(COLORADO SPRINGS) — WMB Squared Engineering is opening a new location, and it has picked Colorado Springs as its new home. On Thursday, Oct. 10, Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that the engineering company had selected the Olympic City for expansion. WMB Squared Engineering will create 42 new jobs, with positions including engineers and sales professionals. According to the Colorado Springs Chamber, the newest jobs will have an average annual wage of $79,286. "WMD Squared will be an asset to the Colorado Springs community and the state, supporting the development of new technologies and products. We’re excited to welcome the company to the state and grateful for the many partners that make these types of expansions possible so we can create new, good-paying jobs for Coloradans,” said OEDIT Executive Director Eve Lieberman. The engineering company will settle downtown at Catalyst Campus, 555 E Pikes Peak Avenue, Suite 120-4. The company will also focus on fulfilling a new contract with the United States Coast Guard and the United States Navy. “WMD Squared will bring engineering expertise to support Colorado Springs’ thriving aerospace and defense and med-tech industries, which are crucial to national security and the quality of life for millions in the United States,” said Johnna Reeder Kleymeyer, President & CEO of Colorado Springs Chamber & EDC. “Economic development is a team sport. We were pleased to partner with Apex Accelerator to bring WMD into our region.” The Colorado EDC approved up to $299,115 in a performance-based Job Growth Incentive Tax Credit for the company over eight years. In addition to Colorado, the company considered Missoula, Montana, and Portland Oregon, for expansion.