(COLORADO SPRINGS) — A new, high-tech semiconductor manufacturing company is coming to the Pikes Peak Region, bringing millions of dollars and hundreds of jobs. State and local leaders are calling it the largest advanced manufacturing project in Colorado Springs and El Paso County in the past five years.

“This is a big, big win for Colorado Springs,” said Mayor John Suthers.

After a highly competitive nationwide selection process, Entegris, which is a global supplier of electronic materials for the semiconductor and other high-tech industries, has chosen Colorado Springs for its new facility. Governor Jared Polis and Senator John Hickenlooper joined Mayor Suthers for the announcement, held at the U.S. Olympic and Paralympic Museum.

At Tuesday’s event, the CEO of Entegris announced their plans on investing $600 million dollars into the construction of their new semiconductor plant, which is expected to create 600 new jobs over the next several years.

“This new state-of-the-art facility gives the opportunity to drive innovation and jobs in our state,” said Governor Polis.

This is only the latest in a string of semiconductor plants popping up around the country, following the passage of the CHIPS and Science Act, which received bi-partisan support back in July. 

“This project, where we have Republican Mayor John Suthers, you’ve got a Democratic Governor Jared Polis, both working hand in glove… The CHIPS and Science Act was intended to create this kind of feeding frenzy of, ‘We’re going to invest, we’re going to invest,’… Suddenly, the whole industry and our whole country begins to move forward,” said Senator Hickenlooper.

The facility will be developed at the former Hewlett Packard (HP) industrial site that has been dormant for about a decade. It is located in the Northwest area of Colorado Springs, where residents are having mixed feelings about this development.

“They might have purchased a property out in a rural area, and then the city is expanding towards them, and that was not necessarily what they were interested in. So I can appreciate and understand some of those concerns,” said El Paso County Commissioner, Stan VanderWerf. “But I have also heard comments expressing gratitude… because, for them, it may be a great job for their child when they graduate.”

Entegris has already had a decades-long history in the state as well as in the Springs, which was one of the driving factors in choosing this city over other states. Another reason was the city’s talented workforce, which the CEO believes can be cultivated locally.

“The type of talent that we need is engineers, chemists, and scientists and we believe by working very closely with the local universities we should be able to get access to all of the right talent,” said Bertrand Low, President and CEO of Entegris.

Other jobs include managers, technicians, and warehouse operators, all with a projected average annual wage of nearly $75,000.

The new campus will be built in phases, with its initial phase including a $100,000 square-foot facility that is targeted to begin commercial operations in mid-2024.