DENVER (CBS4)– One of the world’s largest apparel companies is moving to Colorado. VF Corporation, which owns brands including The North Face, JanSport and Smartwool, will move its corporate headquarters to Denver in 2019.
“We are thrilled to welcome a new partner that embodies the values that define Colorado,” said Gov. John Hickenlooper in a press release. “VF’s move underscores the critical driver that the outdoor recreation industry plays in our economy where business meets lifestyle.”
VF Corporation announced Monday morning it would be splitting up its company, leaving some brands in North Carolina and taking many of the brands associated with the outdoors to Colorado.
“We place so much importance on our outdoor retail, our outdoor recreational company, we really felt like this was the perfect fit for them,” said Stephanie Copeland, Executive Director of the Colorado Office of Economic Development.
A press release from the company read, “Consistent with its enhanced focus on the outdoor and active consumer, VF will move its global headquarters to the metro Denver area, which will also serve as the home for The North Face®, JanSport®, Smartwool®, Altra® and Eagle Creek® brands and both VF’s Global Innovation Center for technical fabrics and Digital Lab. The new Colorado location will be staffed by brand leaders and associates, innovation staff, certain members of VF’s global leadership team and other corporate functions.
“Locating these brands, along with select VF leaders, at the base of the Rocky Mountains will enable us to accelerate innovation, unlock collaboration across brands and functions, attract and retain talent and connect with consumers,” said Steve Rendle, Chairman, President and Chief Executive Officer of VF Corporation.
Last week, Colorado voted to give a then-unnamed corporation $27 million in tax incentives to relocate its headquarters. The second largest incentive package the state has ever handed out.
The terms are contingent on high-paying jobs. About 800 jobs with an average salary of $185,721 are expected to be created in Colorado.
On Monday Rendle said in a statement, “We are grateful to Colorado for the job growth tax credits that represent a long-term commitment to our company and we want to make a long-term commitment to the people of Colorado. For every dollar of job growth tax credit that we receive and use, we will match that dollar in a donation to the VF Foundation and designate those funds to support the charitable interests of the citizens of Colorado. VF’s Purpose Statement declares that we will power movements of sustainable and active lifestyles for the betterment of people and our planet. We will demonstrate that commitment to the Colorado community.”
The North Face has already helped supply a rock climbing wall this summer in the Montbello neighborhood.