There are 250 new yet-to-be announced jobs that will soon be created by companies in Longmont, according to a recently released report by the Longmont Economic Development Partnership.
The second quarter 2018 report highlights economic development achievements in the city. The partnership, a nonprofit group funded by public and private money, aims to promote a strong business environment in Longmont.
The 250 jobs that are pending announcement will be generated by primary industry companies who have already committed to starting or expanding operations in Longmont, but are “not ready to announce publicly,” said Jessica Erickson, executive director of the Economic Development Partnership.
“In most cases, we work with these projects on a confidential basis,” she said.
While she could not comment on the industries in which the new jobs will be created, Erickson said they represent “multiple projects, not just one employer.”
Primary employers are companies that draw at least 51 percent of their revenue from outside of Boulder County. Such companies are considered important economic development drivers because they infuse the local economy with outside funds while contributing to local tax and pay rolls.
The 250 jobs pending announcement will come in addition to 35 new jobs already announced this quarter, the partnership report shows.
By the end of 2018, the Economic Development Partnership’s target industries — advanced technology, bioscience, creative and culinary arts, and professional services and IT — are projected to add 333 new jobs, according to the quarterly report.
Job growth for the year is expected to be 2.3 percent in Longmont, according to the report. That figure is above the national projection of 1.7 percent, but lags slightly behind Boulder County’s 2.4 percent estimate.
In the past, many companies have opted to start operations in Longmont only after first considering — and ultimately determining to be too expensive — other cities in the region, such as Boulder and Denver, Erickson said. But that’s starting to change, and Longmont is among the cities on the short list for companies looking to set up shop along the Front Range.
Because of this, “one of the biggest shifts (at the partnership in the past year) has been that a significant amount of economic development activity has come directly to us rather than us having to reach out for it,” she said.
Longmont has received “national recognition for things like our great St. Vrain Valley School District, the nation’s fastest internet, and big announcements like (the new) Smucker’s (manufacturing plant),” Erickson added.
The Economic Development Partnership has about 50 projects in the development pipeline, according to the quarterly report. Those represent companies that are in active talks with the partnership about starting or expanding operations in Longmont.
“We expect some of those (projects in the pipeline) to make decisions (about adding jobs in the city) by the end of the year,” Erickson said. “Hopefully we will win a few of those and have some more announcements about new jobs in the next couple of quarters.”
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