At a Thursday morning press conference, Colorado Springs Chamber & EDC CEO Dirk Draper introduced two new members of the Colorado Springs business community — Investortools, Inc, a Chicago-based financial software firm; and Software Builders, their primary independent contractor.
The two firms have leased space at 5555 Tech center Drive and the Colorado Springs operation will accommodate up to 45 employees before further expansion is needed. Initially, 10 employees will staff the facility, a number that is projected to increase substantially during the next two years.
According Bloomberg, “Investortools, Inc. provides portfolio management, credit analysis, and total return risk analysis software solutions to institutional investment organizations. The company offers Perform, a fixed income portfolio analysis system that combines portfolio reporting, total return analysis, simulations, presentations, and historical analysis into one complete package; Custom Index Manager, a portfolio risk and total return attribution system, which also contains individual index bonds; and Smart, a compliance monitoring system for use by portfolio-manager operations and short maturity managers in fixed income. It also provides CreditScope, a credit analysis software system.”
“By opening an office in Colorado Springs, we are making an investment in the future of the company,” said Investortools Vice President Mike Green. “We are bringing together several different development and client service teams currently spread across the country to better serve our existing client base as well as help foster and take new products to market.”
Investortools Vice President Jon Anderson said, “We worked closely with the Chamber and EDC to establish this office, and were impressed by the community effort we saw to promote growth.”
“We started [the relocation process] by asking, ‘Where do our employees want to go?’” said Green. “We’re a very family-friendly company, we don’t have much turnover, so we asked ourselves where a young family would want to be. Colorado Springs moved pretty quickly to the top of the list.”
“The Chamber/EDC team was very welcoming and very thorough,” Anderson said. “We met with lots of people in the community, talked to representatives of the Fine Arts Center and really got a sense of the city. Locating up north means that we have good access to [Denver International Airport], and that’s important to our business.”
In welcoming the two companies to Colorado Springs, El Paso County Commissioner Stan VanderWerf noted that qualified employees should be easy to find.
“Software drives our national economy,” VanderWerf said, “and good software makes our lives better. We have a skilled workforce, and thousands of military retirees who often have programming skills.”
Will the company eventually move its headquarters to the Springs?
“We have some performance-based incentives,” said Green, “so yes, that’s a possibility. We’ll probably make that decision in the next year or two.”
“From our first meeting with the Investortools team, we recognized they were a great match for our city. We are so pleased they agree with us,” Draper said.
Founded in 1983, Investortools currently employs 115 employees and contractors throughout the United States, Scotland and Bangladesh. The company is currently hiring for positions in Colorado Springs. To learn more, visit invtools.com