a meeting of the Colorado Economic Development Commission in March,<\/a> <\/strong>but the identity of the company was not then disclosed.<\/p>\nSPONSORED CONTENT<\/p>\n
Monday\u2019s announcement came from the offices of Gov. Jared Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade.<\/p>\n
\u201cColorado is the best place to live, work and do business, and we are thrilled to see Raven Space Systems expand in Colorado,\u201d Polis said in a prepared statement. \u201cThe company will help advance our state\u2019s thriving aerospace ecosystem.\u201d<\/p>\n
The announcement said Raven expects to create up to 392 net new jobs at an average annual wage of $130,867, which is 119% of the average annual wage in Broomfield County. The company is hiring engineers, technicians, managers, operators and executives.<\/p>\n
Raven has patented a technology called Microwave Assisted Deposition (MAD) 3D printing. Instead of the usual hours or days it takes in an oven for thermoset composites to cure or harden, the MAD process cures it during the printing process, similar to laser-based metal additive printing.\u00a0<\/p>\n
The process can be used for applications including hypersonics, propulsion systems, re-entry vehicles, satellites, aircraft, missiles, and rockets.<\/p>\n
The company\u2019s founders, Blake Herren and Ryan Cowdrey, began working on the technology while they were graduate students at the University of Oklahoma. They landed around $1 million in grants through the Small Business Innovation and Research (SBIR) program, and since 2020, they\u2019ve won around $4.5 million of non-dilutive contracts from clients including the Air Force, NASA and the National Science Foundation. Raven also just closed a $2 million pre-seed round led by Backswing Ventures with participation from 46 Venture Capital, Mana Ventures, What If Ventures, and Cape Fear Ventures.<\/p>\n
Raven will join a thriving aerospace ecosystem in Colorado that is home to more than 2,000 aerospace companies.<\/p>\n
\u201cWe are excited to relocate to Colorado and become part of its robust aerospace manufacturing ecosystem,\u201d Herren said in a prepared statement. \u201cThe support we\u2019ve received has been incredible, and we believe Colorado is the ideal place to scale Raven and maximize our impact.\u201d<\/p>\n
Added OEDIT executive director Eve Lieberman, \u201cColorado is known for its leadership in aerospace and advanced manufacturing, and Raven Space Systems will advance both of these leading industries while creating good-paying jobs for Coloradans.\u201d<\/p>\n
The Colorado Economic Development Commission approved up to $5,852,666 in a performance-based Job Growth Incentive Tax Credit for the company over an eight-year period. These incentives are contingent upon Raven, referred to as \u201cProject Skyforge\u201d throughout the OEDIT review process, meeting net new job creation and salary requirements.<\/p>\n
Mayor Guyleen Castriotta noted that \u201cBroomfield\u2019s thriving and diverse aerospace ecosystem, along with our easy access to the top educational institutions in Colorado, make it the ideal home for Raven Space Systems. This successful partnership with Raven Space Systems exemplifies our approach of fostering innovation, creating a vital economy and moving our community thoughtfully into the future.\u201d<\/p>\n
Before choosing Broomfield, Raven considered Kansas and Missouri for expansion. The company has four employees, one of whom lives in Colorado.<\/p>\n
\u201cRaven Space Systems\u2019 decision to expand to Broomfield affirms Colorado\u2019s position as a leader in advanced industries and next-generation space technology,\u201d Raymond H. Gonzales, president of the Metro Denver Economic Development Corp., said in a news release. \u201cWith a world-class workforce, a thriving innovation ecosystem and a spirit of public-private collaboration, our region continues to attract pioneering companies at the forefront of space exploration and development. This exciting expansion is the result of remarkable teamwork among the Metro Denver EDC, the Colorado Space Coalition, the Colorado Office of Economic Development and International Trade, and the City and County of Broomfield. Congratulations to our partners for helping bring this visionary project to life and for reinforcing Colorado\u2019s role on the global stage as a hub for aerospace innovation.\u201d<\/p>\n
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