An early-stage Indian technology company is relocating to Fort Collins to put down roots for its U.S. headquarters.
Square Comp is a startup that offers customizable virtual reality training platforms for manufacturing. It provides clients with customized training curricula that puts production employees in environments similar to actual production floors, without the dangers of training in the facilities.
Square Comp first became acquainted with Colorado during Gov. Jared Polis’s trade mission to India in November 2019.
“Good-paying jobs continue to expand across our Front Range tech corridor from Colorado Springs to Fort Collins,” Polis said in a statement. “Square Comp is a great addition to Fort Collins and Colorado continues to feel the economic benefit of my first Foreign Direct Investment mission to India in 2019.”
As it grows, Square Comp wants to enter the U.S. market to tap the density of manufacturing companies that exist across the country.
In searching for locations to open its headquarters, the company targeted markets that have a “dense tech ecosystem to support their talent and employment needs.”
“We are excited to choose Fort Collins, Colorado, as our base of operations which will serve the entire market of not only Colorado and the United States, but also Europe,” said Square Comp founder Srinivasan Yagnanarayanan in a statement.
The new headquarters will lead to the creation of 54 new full-time jobs in Fort Collins, spread across management, software and web development and operations. The projected average annual salaries will be nearly $71,000, which is 132% of Larimer County’s average annual wage of $54,145.
The first news of the potential expansion came out in mid-April, as Square Comp was offered as much as $494,747 in Job Growth Incentive Tax Credit under the codename Project Minecraft.
The company, which had no employees in the U.S. at the time, was considering either Fort Collins or Northern California's Bay Area for a U.S. headquarters.
