Got jobs? Aurora will have hundreds more in the coming years from a lighting company that scored incentives from the city on April 16.
Aurora officials approved a deal at their April 16 meeting that will create about 530 new jobs over 10 years — adding to what has become a string of economic development coups for the city.
Aurora City Council members approved an agreement that would give Cooper Lighting about $208,700 worth of waivers and tax rebates over 10 years. Councilwoman Renie Peterson was the only council person who voted against the deal.
Cooper Lighting, a division of Ireland-based Cooper Industries, manufactures incandescent, florescent and LED lights for businesses and residences.
The company, which already employs about 115 people in Aurora, is slated to invest about $1.2 million to improve a 190,000-square-foot facility at 18001 E. Colfax Ave. and it will also invest $400,000 in capital equipment. The total investment over a 10 year period will be about $8.9 million.The Cooper Lighting facility will eventually house about 650 employees over 10 years. Average salaries will start at $39,230 but will grow to more than $45,200 over the term of the agreement.
“It’s absolutely wonderful,” said Councilwoman Marsha Berzins of the jobs that will be created through the deal. Agreements like these will help put people back to work, not only in Aurora, but all over the metro area, Berzins said.
“We want to get them to work no matter where they live, we want them to get hired because that’s how the economy is going to get back on its feet,” she said.
But some council members, like Peterson, question whether economic incentives used to lure businesses to the city should be doled out regularly.
“I think incentives are something that will grow to be expected, so I don’t want to encourage it,” she said. Peterson has voted against past incentive agreements. Others like Councilman Bob LeGare question the efficacy of the incentives. He asked city staff at an April 5 Management and Finance committee meeting to compile a list of past incentive agreements to see how they’ve performed over the years.
The city has been luring businesses and spurring job growth through economic incentive agreements for several months now.
Reach reporter Sara Castellanos at 720-449-9036 or sara@aurorasentinel.com.
