Thursday, December 18, 2014

Manufacturing facility pulls plans for Limon Facility

A plan to construct a manufacturing facility in Limon has been withdrawn, according to a press release from Lincoln County Economic Development.

In May of 2014 the Town of Limon and Lincoln County Economic Development were excited to announce that a new business planned to locate its manufacturing facility in the Town of Limon, Lincoln County. The light manufacturing facility was scheduled to begin with 25 employees and was expected to grow in future years.  A partnership of the Town of Limon, Lincoln County, Lincoln County Economic Development, Colorado Department of Local Affairs and Colorado Office of Economic Development worked with the business to bring this facility to Limon and Lincoln County.

On Thursday, May 1, 2014, the Limon Board of Trustees approved a Conditional Agreement for Purchase of Real Property for a two acre site on the southeast corner of the Limon Golf Course Addition to the Town of Limon.

Despite the best efforts of the local partnership, including state incentives that would have totaled $468,000.00, the client notified that Colorado Office of Economic Development and International Trade on Thursday, Dec. 11, 2014 that transitions of its major supplier and the company’s internal financing issues have resulted in a decision not to move forward with the project in Lincoln County.

The client was notified by the State of Colorado in September, that the business was granted a business facility grant of up to $250,000 through the through the Rural Economic Development Initiative (REDI) Program. Additionally, the Town of Limon had been awarded $218,000 in Community Development Block Grant Funds to assist in installing infrastructure roadway, water and wastewater infrastructure required to develop the new business facility. None of these funds were expended because each required certain milestones which were not met. The Town of Limon had not yet considered local incentives for this project when it received notification of withdrawal.

Lincoln County Economic Development and the Town of Limon are disappointed that, after significant time and effort, this project did not come to fruition. The time and effort was not wasted in that it created stronger relationships with the Colorado Office of Economic Development and International Trade and Colorado Department of Local Affairs in working with economic development projects. If you have a business looking to expand or have ideas for new business, please contact Lisa Nolder at Lincoln County Economic Development (719-775-9070)

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