Record-setting economic development in Broomfield includes Viega, IKEA, JP Morgan Chase

Posted at 8:10 AM, Nov 02, 2016
and last updated 2016-11-02 10:10:27-04
Business is booming in Broomfield.
In the past 90 days, the county has secured about $500 million worth of economic development projects centered around three big players.
Plumbing, heating, and cooling company Viega announced earlier this year that it is relocating its world headquarters to Broomfield.
Last month, furniture giant IKEA closed on land just off of I-25, near Highway 7, to build a future store. 
And then just last week, JP Morgan Chase announced it is coming as well, building a $220 million operations center off of Sheridan, also near Highway 7.
The three projects total more than 300 jobs and millions in tax revenue. 
"This is probably the biggest three months we've ever seen as far as economic development. To put it in perspective, the Chase project is actually bigger than our Flatirons Mall project of 2001. So it's bigger than our mall," Broomfield Mayor Randy Ahrens said.
It also means a lot of improvement projects are coming. 
With a half a billion dollars in private money coming in, that's more tax revenue for public projects. 
"Upgrading some of our swimming pools, adding a new library, enhancing our trail system, fixing some of the streets, so some of those improvements will impact peoples lives," Ahrens said. "Trying to relieve congestion, more amenities, more parks."
Groundbreakings and construction on the three big new companies are expected to start within the next year and a half. The public improvements would follow.
The negotiations with Viega, IKEA, and JP Morgan Chase were all years in the making according to the mayor. He says they all just happened to fall into place around the same time, within the last 90 days. 
The mayor credits Broomfield's combined city and county with less government and red tape for major companies who are looking to relocate.


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