FORT COLLINS — Innosphere is one of four organizations getting a significant investment from the Colorado Office of Economic Development and International Trade (OEDIT), which is giving $2 million through the Advanced Industry Accelerator Grant Program.
Innosphere is a recipient of a Collaborative Infrastructure Grant of $300,000 for its Fort Collins campus. The funds will be used for constructing 7,800 square feet of additional lab space for lease to address the growing bioscience industry in Northern Colorado. The project is a collaboration with Colorado State University, city of Fort Collins and UCHealth North. The additional space will serve six to eight new companies.
While owning a building seems like something every successful business should do, that’s not always the case. For many companies, it makes more sense to continue leasing space, freeing up time and capital that can be better utilized in other ways.
Additional funding went to the Denver South Economic Development Partnership in Englewood for its creation of the Colorado Smart Cities Lab ($500,000); the Catalyst Campus in Colorado Springs for building a repository of data related to space programs ($700,000); and to Vartega Carbon Fiber Recycling in Golden for building three innovation centers in Colorado focused on the development and application of fiber-reinforced thermoplastics ($500,000).
The Advanced Industry Accelerator Program was created in 2013 to promote growth and sustainability in Colorado’s advanced industries.