Gov. Jared Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade formally announced in December that Intelligent Growth Solutions, a Scotland-based agricultural infrastructure company supplying vertical farms to growers has selected Loveland, Colorado for expansion.
“This is a great addition to Colorado’s strong, innovative, and climate-smart agriculture sector. Plus this expansion creates over 100 jobs in Loveland, helps our economy thrive, and contributes to a great future for agriculture,” Polis said.
IGS designs and produces vertical farming equipment that enables indoor growing, eliminates the need for pesticides and fungicides, and reduces water consumption by recycling up to 95%. Because no arable land is required, these systems can also be used to reduce the carbon footprint of food production by locating farms closer to the point of consumption or production. Opening a base of operations in Loveland will allow the company to better support North American consumers, the company’s fastest-growing market.
“The forward-looking approach to economic development within the city of Loveland and the state of Colorado fits perfectly with Intelligent Growth Solutions’ purpose of working with growers to help deliver sustainable food security,” said David Farquhar, CEO of IGS.
“The location of our North American headquarters is a pivotal decision in our evolution as a market leader. We are confident that our new Loveland base will allow our rapidly growing business to continue to expand and thrive on a global platform, as we deliver vertical farming infrastructure to enable real farmers to grow an expanding range of crops reliably, profitably and sustainably because we give them total control of the weather for the first time: designed in Scotland manufactured in Colorado.”
The State of Colorado will provide up to $2,758,845 in performance-based Job Growth Incentive Tax Credits to IGS, referred to as Project Sprout during the OEDIT review process, over an eight-year period. The company currently has 220 employees, one of whom is already in Colorado. In addition to Colorado, the company considered Washington and
Massachusetts.
