Going to Colorado – Arrow Electronics Shifts to Colorado from New York

October 12 00:00 2011

New York, October 12 (RainbowNewsLine.com) – The Colorado Department of Economic Development said that another company would be shifting to Colorado with the announcement by Arrow Electronics that it will shift to Colorado from New York. The department said that thousands of jobs would also be coming to the Centennial area but it did not provide any more details.

One of the main reasons why companies shift from one state to another is its incentives. According to the department, although Colorado’s incentives are not as attractive as other states, its central location is a plus point for potential companies.

Alice Kotrlik, deputy director of the Colorado Department of Economic Development said “It’s been a really busy year for Colorado,” and added that since 2008, there has been a steady upsurge in the number of companies trying to relocate to the Rocky Mountain Region. It is her responsibility to keep track of the deals being made between the State of Colorado and the potential companies who wish to shift to Colorado.

Incentives are given to those companies who promise to bring certain amounts of jobs with them. Kotrlik said that the incentive “can vary depending on what sort of company it is. At the end of every year the company will provide to our office specific information on what they have actually done.” She added that “If they haven’t lived up to their promise, they don’t get the full incentive.”