Loveland offering Greeley business $300,000 to relocate
May 20th, 2009
In a 6-2 vote Tuesday, the Loveland City Council decided to offer Crop Production Services $300,000 for executing a lease for office space at Centerra. Crop Production Services is currently located in Greeley and employs 250 people.
The money comes out of the City Council Economic Development Incentive Fund. The fund, allocated $350,000 annually, is meant for primary employers — those that export more than 50 percent of their goods and services outside of Larimer County — that pay average wages 150 percent higher than the county average. CPS’ average annual wage is 160 percent of the county’s average annual wage.
Colorado State University professor and regional economist Martin Shields indicated the company would bring Loveland a net fiscal impact of up to $600,000 during the next five years, assuming the company adds 100 new positions. The number of positions was determined using information from the site selector, the company, CSU and the Northern Colorado Economic Development Corp.




