There is much celebrating taking place at the Water Valley Land Company office in Windsor.
After years of hard work, patience and positive thoughts, the Colorado Economic Development Commission (EDC) today unanimously approved the Go NoCO application for the Regional Tourism Act. The reason Water Valley is excited about this news is because its project – the 300-room PeliGrande Resort located in Water Valley South near its event island and the Poudre Valley Medical Fitness Center – is one of the many features of Go NoCO’s application.
“This is a glorious day for Northern Colorado,” said Water Valley CEO, Martin Lind. “The region finally has been recognized.”
The EDC’s approval grants Go NoCO to collect $86.1 million over 30 years from the expected out-of-state tourism the area is projected to generate.
Besides the PeliGrande Resort, the other items approved with today’s announcement are the Stanley Auditorium and Film Center in Estes Park, the Indoor Waterpark Resort of the Rockies in Loveland, and the U.S. Whitewater Adventure Park, also in Loveland.
Lind and his staff were beaming Thursday morning upon hearing the news.
“The tourism dollar circulates so strongly in a region that it elevates all,” said Lind. “That tourist revenue will flow into our local economies and result in increased hourly wages for all employees, better job opportunities for our residents and a plethora of new business opportunities for those who wish to market to and capitalize on the tourist.”
The PeliGrande is projected to bring in over 46,000 new out-of-state visits per year and will cost around $110 to construct. The state will fund over $3 million toward the project while local governments will contribute $3.9 million and $19.4 million will come from public improvement fees.
The start of construction is forecast to begin in 2016.
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