Ralph Armijo, who identified himself as the founder and CEO of the proposing company, presented a pitch on July 31 to locate a glycerin manufacturing facility in Pueblo and asked public entities to provide $15 million in startup support. “We believe we will create at least 50 plus skilled labor jobs or manufacturing positions within the city within the first year,” Armijo said.

Armijo said the financing request comprises a $3 million grant for job creation and a $12 million structured loan amortized over 30 years at 6.5 percent with interest deferred for the first year. He told commissioners the city or county that participates would receive 20 percent of company profits until the loan is repaid and would hold first position on company assets; he also said the company would indemnify the public partner.

Presenters estimated first‑year production at about 11 million pounds of glycerin (roughly $13 million in revenue), rising to about 50 million pounds by year 10 (roughly $75 million in revenue) with projected EBITDA margins of 20–25 percent. The team projected phase‑one employment of “50 plus” and a minimum $30 million local economic multiplier; they said equipment lead time is about six months and that they had identified a 22,000‑square‑foot facility on 10 acres near a major distribution center.

Gary McCadum, a member of the leadership team who said he has long experience advising start‑ups and mergers, urged commissioners to meet privately with Armijo for detailed due diligence. “Sit down with Ralph. It can't be covered in a 20 minute meeting,” McCadum said.

Commissioners asked clarifying questions about the proposed capital stack and timeline, and they said the proposal would need to be reviewed by PEDCO (Pueblo Economic Development Corporation) and the city. Armijo said PEDCO’s Jeff Shaw was reviewing the proposal and expected to discuss it with counsel the following week. Commissioners signaled interest but noted the model — a shared profit repayment and public loan — is not a standard structure for local economic development.

The presenters said the total startup cost is $15 million and that the company preferred public participation now to retain local headquarters; Armijo said private equity investors might relocate the business to larger port markets.

No formal county commitment or motion was made during the work session. Commissioners asked the proposers to keep the county and potential partners informed and agreed to continue conversations with PEDCO and the city. Armijo said the owners are prepared to move quickly if public partners participate: equipment has a six‑month lead time, and the team expects production 30–90 days after equipment arrival. Armijo also said a letter of intent for a property was under consideration and that some stainless steel tanks would be acquired for startup.

The presentation included financial terms and collateralization statements from Armijo but did not include signed public agreements. Commissioners indicated they would review the proposal and explore creative, potentially pooled solutions among public partners to move the project forward if warranted.