Scythe Robotics confirms state incentive offer
Scythe Robotics Inc., the Longmont developer of autonomous commercial lawn mowers, has confirmed to Bizwest that it is the unnamed company that last week received an incentive offer from the state to expand its production facility.
The Colorado Economic Development Commission signed off unanimously on the offer of $372,000 over five years from its strategic fund to a company then referred to using the pseudonym Project Eldorado in an effort to coax the firm into choosing Longmont for its planned 50,000-square-foot manufacturing site.
It is the commission’s practice not to identify companies that the Colorado Office of Economic Development and International Trade is recruiting until incentives are accepted.
When the offer was extended last week, evidence suggested that Scythe Robotics was the company behind Project Eldorado. A spokesman representing the company later confirmed Bizwest’s speculation.
Scythe, the creator of an autonomous mower that uses eight HDR cameras and a suite of sensors to detect and avoid people, animals and other obstacles, has 37 employees, 28 of whom are in Colorado, and expects to create 394 net new jobs at an average annual wage of $116,881, according to OEDIT documents. New positions will include engineers, manufacturers, and roles in sales and operations.
The incentive package is contingent upon a local match by Longmont, the Longmont Economic Development Partnership or other community partners.
Project Eldorado must boost its production capacity to reduce its order backlog, which stretches into 2025, a company representative now confirmed to be Scythe vice president of finance Leo Jiang told the EDC last week.
“There’s a lot of interest out there for something brand new in the industry,” he said.
Scythe is also considering Florida and Texas for its manufacturing facility.
This article was first published by Bizwest, an independent news organization, and is published under a license agreement. © 2022 Bizwest Media LLC.