Good for Schlosser, and good for Loveland

In case you missed it, at the last council meeting, the Loveland Economic Development Department presented a financial assistance package for Schlosser Signs. The meeting was a study session, so the council took no action, but we learned about Schlosser Signs’ recent growth and expansion plans.

The Loveland sign company has expanded rapidly and plans to consolidate operations into a new, bigger building. The two buildings they’ve outgrown will become available for other companies in the light industrial sector. With the help of the economic development office, they are asking the city to waive their building permit fee and their city use tax for the project. The terms of the agreement require that Schlosser make a $3.9 million investment into their new building and add 23 new jobs (averaging $65,000/year plus benefits) over the next five years. The amount of money requested from the city is about $65,000, to be backfilled by the city’s incentive fund. In Councilor Fogle’s words, this amounts to moving money from one pocket to another.

The council seemed pleased with Schlosser Signs and the economic development office for their work putting together this proposal, mainly because of the modest size of the “ask” and because it is a case study in small business growth. Schlosser is a small business by any measure. Still, they are an ideal primary employer, doing a large percentage of their sign work outside Larimer County, most notably installing signs of all sizes at Denver International Airport. This brings revenue into Loveland from outside our area while providing good local jobs.

The Schlosser scenario illustrates how we want our city to support local businesses — especially native small businesses that have hit their stride and need a little boost to take their enterprise to the next level.

Diana Precht

Loveland