A startup company that calls itself a next generation cable provider is moving its headquarters to Denver from Boston, where the cable and social media start-up was founded a year ago.
Layer3 TV, Inc. expects to create more than 300 high-wage jobs in the next few years.
Denver is providing almost $3 million in tax incentives to bring the company to Colorado.
Ken Lund, the director of Colorado’s Office of Economic Development, says the deal is important beyond the number of jobs it will create.
"Corporate headquarters have a special significance because they create a ripple effect in the community," Lund says. "Both from a philanthropy standpoint, from an investment standpoint, it just really has a deeper impact than almost anything else."
Layer 3 has already posted jobs in Denver on its website. The company’s CEO says they hope to hire around 50 people by the end of the year.
Lund says an added benefit is that this development should also help the state attract other companies.
"We certainly have a very active pipeline of companies that are interested in Colorado," Lund says. "And we are being very proactive to go out a seek companies that are a really good fit. And so this becomes part of the story and part of why other companies will look to Colorado as well."
You are one of the CPR readers who wants to know what is really going on these days. We can help you keep up - The Lookout is a free, daily email newsletter with news and happenings from all over Colorado. Sign up here and we will see you in the morning!