Woodward defection would mean millions lost
It’s a question few in the business community want to consider, for good reason: The company contributed some $130 million in payroll and benefits to its 1,300 Northern Colorado employees in 2011.
It also created slightly more than 1,700 indirect jobs, adding $75 million more in payroll dollars in the regional economy.
According to a fiscal analysis performed by CSU economist Martin Shields, the manufacturer of control-systems technology for the energy and aerospace industries contributed more than $1.6 million in total tax revenues to Larimer County in 2011.
Moreover, Shields estimated that Northern Colorado expenditures by the company’s employees amounted to $48 million in 2011, buying automobiles, groceries, clothing and so on.
The numbers are impressive, and are alone reason enough for economic development officials to want to keep the company in Northern Colorado. Woodward is pondering an expansion and relocation of its headquarters at the moment, and while Fort Collins appears to be the frontrunner, company officials have said that three states and more than 20 sites were in
More breaking news...
Fort Collins: Eleventh Floor of First National Tower Sells
Fort Collins-based Brinkman Partners, Woodbury Corporation and the City of Loveland will host
Moody's: OtterBox LifeProof acquisition valued at $325 million
The new owner, Dean Dunn, plans