Boecore, a Colorado Springs-based aerospace and defense company that specializes in software development, system engineering and cybersecurity, will bring more than 600 jobs to the region and invest nearly $8 million to remodel and expand its facilities. 

The Colorado Springs Chamber & EDC released the news Tuesday at its office, which during the past year has been a frequent site of economic development announcements equaling thousands of potential high-wage positions. Boecore’s job offerings over the next five to eight years will include software and system engineering positions that will average $160,484 a year.

“Boecore shares Colorado’s spirit of innovation and our commitment to advancing new technologies that benefit national security,” said Eve Lieberman, executive director for the Colorado Office of Economic Development and International Trade (OEDIT).?”We’re pleased they are expanding in the state’s growing aerospace and defense industry and the Colorado Springs community.”

Last month, OEDIT approved up to $7.49 million in performance-based Job Growth Incentive Tax Credits for the company over an eight-year period. The incentives are contingent upon Boecore, referred to as Project Bullseye throughout the OEDIT review process, meeting net new job creation and salary requirements.

Beyond job creation, Boecore plans to nearly triple its office space by moving into a 17,000-square-foot facility on the northeast corner of Voyager and Research parkways, Dickson said. Boecore also plans to build a large sensitive compartmented information facility (SCIF), where officials and government contractors can review highly classified information.

“We are excited that Boecore chose Colorado Springs for expansion,” said Johnna Reeder Kleymeyer, president and CEO for the Colorado Springs Chamber & EDC. “By adding over 600 well-paying jobs and millions in capital investment, Boecore’s expansion builds on our region’s space and defense capabilities and its significance in national and global security.”

A local incentive package of $671,626 is pending final approval and includes contributions from the Colorado Springs Deal Closing Fund, a job creation grant, as well as a city economic development agreement.??

City Council gave informal support on Monday for a $24,000 financial incentive request that could be formally approved next month.

Boecore’s expansion announcement follows the decision for Space Command to remain in Colorado Springs instead of moving to Huntsville, Ala., which is also one of Boecore’s operating locations outside of Colorado Springs.

Boecore President Tom Dickson acknowledged Space Command played a role in the company’s decision to invest in the region since Space Command provides invaluable access to military leaders and networking opportunities within the city’s aerospace and defense ecosystem.

“Colorado is the premier space state, and we are thrilled to be awarded growth incentives from the state of Colorado and Colorado Springs,” Dickson said. “Because of these awards and the decision to keep Space Command here in Colorado, we’ve decided that Colorado Springs will be the continued location of our headquarters and the primary focus of our growth and investments.”

Boecore, which currently employs 400 workers, 240 of whom work in Colorado, also considered its Huntsville, Ala., and Ogden, Utah, locations for the expansion.

Founded in 2000 by businesswoman Kathy Boe, Boecore grew into one of the Springs’ more successful defense contractors.

Desiring to take a step back from day-to-day operations, Boe sold the company in early 2022 to Enlightenment Capital, an investment firm in the suburbs of Washington, D.C. She continues to serve on Boecore’s board.

Enlightenment was one of 20 potential buyers for Boecore. Its sale was made with the intention that the buyer keep Boecore’s name, take care of its employees, and use the company as a catalyst for making future acquisitions.

Such acquisitions came to fruition over the past year, with the addition of local satellite and communications firm Ascension Engineering Group, software product company Orbit Logic and most recently California-based cybersecurity firm La Jolla Logic.

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