New 3D printing firm set to boost local economy

In a recent government meeting, officials discussed the expansion of a 3D printing operation in Broomfield, which is poised to significantly contribute to the local economy. The company, currently employing 10 people, plans to hire an additional 20 employees as it finalizes a lease on a new facility with potential for further expansion. The business, valued at approximately $4 million to $5 million, anticipates investing between $20 million and $30 million over the next five years.

This innovative firm specializes in 3D printing with ceramics, serving key sectors such as aerospace and health technology. The technology is not only advancing manufacturing but is also being utilized in medical applications, including surgical procedures.

To support this growth, the city is proposing a financial incentive package that includes up to 50% of the use tax for building out the new space and a similar reduction in business personal property tax over the next decade. The estimated total benefit to the company would not exceed $350,000, while the anticipated tax revenue generated is expected to surpass $700,000, yielding a return of approximately two-to-one for the community.

Additionally, the meeting highlighted the importance of supporting local businesses and enhancing the community's hospitality offerings, referencing a new French bakery as part of the broader economic development strategy. The council is set to vote on the proposed business incentive agreements, which reflect the city’s commitment to fostering advanced manufacturing and supporting local enterprises.