PEDCO is a familiar acronym to many in Southern Colorado, and the 40-year-old organization continues to evolve by bringing primary job companies to Pueblo and addressing the gap in skilled workers in various areas of manufacturing.
The Pueblo Economic Development Corp. aims to recruit and create incentive programs to attract primary job creation in the private sector employment through manufacturing; business; commercial and service industries; product production, assembly and distribution; or providing services primarily for sale or use outside Pueblo.
“Our mission is to bring money into Pueblo from outside Pueblo,” explains Jeffrey Shaw, PEDCO’s CEO since 2015. “Since our inception in 1984, the organization has brought over $100 million in sales tax revenue into the city and $9.4 billion in salaries from new jobs.”
Companies that PEDCO has brought to Pueblo have remained there for an average of more than 17 years, according to Shaw. The Target Distribution Center is the longest-running company, moving to Pueblo in 1985, and Trane Technologies relocated in 1987.
Technically, PEDCO started in 1981 when businesspeople and other individuals dug into their pockets to find money to support this economic effort. In 1984, Pueblo’s citizens voted to tax themselves to continue economic development, and they’ve continued to do so every five years, keeping a half-cent sales tax in place for PEDCO. The sales tax brings in an average of $7 million to $9 million per year to continue attracting primary job firms.
PEDCO’s efforts have expanded to address the workforce skills gap in many industries. The organization partners with the 81-year-old Pueblo Community College’s (PCC) Corporate College Mobile Learning Labs and has launched a new “Made in Pueblo” program targeting middle school and high school students.
PCC’s Mobile Learning Labs literally drive onto a manufacturer’s site to provide specific hands-on training from professional-grade trainers. Sponsored through the U.S. Department of Labor, these customized training tools provide a wide range of skill development from fundamentals to advanced troubleshooting.
Colorado State University Pueblo (CSUP) also works with PEDCO, providing guidance on attracting industries and offering incentives.
PEDCO’s newest program incorporates 14 large, Pueblo-based companies and provides a “behind the scenes” tour of each. Made in Pueblo (madeinpuebloco.com) exposes students and parents to the various aspects of manufacturing careers.
“Say the word ‘manufacturing’ and there is a perception that this is hard, labor-intensive, dirty jobs,” notes Shaw. “Our Made in Pueblo program helps educate students and parents about the vast array of jobs within the manufacturing industries. And what better folks to show them than the companies themselves?”
PEDCO has traditionally focused on large construction, manufacturing, aerospace, food and beverage processing, chemical processing and rail-related companies. New areas of interest for PEDCO include outdoor recreation and professional scientific industries.
[CALLOUT BOX] HOW PEDCO SELLS PUEBLO
- Excellent access to markets
- Workforce development programs ranked in the top 10 nationally*
- Affordable cost of living for employees
- Pueblo ranks the best for affordable living along Colorado’s Front Range**
- Population -169,383
- Unemployment rate – 4.5%
- Median age – 39.8 years
- Median household income – $54,340
- Median home price – $326,500
- Commute time – 18.4 minutes
- Nearest airport – 10 miles
* Colorado Office of Economic Development and International Trade (OEDIT)
** The 2024 2nd Q Annual Average Data report by The Council for Community and Economic Research.
