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7 Companies Could Bring More Than 1450 Jobs To Colorado
From the Denver Business Journal 12/15/16
By Ed Sealover Reporter
Colorado Economic Development Commission members offered $19 million in incentives Thursday to seven companies that could bring more than 1,450 combined jobs to the state, including a rare duo of independently owned businesses that are looking to expand into the same market together.
The incentives — none of which will be paid before a company has chosen Colorado and had workers in place for at least a year — mark the latest in a year-long continuation of offerings by the appointed board overseeing the Colorado Office of Economic Development and International Trade to try to bring company expansions or headquarters relocations to largely Front Range destinations.
The success of such incentives can be seen in projects like the headquarters of BP’s Lower 48 business announcing Wednesday that it will move from Houston to Denver — a headquarters that was recruited heavily by state officials, including Gov. John Hickenlooper, and was aided by a deal to offer as much as $9 million in job-growth incentive tax credits.
“It’s a wonderful opportunity again to establish Colorado as a place that can accommodate large-scale headquarters,” OEDIT executive director Fiona Arnold said at the EDC meeting. “Having a headquarters of that stature brings a lot of attention to what is going on in Colorado.”
Thursday’s incentive offerings are for companies that are in a variety of industries that could bring anywhere from 500 to a few dozen jobs to the state. Those — all of which are listed under code names by OEDIT to protect the confidentiality of companies — include:
$7.1 million for “Project Peter,” a Colorado-based advanced manufacturing company working with the aerospace and energy industries that is looking to expand its operations by about 500 employees in either the Fort Collins area or in South Carolina;
$4.4 million for “Project Puzzle,” an Iowa-headquartered benefits-administration software maker with an office currently in Englewood that is considering Colorado among four states for an expansion of 294 workers;
$4.35 million for “Project Rolling,” an international company that makes consumer food products and is considering the metro Denver area among several national locations for a potential growth of 155 employees;
$1.1 million to “Project 5738,” a Midwestern food manufacturer that currently has no workers in Colorado but is considering Adams County and Weld County among five states as a potential home for a new $340 million, 250,000-square-foot production factory that would employ 382 people.
$620,897 to “Project Thunderbird,” a title-insurance company looking to expand its headquarters in either Arapahoe or Douglas counties and create 38 new jobs;
$865,552 to “Project Pikes” and $568,626 to “Project Peak,” a rare pairing of independent companies that are looking to expand their presence together to the Western U.S. and locate in the same office. Project Pikes offers credit- and risk-management software to institutional investment organizations and Project Peak is the company that develops the software for the company. The companies are focusing on El Paso County, as well as several other states, and could bring as many as 89 new jobs to the area.
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