A trio of Commerce City companies has decided to stay put, despite intense pressure to leave Colorado for cheaper locations, and to be closer to their competitors. The decision will create an additional 150 jobs and pump more than $30-million into the local economy.
Cummins Rocky Mountain, U-E Compression, and Precast Concepts produce materials needed for the oil and gas industry as well as utility companies.
Ken Lund is the Executive Director of the Colorado Office of Economic Development. He says keeping these companies in Colorado – and having them expand operations – proves that the state’s ‘bottom up’ approach to economic recovery is working.
“We think that’s been effective, today’s results are reflective of that. There are a number of local partners that we’ve worked closely with in this process, with these great companies, but also in many great communities throughout the state of Colorado.”
Eric Sparks is Executive Vice President of Cummins Rocky Mountain. His company had originally planned to move out of state.
“As we started working with the city, the state, and county, it became evident to us that the opportunity for support was enough that it made sense to transition that investment to the Colorado area.”
Precast Concepts has already hired 12 new employees for their expansion. Cummins and U-E Compression look to start hiring early next year.
All three received financial incentives of around $937,000 from State, County and Local agencies.
