DENVER (CBS4/AP) – Redwood Trust Inc. plans to add more than 550 jobs in Colorado over the next five years as it adds a financial services operations center in Douglas County.

The company, based in Mill Valley, Calif., invests in, finances and manages real estate assets.

State officials said Friday that Redwood is receiving tax credits from Colorado’s Job Growth Incentive Tax Credit for the creation of 552 jobs over five years.

“The support that the state of Colorado has provided Redwood for our expansion confirms that we have made the right decision and we look forward to becoming a good employer and a contributive member of the business community in the Centennial State,” Redwood Trust President Brett Nicholas said.

Gov. John Hickenlooper presented Nicholas with a Peyton Manning jersey at the announcement.

The company plans to hire managers, residential loan origination employees and servicing specialists, as well as quality control, human resources, information technology and other administrative employees. It expects an average annual wage of $66,847 per employee, which is above the average annual wage in Douglas County.

(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)


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