El Paso County, Colorado Springs is pushing to gain an advanced manufacturing facility

The Colorado Economic Development Commission added $3.88 million in cash incentives Thursday morning, in addition to the $111 million that Colorado Springs and El Paso County have put on the table to win an advanced manufacturing facility that will be built at could help the country’s efforts to restore domestic semiconductor production.

Project Garnet, the codename for a company that makes electronic materials and process solutions for semiconductors, life sciences and other high-tech industries, intends to invest more than $1 billion in a two-stage project that could create more than 1,000 jobs in Colorado.

The $3.88 million grant from the State’s Strategic Fund is tied to the creation of 597 net new jobs and a $631 million investment in the first phase of the project. The jobs created will have an average wage of $69,096 and will include technicians, chemists, engineers, and manufacturing and warehousing operations. The incentives are $6,500 per job provided and are available over a 60-month period.

El Paso County once served as a secondary center for semiconductor manufacturing before the quest for cost savings offshored much of that work. But there is now a concerted push from the federal government, fearing the national security implications of supply chain disruptions, to bring more advanced production back to domestic plants.

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