For Immediate Release:
For more information:
Jack Rink
PEDCO CEO & President
jrink@pedco.org
719-544-2000
Pueblo, Colorado Announces $35 Million Dollar Fund to Assist Targeted Industries Accelerator
Act in Partnership with New State of Colorado Initiatives
Pueblo, Colorado, June 7, 2013 ---- the city of Pueblo, Colorado has announced an extraordinary
program to complement the new initiatives from the State of Colorado. Pueblo Economic
Development Corporation announced a matching grant program with a $35 Million cash fund in
conjunction with Gov. John Hickenlooper’s Advanced Industries Accelerator Act. Pueblo has
identified a handful of specific industries of focus within advanced industries; manufacturing,
aerospace, defense, electronics, food and agriculture, tourism, and transportation logistics.
Any company wishing to qualify can contact the Pueblo Economic Development Corporation in
Pueblo, Colorado.
Pueblo, Colorado has a unique program where citizens tax themselves to create a cash fund
that companies can use towards brick and mortar expenses. These funds can be used for
construction, building or land acquisition, site improvements and even equipment purchases.
The program can be used independently or in conjunction with the new initiatives from the
State of Colorado.
The state program provides grants to advanced industries for proof of concept research and
development, early stage capital and retention, and infrastructure. The program will be
managed out of the Colorado Office of Economic Development and International Trade (OEDIT),
which will work with research institutions, industry partners and the Economic Development
Commission to qualify companies and disburse funds. The new state program will create new
highly-skilled jobs, increase exports, drive innovation and capital investment and promote
Colorado’s research and development activities.
Pueblo can sweeten the deal being offered by the State of Colorado by offering additional cash
incentives to companies in the advanced industries sector that are interested in relocating or
expanding their business to Pueblo. Both the state of Colorado and Pueblo have the workforce
and infrastructure needed to attract companies, but Pueblo can go one step further with being
able to offer up to $35 million in cash incentives to qualifying companies.
301 N Main St. - Pueblo, CO 81003 – 719-544-2000 – www.pedco.org
“Companies come to Colorado for the right reasons. The location fits their business model. The
incentives are a wonderful additional benefit that reduces the cost and burden of expanding to
a new location. If we can help the process by expediting the project through permitting and
adding a cash value then the company can concentrate on hiring employees and becoming
profitable as soon as possible,” said Richard Werner, Vice President of Pueblo Economic
Development Corporation.
“Pueblo is an ideal location for companies to do business, we’ve got available space, ready and
available workforce and thanks to the citizens of Pueblo, we also have unbeatable incentives to
offer,” said Pueblo City Manager, Sam Azad.
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The Pueblo Economic Development Corporation (PEDCO) is the organization charged with the
responsibility of growing Pueblo’s business and industrial base and creating more primary jobs
in the process. PEDCO defines people with primary jobs as those who work for a company that
derives most of its revenue from outside the community, thus bringing additional funds to the
city. The organization’s membership is comprised of the community’s business, academic,
cultural, not-for-profit and government leaders. More information can be gained by visiting
www.pedco.org.
301 N Main St. - Pueblo, CO 81003 – 719-544-2000 – www.pedco.org