Hyperloop company expands to Colorado Springs with new manufacturing facility, bringing over 100 jobs

COLORADO SPRINGS, Colo. (KRDO) – On Wednesday, Gov. Jared Polis announced that Swisspod – a company pioneering high-speed, emission-free hyperloop transportation – is expanding to Colorado Springs, with plans for a new manufacturing facility in the works.

Southern Colorado is already home to the world’s largest hyperloop test site. In Pueblo, a full-scale infrastructure built by Swisspod is already in place to test travel pods capable of reaching speeds over 600 miles per hour.

READ MORE: Test site for ultra-fast travel pods comes to Pueblo

With the goal of transforming how people and goods are transported, the system could one day connect Pueblo to Denver in under 25 minutes – and now, Colorado Springs will be added to the circuit.

Polis, alongside company leadership and state leaders, made the announcement during a visit to Colorado Springs, at the 40th Space Symposium event hosted at The Broadmoor.

“I’m excited to see Swisspod expand its presence in Colorado, the best place to live and do business," Polis said. "Colorado’s future is one where people can have more transportation options and expanded transit services at a lower cost. Swisspod will bring new, good-paying jobs to Colorado Springs while supporting the future of transportation infrastructure."

The company expects to create 107 new net jobs in Colorado Springs at an average annual wage of almost $68,000 a year – well above the average annual wage in El Paso County. Positions will include roles in engineering and design, production, marketing, operations and administrative support.

According to a release from the governor's office, the company is expanding with a new manufacturing and assembly facility in Colorado Springs, which will provide supply chain connectivity and proximity to the Pueblo facility to support the company's growth.

“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, a city that's on the rise, an innovation powerhouse packed with bold thinkers and exceptional engineers ready to build the future," Swisspod CEO and Co-Founder Denis Tudor said. "Setting up an operational office and a manufacturing & assembly space here was a natural next step. We're excited to shape the future of transportation in a city that's evolving full speed ahead."

Up to $918,000 in performance-based Job Growth Incentive Tax Credit was approved by the Colorado Economic Development Commission for the company's first eight years in the state. The funding is contingent on Swisspod meeting certain job creation and salary requirements.

The Colorado Springs City Council also approved $5,250 over a four-year period in performance-based incentives, and El Paso County approved $1,041,609 in incentives. The sales and use tax rebates will apply to the purchases of construction materials, equipment, machinery, furniture, and fixtures.  

“We are proud to welcome Swisspod Technologies to Colorado Springs as they open their first North American headquarters," Colorado Springs Mayor Yemi Mobolade said. 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."