The Colorado Office of Economic Development and International Trade (OEDIT) Global Business Development (GBD) division announced on Friday that Bluestaq, an enterprise software development firm dominant in the aerospace industry, has selected Colorado for its large-scale expansion.
Based currently in downtown Colorado Springs, Bluestaq specializes in data management systems and data analytics and builds highly secure enterprise software solutions for storing, managing, and sharing data.
Colorado vied with Ogden, UT, and College Park, MD, for the Bluestaq expansion. According to the OEDIT, the driving factors behind the location decision included access to talent, cost of living, and proximity to tech and innovation, and the ability to leverage its presence in the community, including investing in workforce development programs.
“We are adding good jobs across Colorado and succeeding in our efforts to be a nation-leading model for aerospace. Bluestaq’s expansion builds on our success and creates hundreds of well-paying, high-quality jobs in El Paso County,” said Governor Jared Polis. “Bluestaq’s decision to expand in Colorado is a testament to what can be accomplished when partners demonstrate commitment to an industry—and a community. I credit OEDIT, its GBD division, the Colorado Springs Chamber and Economic Development Council (EDC), and the Bluestaq team for working together to take our aerospace industry to new heights.”
“Colorado’s aerospace ecosystem is supported by our state’s Advanced Industry program, and we continue to lead the country with cutting-edge innovation, four military commands and some of the nation’s most renowned research laboratories and universities,” said Michelle Hadwiger, director of the OEDIT’s Global Business Development division. “The expansion of Bluestaq helps the state drive innovation and grow this sector even further and we’re thrilled to see this company choose Colorado as the home of its expansion.”
Last year, Bluestaq was awarded a $280 million contract by the U.S. General Services Administration (GSA) to continue work in the U.S. Space Force’s Unified Data Library of space object data. Bluestaq supports other military branches and is poised to grow over the next several years into commercial aerospace as well as the healthcare sector. These opportunities fuel Bluestaq’s necessity to retain its current top talent and recruit high-quality talent nationally.
Bluestaq’s growth strategy includes prioritizing workforce development opportunities to advance the tech industry’s talent pipeline in partnership with the Colorado Springs community, including the Colorado Springs Chamber and EDC, and Colorado’s higher education and K-12 systems. It expects to create 585 net new jobs over the next eight years at an average annual wage of $188,208, which is 280 percent of the average annual wage in El Paso County.
The jobs will include engineers, operations staff, and operations managers. The company currently has 65 employees, all of whom are in Colorado. Bluestaq CEO & Co-Founder Seth Harvey said incentives offered by Colorado will allow the company to grow on an international level in various sectors while investing in the Colorado Springs community and its workforce.
“We are a proud Colorado Springs company and, while we were courted by other communities across the country, incentives offered by Colorado demonstrates its commitment to not only Bluestaq but to the state’s tech and aerospace industries as a whole,” said Harvey. “The aerospace industry is part of the heritage here in Colorado Springs and the incentives will help Bluestaq grow our team while providing economic impact to the community we love.”
Founded in 2018, the company has received numerous workplace awards, including Inc. Magazine’s 2021 Best Workplaces list. The State of Colorado has committed to provide up to $5,570,470 in performance-based Job Growth Incentive Tax Credits over an eight-year period. The Colorado Office of Economic Development and International Trade (OEDIT) works with partners to create a positive business climate that encourages dynamic economic development and sustainable job growth.