Although it is only about a two-mile move, the company had considered moving its world headquarters to Chicago and even London. The Denver City Council economic development committee recently approved proposals that would give the company $325,000 in incentives over the next five years. Under the deal, ProLogis will be eligible for $350,000 in direct business incentives and another $75,000 for training assistance and tuition reimbursements. In order to get the money, it needs to create about 100 jobs. ProLogis plans to do that by moving its corporate accounting and information technology workers from El Paso, TX to Denver. The company also plans to create a total of 300 jobs with an average annual salary of $60,000.
The state also agreed to pony up another $400,000 in matching incentives. ProLogis plans to build its new 80,000-sf headqaurters near East 40th Avenue and Airport Way in the Gateway business park, which is in an enterprise zone.
The incentives appear to be a small price to pay to keep ProLogis here. The company is expected to have more than a $20-million direct and indirect impact on the area's economy.
Last year, ProLogis completed construction on the first facility at ProLogis Park 70, a 180-acre master-planned park in Aurora that is expected to eventually employ almost 3,000. The park represents an investment of $100 million.
K. Dane Brooksher, chairman and chief executive officer of ProLogis, says the company explored "several other cities across the country, including Chicago."
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