon emissions and lower construction costs, and 3D printing using robots. For example, Alquist 3D is a manufacturer that prints 3D structures using a robotic arm to create lower-cost housing and infrastructure while serving economically distressed and underserved communities. Recognizing the state’s innovation in housing, Alquist 3D chose Greeley, Colorado for its headquarters where they are partnering with Habitat for Humanity on housing development and Aims Community College to train students on their technology. This approach to addressing housing and workforce needs is a great example of Colorado’s collaborative nature. Whether in housing, quantum, climate technologies, or semiconductors, these sectors are creating new technologies and working with the state to create a more resilient and thriving future.
Please visit choosecolorado.com to learn more about what Colorado has to offer.
