Infinity Labs, cybersecurity company, picks Colorado Springs to expand

A company specializing in cybersecurity and advanced research and development has chosen Colorado Springs as its new home and plans to add 61 new jobs.

Infinity Labs, currently based in Dayton, Ohio, plans to increase modeling and simulation support for the Department of Defense, the Colorado Office of Economic Development and International Trade, OEDIT, said in a statement Wednesday.

The Colorado Economic Development Commission approved up to $691,288 in tax credits over eight years for Infinity Labs, referred to as Project Verge during the state review process. The tax credits are contingent on meeting the job-creation and salary requirements.

The company, which employs 65 people, expects to add 61 new jobs with an average annual wage of $130,253, which is 216% of the average annual wage in El Paso County. The positions will include software developers and analysts.

“We see tremendous opportunity with the growth of the defense and commercial aerospace industries as well as the high caliber of Colorado employees we are looking to add to the Infinity team,” said Ken Edge, Infinity Labs co-founder and CEO.

The company said it chose Colorado Springs for its base because of its top talent pool. Infinity Labs was started by a group of military veterans, engineers, and senior Department of Defense civilians.

“Colorado is an epicenter for aerospace and defense industries and fundamentally imperative to our national security,” said Jason Molnar, Infinity Labs co-Founder and chief strategy officer.

Eve Lieberman, the executive director of OEDIT, said the state agency has worked with the Colorado Springs Chamber and Economic Development Corp. since December to announce the expansion of eight companies in the city.

Infinity Labs joins 360-plus tech companies in the region “that continue to support critical missions for national and global security,” said Johnna Reeder Kleymeyer, president and CEO of the Colorado Springs Chamber and EDC.

Colorado’s aerospace industry is the second-largest in the country, behind California’s. Colorado has the nation’s largest private aerospace economy per capita, with more than 240,000 workers, according to OEDIT.

Infinity Labs chose to expand in Colorado Springs after also considering Albuquerque, N.M., and Fort Walton Beach, Fla. Its current locations include Fort Walton.

In August, Boecore, an aerospace and defense engineering company, said it will expand its operations in Colorado Springs. It is expected to add 620 new jobs.

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• 2023
• September
• 27

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