State aimed well on Arrow Electronics
The announcement Tuesday that Arrow Electronics will shift its corporate headquarters from Long Island, N.Y., to Colorado was great news for the state — not just the Front Range.
For one thing, it will raise Colorado’s reputation worldwide when it comes to computer components and computer-related electronics. Arrow is listed by Fortune magazine as one of the top 140 companies in the country in terms of revenue, and it is a global leader in electronics and computer components.
Furthermore, while the company is expected to add 1,200 jobs over the next five years to the 1,000 it already has at its Colorado facilities in Englewood, Arrow does business with hundreds of suppliers and related businesses.
In announcing the Arrow move, Gov. John Hickenlooper said the state will now actively recruit many of those businesses, seeking to have them move to or build facilities in Colorado.
Those facilities don’t all have to be next door to Arrow’s headquarters. They can be in many parts of the state. And that means there are opportunities for communities around Colorado — including Grand Junction — to try to attract these companies.
Arrow plans to keep its facilities open in New York, but it’s corporate headquarters will now be in Colorado, and most of its planned expansion in this country is expected to occur here. The state last week approved tax credits of up to $11.4 million over five years, if the 1,200 new jobs materialize in this state.
The announcement was a coup for Gov. Hickenlooper, who worked with Colorado corporate leaders and personally lobbied Arrow CEO Michael Long to persuade him to locate the headquarters here. This from a governor who, last year on the campaign trail, pledged to make job creation in this state his top priority.
We hope the action pays dividends throughout the state.