Danish firm to expand to Loveland’s Forge Campus

LOVELAND — Denmark-based Multicut A/S will open a manufacturing and production facility in Loveland’s Forge Campus to produce parts for the U.S. defense industry, Gov. Jared Polis announced Wednesday.

Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade made the announcement during the Space Foundation’s 41st Space Symposium at The Broadmoor in Colorado Springs.

“Multicut’s decision to expand in Colorado shows how our state’s strong international relationships and terrific business environment create good-paying jobs for Coloradans and boost international investment into our state,” Polis said. “I am excited to welcome Multicut, which will create 82 new jobs in Loveland and support the growth of Colorado’s defense industry.”

Those jobs, which OEDIT said would pay more than the average annual wage in Larimer County, will include engineers and operators involved in machining, cutting and related manufacturing tasks.

Multicut will start at the Forge by leasing about 35,000 square feet, but has plans to grow there, Frank Duhring, CEO of Multicut North America Inc., told BizWest, adding that “if we stay that size, something went wrong.”

Duhring said the hiring process would start late this summer, with production beginning in the fourth quarter.

“We need higher-salaried, well-educated people,” he said, “and we expect over a five-year period to be over 80 people in Loveland.”

Multicut’s arrival is a win for the former Hewlett-Packard campus that has become the Forge at 815 14th St. SW, said Jay Dokter, the campus’ principal and general partner.

“It’ll be our pleasure and excitement to have them join us,” Dokter told BizWest. “Their technology is the next level of manufacturing. I’ve never seen anything that automated and that precise.

“And it’s a great fit for the community,” Dokter said. “I’m excited for their type of customers to be here.”

Loveland mayor Patrick McFall agreed.

“The arrival of this company represents exactly the kind of strategic growth Loveland has been working toward; bringing high-quality jobs to our community, attracting international business, and expanding our presence in aerospace, leading-edge robotics and precision manufacturing, while continuing to position our city as a place where innovation and opportunity can thrive,” McFall said in a prepared statement.

Dokter said up to 83% of the Forge Campus is leased now, “which we’re extremely happy about.

“We want companies with professional employees — and no data centers.”

Multicut’s advanced manufacturing system rethinks processes to allow for completion of complex parts in one setup, reducing time while ensuring quality and scalability. The company’s customer base includes Lockheed Martin, Planet Labs, Raytheon and Vestas among others.

Establishing a manufacturing facility in Colorado will enable the company to meet growing demand in the United States while building long-term capabilities in ultra-precision manufacturing, automation and robotization, scalable production and world-class quality systems, according to OEDIT officials.

“Colorado’s advanced manufacturing sector is diverse and growing, and we are thrilled to welcome Multicut to Loveland,” said OEDIT executive director Eve Lieberman. “Their innovative approach to precision manufacturing will benefit our state’s and the nation’s space, defense and energy sectors while creating good-paying jobs for Coloradans.

To support the company’s expansion in Colorado, the Colorado Economic Development Commission approved up to $1,038,878 in a performance-based Job Growth Incentive Tax Credit for the company over an eight-year period. These incentives are contingent upon Multicut, referred to as “Project Hedge” throughout the OEDIT review process, meeting net new job creation and salary requirements.

Larimer County Economic and Workforce Development is supporting Multicut’s successful integration into the Northern Colorado industry and talent ecosystem, helping connect the company to workforce resources and talent pipelines that enable growth and long-term success.

As the local administrator for the state Enterprise Zone, Larimer County also introduced the Enterprise Zone Tax Credit program incentivizing future company investments and growth, which was a contributing factor in Multicut’s decision to locate within the Loveland Enterprise Zone.

Multicut was founded by two entrepreneurs in 1998 as a machine shop — but one with ambitions.

“As a Danish company, we value long-term partnerships, innovation, talent and a collaborative business environment,” Duhring said. “Colorado delivers on all parameters. We are excited and proud to expand our presence here and to contribute to Colorado’s dynamic advanced manufacturing ecosystem.”

In addition to Colorado, Multicut considered California and Arizona for expansion. The company has 219 employees in Denmark and one in Colorado.

Expanding investment opportunities between Denmark and Colorado has been a strategic priority for the Polis administration. In June 2024, Polis joined officials from the Global Business Development Division and the Colorado Department of Natural Resources on a mission to Nordic countries, including Denmark, to explore investment opportunities.

Multicut was one of two companies offered incentives in March that were considering establishing facilities in Northern Colorado or the Boulder Valley. 

The EDC also approved an incentives offer to a company codenamed “Project Rhein,” which, according to OEDIT, “specializes in developing and manufacturing cardiovascular diagnostic and therapeutic devices.” Its “primary investor is searching for a U.S. location to increase manufacturing capacity,” the EDC said, and is considering Boulder and Weld counties. Beyond Colorado, the company is also mulling New Mexico, Arizona and Texas for its manufacturing expansion.

The tax-incentives offer totals up to $2,580,715 over eight years.

To receive that full value, “Project Rhein” — which currently has 200 employees, 120 of whom are in Colorado — would have to create 190 new jobs that pay an average annual wage of $107,158. New jobs are expected to include assembly operators, quality inspectors, engineers and technicians.

Share on Facebook on LinkedIn