Multicut, a Danish space, energy, and defense manufacturer and machinist, will build a new factory, the Forge Campus, in Loveland, Colorado. According to a release from the Colorado governor’s office, the company will create 82 new jobs and support the U.S. defense industry.
The governor’s office added the new jobs would include engineering positions and operators for machining and cutting in Multicut’s “ultra-precision manufacturing” business and said the jobs so created would net above the average annual wage for the county.
To help secure the expansion, the Colorado Economic Development Commission granted Multicut a $1 million Job Growth Incentive Tax Credit, paid over an eight year period and contingent on net new job creation and salary requirements. The expansion follows a June 2024 trip during which Governor Polis and other state officials visited a series of Nordic countries to explore foreign direct investment opportunities.
The company counts Lockheed Martin, Raytheon a.k.a. RTX, Vestas, and Planet Labs among its clients. In a statement, CEO Frank Duhring emphasized the company’s collaboration with other companies.
What people are saying
“As a Danish company, we value long-term partnerships, innovation, talent, and a collaborative business environment,” Multicut CEO Frank Duhring said. “We are excited and proud to expand our presence here and to contribute to Colorado’s dynamic advanced manufacturing ecosystem.
“Multicut’s decision to expand in Colorado shows how our state’s strong international relationships and terrific business environment create good-paying jobs for Coloradans and boost international investment into our state,” said Colorado Governor Polis. “I am excited to welcome Multicut, which will create 82 new jobs in Loveland and support the growth of Colorado’s defense industry.”
“Colorado’s advanced manufacturing sector is diverse and growing, and we are thrilled to welcome Multicut to Loveland,” said OEDIT Executive Director Eve Lieberman. “Their innovative approach to precision manufacturing will benefit our state’s and the nation’s space, defense and energy sectors while creating good-paying jobs for Coloradans.”
“The arrival of this company represents exactly the kind of strategic growth Loveland has been working toward; bringing high-quality jobs to our community, attracting international business, and expanding our presence in aerospace, leading-edge robotics and precision manufacturing, while continuing to position our city as a place where innovation and opportunity can thrive,” said Patrick McFall, City of Loveland Mayor.
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About the Author
Ryan Secard
Ryan Secard joined Endeavor B2B in 2020 as a news editor for IndustryWeek. He currently contributes to IW, American Machinist, Foundry Management & Technology, and Plant Services on breaking manufacturing news, new products, plant openings and closures, and labor issues in manufacturing.