Thursday September 5, 2013 1 comments
By Steve Porter
LOVELAND - DataTraks, a company that specializes in automation and safety in the rail industry, is the first signed tenant of the Rocky Mountain Center for Innovation and Technology (RMCIT) in south Loveland.
Jim Bilodeau, DataTraks' founder and president, said his company signed a lease with the center's owner, Kentucky-based Cumberland and Western Resources, last week.
Bilodeau said he's not certain when the company will move from its current location at 214 E. 4th St. but did say it should happen in the next 60 to 90 days.
"We have some tenant finish work to do first," he said.
Terms of the lease were not disclosed. Robbie Roberts, a spokesman for Cumberland and Western, said he could not divulge any details due to confidentiality.
Founded in 1998, DataTraks has been leasing its current space since 2005, Bilodeau said. He said the company's growth and limited parking space were key factors in making the move.
"We're kind of cramped here," he said, noting that the 7,000-square-foot space DataTraks will occupy at RMCIT is nearly double the company's 4,000 square feet of usable space.
DataTraks currently employs 10 people, and Bilodeau said the larger space will likely allow for more hiring but not immediately.
"We've hired three people this year and I think for the very near term we'll stay with the staff we have, but as we continue to grow I know we'll be hiring some more," he said.
Bilodeau said the move to RMCIT is an exciting prospect for his company.
"We're very excited from two standpoints," he said. "I live in Loveland, and I'm happy to see somebody finally moving into that space.
"As a company, we're excited to be the first space and will be more excited to have some cool companies move in next to us."
Located at 815 14th St., the former 800,000-plus-square-foot Agilent Technologies campus was purchased from the city of Loveland by Cumberland and Western for $5 million in late 2011.
Marcie Erion, a city of Loveland spokeswoman, said the DataTraks lease is a hopeful sign for the city.
"We are excited to announce the first lease at RMCIT," she said. "DataTraks is a growing high-tech company that fits perfectly with the concept of a high-tech campus. They will provide momentum for additional leases and help to create the synergy that will benefit all the tenants.
"We look forward to watching their business grow and helping to revitalize the campus that has meant so much to the community."