Bal Seal Engineering, based in Orange County, Calif., will get a tax break up to $150,000 to build a medical device manufacturing plant in north Colorado Springs, El Paso County commissioners decided this morning.
The tax break comes in the form of rebating the sales and use tax spent on materials to build the facility at Voyager Parkway and Republic Drive, estimated at $111,000 to $150,000 by county economic development official DeAnne McCann. She said the company will expand its workforce from about 40 people to 250 people in the next few years; construction will employ 135.
"This will create significant revenues for the county," McCann said.
David White, executive vice president for marketing with the Colorado Springs Economic Development Corp., said, "The buzz and excitement we have about Bal Seal is extreme."
A Bal Seal official told commissioners the company plans to double its size in the next five years, and all the expansion is planned for El Paso County. He said 20 percent of the new hires will move here from California.
In other business, commissioners approved an expected 3 percent raise and a year-long contract for County Administrator Jeff Greene, who will be paid $141,110 next year.
"I'm surprised he actually wants to reapply for the job," Commissioner Peggy Littleton quipped. "I appreciate all of his coaching, counseling and leadership."
Board of Commissioners Chair Amy Lathen commended Greene for an "extraordinary job" of helping commissioners collaborate with other agencies and business partners, and then told him, "You don't get enough Gummy Bears, Jeff." (Greene apparently has a soft spot for Gummy Bears.)
Speaking of collaboration, commissioners also approved a deal with the city of Colorado Springs to provide security for city buildings. The city will pay the county about $555,000 a year.