The national governing body for an unnamed major Olympic sport overseeing six disciplines is considering building a large-scale Training and Wellness Center in Colorado Springs, envisioned to be the "heart and hub" of the sport in the United States.
On Thursday, the Colorado Economic Development Commission approved more than $1.5 million in incentives to attract the company to Colorado Springs, the self-branded Olympic City USA. It's home to the U.S. Olympic & Paralympic Committee headquarters, more than 20 national Olympic governing bodies and the only U.S. Olympic & Paralympic Museum in the country, among others.
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The commission approved $552,500 in performance-based Strategic Fund Job Growth Incentives and $1 million in a performance-based Strategic Fund Initiative, both over five-year periods, based on the potential sports tourism and new jobs the project could generate.
The unidentified nonprofit, code name Project Kiwi, wants to build and operate "a full-service, high-performance, multi-use facility that can accommodate the training and wellness needs of all competitive disciplines within the sport" in a secure location, according to a project description from the state commission. The new campus will further the nonprofit's mission to "build a community and culture of health, safety and excellence where athletes can thrive in sport and life."
The proposed campus would consolidate the organization's divisions to a single location and include space for educational events, competitions and administrative needs. The new site will include the nonprofit's headquarters operations within Colorado Springs.
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The project requires several different facility types, and the new training center, if it came to the city, would be co-located at the William J. Hybl Sports Medicine and Performance Center at the University of Colorado Colorado Springs, said Mike Landes, senior business development manager at the Colorado Office of Economic Development and International Trade.
The $61 million Hybl Center is one of five venues built as part of Colorado Springs' illustrious City for Champions collection attracting new visitors to the city, surrounding Pikes Peak region and Colorado. The state awarded the city about $120.5 million in state tax increment financing over 30 years in 2013 to help finance City for Champions.
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With one division of the unnamed sport's competitive areas already in Colorado Springs, the city has an advantage over its competition, Landes said. The national governing body is also considering two other cities for the project, including Indianapolis.
"We are delighted to see the state's previous $120 million support for City for Champions is a strong attractor that will hopefully win this investment," Landes said. He added that other venues such as Ed Robson Arena at Colorado College and the U.S. Olympic & Paralympic Museum strengthen Colorado Springs' position for the new training and wellness center.
If the organization chooses Colorado Springs, it is expected to create 85 new jobs at an average annual wage of $97,235, which is 153% of the average annual wage in El Paso County.
The incentives are contingent upon several conditions.
The nonprofit must create and maintain for one year up to 85 new permanent full-time jobs at the minimum average annual wage of $88,707, 140% of the average annual wage in the county. Or, it must pay out $3,000 per net new job for the creation of up to 85 new jobs if the average annual wage is at least $63,362, 100% of the county's average annual wage, at the end of the five-year term.
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The city and UCCS must match the incentives dollar-for-dollar, and/or grants from other community partners must match the state's payout and term structure.
State funds must be used to develop the facilities, construction must be completed, the nonprofit must supply the state a sustainability plan and financial reports, and it must run and maintain operations at the new facility for six years.
Though unnamed, the organization matches the description of USA Gymnastics, based out of Indianapolis.
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As the national governing body for gymnastics in the U.S., it oversees six disciplines: acrobatic, artistic, gymnastics for all, parkour, rhythmic, and trampoline and tumbling, according to its website.
It is a member of the U.S. Olympic & Paralympic Committee and International Gymnastics Federation. The organization serves almost 200,000 members, including athletes from the beginner to elite levels, parents, coaches, clubs and club owners. It also supports U.S. teams for the Olympic Games, World Championships and other national events, the website says.
Jon Mason, vice president of strategic communications at the U.S. Olympic and Paralympic Committee, declined Thursday to comment on the identity of the anonymous national governing body "out of respect for the process and the parties."
USA Gymnastics did not respond to The Gazette's request for comment.
The Economic Development Commission on Thursday also approved more than $5.2 million in performance-based Job Growth Incentive Tax Credits, all over eight-year periods, to attract various other companies to Colorado, including two in El Paso County.
Additionally, it approved $6.5 million in refundable tax credits through the CHIPS Refundable Tax Credits Program for Project Beryllium, an anonymous "renowned, global leader in innovative memory semiconductor solutions" located in Longmont and considering expanding there.
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