Governor Polis and the Business Funding and Incentives (BF&I) division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that construction company TC Modular, LLC has become the first Phillips County business to join the Rural Jump-Start program, creating new jobs and supporting Colorado’s modular housing industry.
“I am excited to welcome TC Modular to Phillips County, which will create 35 new good-paying jobs. Colorado needs more housing now and manufacturers like TC Modular will help us increase our state’s housing supply, ensuring more Coloradans can live in communities we love,” said Governor Polis.
TC Modular plans to design, fabricate and deliver residential workforce and community housing, and custom modular configurations for commercial and hospitality partners. The company will begin with custom modular configurations for brand and property partners, designed for rapid site setup across multiple locations.
“TC Modular is excited to begin its modular construction journey through the support of Colorado’s Rural Jump-Start Program. We appreciate the State of Colorado’s partnership as we work to provide quality housing and commercial modular solutions,” said Jack Vea, Vice President of Finance of TC Modular.
The Rural Jump-Start program encourages economic development and job creation in economically distressed, rural counties of Colorado. This funding supports regional economic and workforce development activities that seek to expand local business, create new good-paying jobs, and strengthen and diversify local economies. The company will receive $15,000 in grant funding to support the launch of its operations, as well as four years of tax benefits through the Rural Jump-Start program. Eligible employees will also receive a state personal income tax credit while the company is in the program. Over the next four years, the company plans to hire up to 35 new employees.
“Colorado continues to develop innovative ways to expand our state’s housing supply, and the Rural Jump-Start program is a vital part of that effort. By creating new jobs and new housing units across the state, TC Modular will help grow an important Colorado industry while diversifying and strengthening the local economy,” said Eve Lieberman, OEDIT Executive Director.
Sponsoring entities like Phillips County Economic Development help identify business candidates in their communities and work with each business to help ensure its success in the program and in the community.
“We are thrilled to support TC Modular’s growth through the Rural Jump-Start process. As Phillips County’s first Rural Jump-Start participant, TC Modular’s innovation will help create new jobs in our community and support the growing modular construction industry,” stated Abby Roll, Board Member of Phillips County Economic Development.
To learn more about the Rural Jump-Start program, please contact Quina Weber-Shirk at quina.webershirk@state.co.us.