Loveland-based tech company first to lease from Cumberland & Western
Loveland, CO – DataTraks (www.datatraks.com), a custom engineering and software solutions company, will move to the Rocky Mountain Center for Innovation and Technology (RMCIT - http://rmcinnovate.com) in Loveland, Colorado. The company will be the first tenant to move into the RMCIT facility, helping to revitalize the currently vacant campus.
As an incentive for DataTraks to move in to the RMCIT campus, the Loveland City Council approved $19,500 to be paid from the Economic Development Incentive Fund to DataTraks. The payment was contingent upon the company signing a five-year lease with Cumberland & Western, and will help DataTraks offset some of the cost of relocating and acquiring equipment. Signing the final lease agreement in early September made DataTraks the first official tenant of the RMCIT facility.
"Since we're first, they wanted to make sure everything was correct," stated Jim Bilodeau, DataTraks’ founder and president. Originally located in downtown Loveland, DataTraks makes a significant change moving to RMCIT, almost doubling their facility space. The company will occupy approximately 7,000 square feet of space in the lower D building of the campus. This expansion comes with further plans to develop additional services and capabilities.
“We’ve hired three people this year, but as we continue to grow we’ll eventually be hiring more,” said Bilodeau. “As a company, we’re excited to be the first in the space, and we’ll be more excited to have some cool companies move in next to us.” With plans to be in the new facility within 90 days, Bilodeau cited limited parking and space for growth as motivating factors in moving his organization to the new campus. Many hope DataTraks’ move will provide momentum that leads to additional leases and an atmosphere that benefits other new tenants.
The design for DataTraks’ new space was done by Kenney and Associates Architects (www.kenneyarch.com) of Loveland. Tenant finish will be completed by Loveland-based R&L Builders.
DataTraks was founded in 1998 to help railroad operators make critical decisions regarding the development and maintenance of safe, effective rail systems. The company provides customized engineering and software solutions for companies around world, in the railroad, manufacturing, and mining industries. DataTraks clients benefit from an experienced team of electrical, mechanical and software engineers dedicated to helping those they serve operate safer and more efficiently. Areas of focus include Positive Train Control (PTC), wireless sensor systems, custom software, non-destructive evaluation, and preventative maintenance. For more information, visit www.datatraks.com, call (970) 461-1140, or email firstname.lastname@example.org.