Scots vertical farming firm Intelligent Growth Solutions selects Stateside location to deepen North American roots
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The organisation, which describes itself as an “agricultural infrastructure” company, designs, produces and maintains vertical farming technology that it says enables indoor growing anywhere, eliminates the need for pesticides or fungicides, and can lower the carbon footprint of food-growing by locating farms closer to the point of consumption or production, as well as reducing water use by up to 95 per cent.
It says opening a base of operations in Loveland will allow it to better support North American customers, who represent its fastest-growing market, and tap into a “strong, skilled” labour pool. Overall, IGS expects to create 114 net new jobs – including engineers, supply chain managers, human resource and legal managers, as well as roles in marketing and sales – at an average annual wage of $98,991 (£83,425), which it says is 183 per cent of the average annual wage in Larimer County. What’s more, the State of Colorado will provide up to about $2.8 million in performance-based Job Growth Incentive Tax Credits to IGS.
The Scottish company, which a year ago announced a £42m Series B funding round, backed by institutional investors from Dundee, Chicago, and Switzerland, currently has 220 employees, one of whom is already based in Colorado.
IGS boss David Farquhar said: “The location of our North American headquarters is a pivotal decision in our evolution as market-leader. We are confident that our new Loveland base will allow our rapidly growing business to continue to expand and thrive on a global platform, as we deliver vertical farming infrastructure to enable real farmers to grow an expanding range of crops reliably, profitably and sustainably, because we give them total control of the weather for the first time – designed in Scotland, manufactured in Colorado.”
Patrick Meyers, executive director at the Colorado Office of Economic Development and International Trade, said: “Innovative companies like IGS are building on Colorado’s strong agricultural heritage to create a future-thinking [agricultural technology] industry that will feed communities and support a thriving economy across our state. We are pleased to see Loveland become IGS’s North American headquarters and look forward to celebrating future accomplishments.”