Brighton approves tax breaks for Transwest
The move by Transwest, an Adams County company that sells trucks and commercial fleets, will generate nearly 250 jobs, the city said in a statement this week. As part of the deal, the city will collect $1 million in new revenue and rebate $500,000 to Transwest.
"We've traditionally been aggressive and successful in attracting businesses, jobs and investment to our city, and with this agreement, we are also being prudent," Mayor Dick McLean said in the statement. "These incentives are only available once the project performs successfully."
Transwest's headquarters, in the Bromley Interstate Business Park at Bromley Lane and Interstate 76, will bring more than $27 million in new construction and development. It's expected to generate $3 million in new taxable sales in the city.
An economic analysis shows the local economy will see more than $8 million in additional activity annually as a result of the relocation. The company boasts an average wage of $58,000 for its employees.
Transwest also anticipates an additional 50 new jobs over three years.
Company President George Eidsness said the new location will help Transwest "realize our growth potential (because) it is strategically located along the growing I-76 corridor with easy access to Highway 7 and E-470."
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