Crop Production Services offered $300,000 to lease in Centerra

LOVELAND – City Council approved an incentive deal that will bring a Greeley employer to Loveland.

In a 6-2 vote Tuesday, the Loveland City Council decided to offer Crop Production Services $300,000 for executing a lease for office space at Centerra. CPS, which sells crop input products such as seed and liquid and dry nutrients, employs 250 in Greeley and was previously known as United Agri Products. Canada-based Agrium Inc. purchased the company in 2008.

The incentive agreement requires CPS to execute a lease, of at least 12 years, for 82,000-square-feet of office space at Centerra on or before Dec. 31. The council documents indicate that a new $18 million facility will be built and leased to the company.

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The $300,000 cash incentive will be given to CPS within 30 days of the city receiving the executed lease agreement. The incentive agreement does not include a stipulation requiring a certain number of new jobs be created.

The money comes out of the City Council Economic Development Incentive Fund. The fund, allocated $350,000 annually, is meant for primary employers — those that export more than 50 percent of their goods and services outside of Larimer County — that pay average wages 150 percent higher than the county average. CPS’ average annual wage is 160 percent of the county’s average annual wage.

Colorado State University professor and regional economist Martin Shields indicated the company would bring Loveland a net fiscal impact of up to $600,000 during the next five years, assuming the company adds 100 new positions. The number of positions was determined using information from the site selector, the company, CSU and the Northern Colorado Economic Development Corp.

The council also approved an incentive deal for Agrium Advanced Technologies, a sister company of CPS, that will give the firm $2,000 for every new job created up to $142,000 within five years. Agrium Advanced Technologies will relocate 21 jobs into an existing 16,000- to 23,000-square-foot facility in Centerra. The company plans to add around 50 jobs at the site in the next five years. The jobs must be maintained for at least 12 months to be eligible for the payment.

Agrium Advanced’s average wage is 200 percent of the county average. The firm develops environmentally friendly nutrient products for the home, garden, turf and the golf course market.