Expanding firms invest $5 million and create 54 jobs
Phil Castle, The Business Times
Thirteen businesses in the Grand Valley have invested a total of more than $5 million and added a collective 54 positions to their payrolls, according to the latest results of a quarterly tally of expanding operations.
The Grand Junction Area Chamber of Commerce compiles a list of expanding businesses to honor at quarterly membership luncheons as well as highlight the importance of growing local enterprises to economic development.
“That’s kind of an important thing to make note of,” said Diane Schwenke, president and chief executive officer of the chamber.
The collective results of the latest list are as significant, Schwenke said, as if a single company announced plans to relocate to the area, spend $5 million on facilities and hire 54 people.
“We’d be jumping up and down,” she said.
The DoubleTree by Hilton accounted for $2 million of the slightly more than $5 million in capital investments with a renovation project at the Grand Junction Hotel.
Jerry’s Outdoor Sports invested $1.1 million in relocating to a different building that more than doubled the square footage available to the outdoor sporting goods retailer. Jerry’s Outdoor Sports also added seven positions to its payroll after moving to the larger quarters.
DT Swiss, a bicycle component manufacturer in Grand Junction, invested $950,000 in capital improvements and added three positions to its payroll. CPC Solutions, a printing company, invested $700,000 and added two to payrolls.
In terms of increased hiring, Bulldog Machine & Production in Grand Junction led the way with 18 new jobs. The business offers a range of services and products to the energy industry.
E-Waste Recyclers of Colorado added 13 positions to its payroll as well as invested $70,000 in capital improvements in relocating to a larger facility. The company recycles electronics and recently added digital data destruction services to its operation.
Seven other businesses also were honored for making capital investments or creating jobs: Grease Monkey, Habitat for Humanity, Harrah’s, Rapid Response of Western Colorado and Paragon Restoration & Building, Wax What and the Winery restaurant.
Schwenke said the latest listing of expanding businesses compares favorably with past quarters. While 55 new jobs were reported in the second quarter, less than $2.5 million in capital investments were made. In third quarter of 2011, 72 new jobs were reported, but capital investments totaled less than $1million, she said.