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PEDCO reports active prospects and a potential $750M+ project; councilors press to reinstate economic‑development contract
Summary
PEDCO—s quarterly briefing outlined prospect activity, target industries and a major prospective southern Pueblo project (300+ jobs, more than $750 million CapEx). Councilor Flores urged the council to reinstate PEDCO's contract rather than rush an RFQ, citing the organization's history and community support.
Jeff Sharp, president and CEO of PEDCO, gave the council a quarterly update on Nov. 10, outlining the organization—s mission, recent prospect activity and a major project under pursuit in southern Pueblo.
Sharp said PEDCO focuses on attracting, retaining and expanding primary jobs and noted the organization—s historical contributions: roughly 99 companies assisted over its history, creating about 16,000 primary jobs; about 36 of those companies remain and account for approximately 7,000 primary jobs in Pueblo. Sharp described PEDCO—s funding and governance structure: it is a 501(c)(6) membership organization that recommends incentives, while the city approves any incentive disbursements and half‑cent sales tax funds remain subject to voter approval.
On prospect activity, Sharp said PEDCO currently tracks 20+ inquiries and roughly 10 good prospects, with about nine projects at higher interest that collectively could represent more than 1,000 potential jobs. He highlighted one transformative southern‑Pueblo prospect described as more than 300 employees with CapEx exceeding $750 million, which PEDCO said is being actively pursued by multiple partners.
Councilor Nelson Flores delivered an extended statement in support of PEDCO and urged the council to reinstate the organization—s contract with the city rather than move quickly on an RFQ process. Flores said PEDCO—s membership of 200–250 businesses and their local investments argue for keeping PEDCO as the city—s economic arm, but he said a renegotiated contract could be appropriate if necessary. Flores asked legal staff to work on reinstatement and a revised contract on a measured timeline rather than a rushed December deadline.
Other councilors asked about PEDCO—s online project dashboard, the sales tax renewal margin and the organization—s openness to tweaks in how funds are used; PEDCO leaders said they will share the dashboard link and continue conversations about program priorities.
No formal contract decision was made during the meeting; councilors asked for follow‑up and additional materials from PEDCO and city staff.
