(COLORADO SPRINGS) — On Wednesday, Oct. 16, Governor Jared Polis and the Business Funding and Incentives division of the Colorado Office of Economic Development and International Trade (OEDIT) announced three new recipients of the Innovative Housing Incentive Program (IHIP) grant, including one from Colorado Springs. This grant supports the Polis administration’s efforts to boost Colorado's housing supply, funding over 480 new attainable housing units. “We need more housing now, and this new round of IHIP grant funding will help create 480 new housing units for Coloradans,” said Governor Polis. “With more housing, more people will be able to live in terrific communities close to work and recreation.” In this latest round, the Polis administration awarded 12 IHIP grants, funding 2,000 attainable housing units and supporting efforts to create over 7,500 more in the next three years. “The Innovative Housing Incentive Program Is making a measurable difference in Colorado’s housing supply, and we know that impact will grow over time,” says Eve Lieberman, Executive Director of OEDIT. “We’re proud of the work these companies are doing to address Colorado’s housing shortage and help us ensure that our state has housing for every budget.” All three grant recipients are Colorado-based, with awards ranging from $100,000 to $722,000 in performance-based funding. Recipients include: 3D West (Colorado Springs) — Specializing in modern building technologies for Accessory Dwelling Units (ADU), affordable housing, and multifamily units, 3D West plans to build its first four units with Alquist 3D and StructureBot. The company is approved for up to $100,000. BYLD (Commerce City) — A software and hardware company revolutionizing construction with its "paint-by-numbers" approach, significantly reducing labor costs and accelerating timelines, BYLD is approved for up to $722,000 to construct over 350 units statewide over three years. Studio Shed (Louisville) — A leader in panelized kit buildings since 2008, Studio Shed is approved for up to $180,000. The company will offer a $1,500 discount per unit to customers. The Innovative Housing Incentive Program (IHIP) addresses Colorado’s housing shortage by supporting the growth of housing manufacturing businesses. IHIP is among the programs offering housing financing tools to increase affordable housing across the state. OEDIT partners to create a business-friendly environment, supporting economic development and job growth under Governor Polis. The office provides financial and technical assistance, offering programs for business retention, relocation, and funding.