(CTN News) – There was an announcement earlier today from the Colorado Springs Chamber & Economic Development Corporation that a tech company would be investing $880 million in the Pikes Peak region. This is part of its expansion plans.
There are a number of reasons why Microchip Technology is excited about expanding its business into silicon carbide and silicon production within the Springs area.
According to this Senior Vice President, the company plans to upgrade the 50-acre campus to increase SiC manufacturing for use in automotive/e-mobility, grid infrastructure, green energy, as well as aerospace and defense applications in the near future.
This announcement is expected to have a significant impact on customers nationwide in the industrial, automotive, consumer, aerospace and defense, communications, and computer sectors.
All kinds of electronic devices, including cars, smartphones, MRI scanners, industrial robots and data centers, use microchip technology in some form or another.
There will be economic growth in Colorado Springs’ economy in the near future. Currently, Microchip Technology is working on creating 400 brand-new, high-paying job opportunities for its employees.
It is estimated that the average salary for a Microchip employee ranges from 76K to 113K per year.
“At the moment, we have about 850 members. Ganesh Moorthy, Senior Colorado Springs Vice President of the company, said that we plan on adding just north of 400 people over the next few years.
“There are a number of groups looking to hire and build out engineers and engineering teams within our company. As I mentioned in my previous statement, it’s a great place to attract engineers and talent to the company.”
A number of city officials, including Mayor John Suthers, have expressed their hope that this will make the Springs Silicon Mountain in the near future.
It is hoped that we will be able to expand our economic opportunities just like Silicon Valley in California has done over the last few decades.
In the words of Colorado Springs Mayor Suthers, “We have come full circle,” he said, adding that “and as I mentioned, you heard the Microchip folks talking about the role of silicon; we are once again the silicon mountain.
” I believe that this marks the beginning of a new chapter in Colorado Springs’s history.”
Is Colorado Springs a good area to live?
This Central Colorado city is an outdoor enthusiast’s dream! Mountain views, an abundance of outdoor recreation, and ample job opportunities are just a few reasons The Springs is one of the best places to live in the U.S. Plus, it’s one of the nation’s most dog-friendly cities.