A River Runs Through It PUEBLO.

• Author: BRANT, REBECCA
• Position: Brief Article

PUEBLO'S ECONOMIC STRENGTH AND DIVERSITY IS BASED LARGELY ON LIQUID ASSETS.

In past discussions on Pueblo's economic renaissance, some mentioned the abundance of available land. Others cited Puebloans' longstanding work ethic and the city's ready labor pool. But these days, everyone agrees: It's the water.

"Pueblo's in the enviable position of having three times more water than we need to support our population as well as irrigation, hydroelectric power, and recreation," says Jim Spaccamonti, president of the Pueblo Economic Development Corporation (PEDCO). PEDGO recently joined forces with the city's water district in a marketing campaign that sent woven water bags -- once hung on tractors so the draw of the radiator would keep the water cool for slaking thirst throughout the day -- to CEOs of water- and steam-intensive businesses across the U.S. "We got a lot of good response, and we're already talking with some of those companies about coming to Pueblo."

Many already have. Since PEDCO's founding in 1983 -- just after the steel industry went soft and took Pueblo's economy with it -- more than 50 companies have come, with more than 12,000 jobs. Newcomers include Benesight (formerly known as TPA) which took over the former QualMed office space in 1999, and jumped at the opportunity to hire trained insurance claims workers. Benesight proved a lure for EDSS, an e-business that analyzes claims data. The pair will give Pueblo more than 1,000 new jobs by year's end. Other e-businesses such as Convergys, a credit card customer service center, and the marketing support services company Innotrac, account for nearly 2,500 more jobs.

In June, Vestas announced plans to build American headquarters in Pueblo, with 600 jobs. The Danish turbine manufacturer's engineering and marketing practicum-type program with Pueblo Community College took seed when a French supplier directed Vestas to PEDCO's Web site, which provides details on business incentives, site selection, costs of doing business, and quality of life.

Water has played a key role in bringing all of these businesses to arid Southern Colorado. With Front Range cities "getting to the point where they're out of water resources, as well as land," Spaccamonti explains, "Pueblo still has a tremendous abundance of those resources and the infrastructure in place to serve business, so it's not nearly as expensive to develop here."

Kevin Duncan, local economist and professor of economics at the University...