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Spectrum Advanced Manufacturing Technologies (Spectrum AMT) is set to significantly expand its operations in Colorado Springs, reinforcing its role in precision electronics and assemblies manufacturing. This move is supported by the Colorado Economic Development Commission and both state and local governments, emphasizing a mutual commitment to economic development and innovative enterprises. by Clarence Oxford
Los Angeles CA (SPX) Apr 11, 2024
Spectrum Advanced Manufacturing Technologies (Spectrum AMT) is set to significantly expand its operations in Colorado Springs, reinforcing its role in precision electronics and assemblies manufacturing. This move is supported by the Colorado Economic Development Commission and both state and local governments, emphasizing a mutual commitment to economic development and innovative enterprises.
Spectrum AMT, a subsidiary of Ocutrx Technologies, Inc., has announced plans to enhance its manufacturing footprint with two new facilities, now collectively known as the Ocutrx-Spectrum Advanced Manufacturing Campus. This expansion, supported by Job Growth Incentive Tax Credits totaling $1,281,974 over eight years, aims to create 101 new jobs.
Governor Polis highlighted, Colorado is a leader in advanced manufacturing, and this expansion by Spectrum AMT exemplifies the state's capability to attract and maintain high-quality jobs in key industries.
The newly acquired complex will be transformed into a 12,500 square feet site named the Brig. Gen; Richard C and Gwendolyn Freeman Commercial Manufacturing Center, which will include state-of-the-art ISO 8 Class 100,000 Optical Cleanrooms. These facilities will support the production of OcuLenz and ORLenz AR/XR headsets and the StereoLenz glasses-free 3D monitors.
Jeff Gilbert, Spectrum's Chief Operating Officer, expressed gratitude for the ongoing support from 5Star Bank, highlighting the importance of such partnerships in fostering local industrial growth and technological advancement. Aileen Barrios, Executive Vice President of 5Star Bank, echoed these sentiments, emphasizing the shared commitment to driving innovation and community development in Colorado.
The expansion also introduces the Deep Space Center, a new 3,000-square-foot cleanroom facility dedicated to specialized wiring and harnessing critical to deep space missions. This enhancement aims to mitigate contamination risks inherent in space-bound hardware, ensuring the highest standards of production.
This initiative not only bolsters Spectrum AMT's capabilities in aerospace and military sectors but also underlines its commitment to the medical and industrial fields. Spectrum AMT has contributed to significant space missions, including the DART, Parker Solar Probe, and the recent Psyche Mission, among others.
Mayor of Colorado Springs, Yemi Mobolade, and Johnna Reeder Kleymeyer, President and CEO of Colorado Springs Chamber and EDC, both praised Spectrum AMT's expansion for its potential to bring high-quality employment and foster economic growth in the region.
In addition, the El Paso County welcomed the expansion, recognizing the benefits of the Enterprise Zone Tax Credits program in fostering local technological advancements and job creation, as noted by Commissioner Cami Bremer, Chairwoman of the Board of El Paso County Commissioners.
The expansion is poised to not only enhance Spectrum AMT's production capabilities but also to advance Ocutrx Technologies' groundbreaking AR/XR technology for both medical and military applications, reinforcing Colorado Springs' position as a hub for high-tech industry and innovation.
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