We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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Groundbreaking on the project – approved by the Timnath City Council in December – was to have taken place in early March.
But Eldon James CEO Marcia Coulson said it became “apparent that the project build-out timeline in Timnath would not be conducive to bringing production capacity online soon enough to fill (its) pipeline.”
Eldon James, she said, is evaluating several existing sites in Colorado that can be retrofitted to handle current and future orders from larger customers.
“The need to ramp-up production has set new priorities for the company, and we’re moving in a direction that will suit our space requirements, as well as our time constraints,” Coulson said in a news release
Coulson added the Loveland-based plastics manufacturer is “committed to Colorado,” though she did not specify whether Eldon James would stay put in Northern Colorado.
She said Eldon James would have another announcement to make “very soon.”
Last week, Timnath Mayor Jill Grossman-Belisle said she received word about the decision from landowner Dino Ditullio.
The $12-million, 75,000-square-foot facility was to become Eldon James’ HQ. Ten new jobs were expected when the building was complete in November, with more jobs eventually migrating there as the company consolidated locations elsewhere.