Colorado: Red Feather Industries to Bring up to 80 jobs to Huerfano County with Support from the Rural Jump-Start Program

WALSENBURG ~ WALSENBURG - In a recent announcement, Governor Jared Polis and the Business Funding and Incentives (BF&I) division of the Colorado Office of Economic Development and International Trade (OEDIT) revealed that Red Feather Industries, LCA has joined the state's Rural Jump-Start program. The employee-owned off-site housing manufacturer plans to open a new factory in Walsenburg, Colorado.

Governor Polis expressed his excitement about the company's decision to expand into southern Colorado, stating that it will create 80 new jobs for rural residents. He also highlighted the importance of businesses like Red Feather in addressing the growing demand for housing in communities across the state.

Red Feather Industries specializes in manufacturing wood-based modular housing off site and plans to build single and multi-family homes for individuals and families earning 80-120% Area Median Incomes (AMI). As a worker cooperative, the company is collectively owned by its employees and profits are reinvested back into the business. Over the next four years, Red Feather plans to hire 80 new employees.

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In a statement, Red Feather Industries expressed their excitement about being accepted into Colorado's Rural Jump-Start Program. They see this opportunity as a way to not only provide innovative and affordable housing solutions but also invest in the economic future of rural Colorado. The company looks forward to creating meaningful jobs for worker-owners, developing strategic partnerships, and contributing to stronger and more resilient rural communities.

The Rural Jump-Start program aims to encourage economic development and job creation in economically distressed, rural counties of Colorado. It provides incentives for new businesses that start or locate in participating Rural Jump-Start Zones, create good-paying jobs, and export goods and services outside of these zones. As part of this program, Red Feather Industries will receive $15,000 in grant funding to support their operations launch as well as four years of tax benefits. Eligible employees will also receive a state personal income tax credit while the company is in the program.

Eve Lieberman, Executive Director of OEDIT, praised Red Feather Industries for their innovative off-site construction methods and their commitment to creating more housing in communities across the state. She also highlighted the company's model as an employee-owned cooperative, which promotes shared resilience and economic growth in Colorado.

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Trinidad State College, one of the sponsoring entities for the Rural Jump-Start program, played a crucial role in identifying Red Feather Industries as a potential candidate. Donna Haddow, Continuing Education Coordinator at Trinidad State College, emphasized the importance of this program in supporting new businesses and creating jobs in rural communities. She also noted that Red Feather Industries will not only provide well-paying jobs but also address the need for quality and affordable housing.

For those interested in learning more about the Rural Jump-Start program, they can contact Quina Weber-Shirk at quina.webershirk@state.co.us.

The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all individuals to thrive in Colorado's economy. With support from Governor Polis and economic development partners across the state, OEDIT provides funding and financial programs, training, consulting, and informational resources to businesses of all sizes and industries. Their goal is to promote economic growth and long-term job creation by recruiting, retaining, and expanding businesses in Colorado while also making it accessible to everyone. To learn more about OEDIT's initiatives, visit their website.

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