Colorado Springs City Council approves CHIPS Zone plan

COLORADO SPRINGS, Colo. (KKTV) – Colorado Springs is one step closer to becoming a CHIPS Zone following the City Council’s approval of a resolution on Monday.

The CHIPS Zone Program was created through Colorado House Bill 23-1260 to maximize incentives available to eligible semiconductor companies in the state. Municipalities, counties, and groups of the two can apply to designate a geographical area within their governance as a CHIPS Zone.

According to the City of Colorado Springs, becoming a CHIPS Zone would allow eligible businesses to apply for state tax income credits for new employees, research and development, investment and more.

The city said this can strengthen local supply chains and keep jobs in Colorado Springs, as well as support the growth of companies involved in semiconductor design, production, and advanced manufacturing.

“I want to thank City Council for advancing this important opportunity for Colorado Springs,” Mayor Yemi Mobolade said.

“With their approval of the proposed CHIPS Zone boundaries, we’re reinforcing our legacy as a high-tech manufacturing hub and accelerating our momentum as ‘Silicon Mountain.’”

The proposal now goes to the Colorado Economic Development Commission for final consideration.

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