Tuesday, October 29, 2019

Colorado To Get Another Modular Home Factory

IndieDwell, a Boise, Idaho-based startup that manufactures modular homes from shipping containers, announced plans Monday to open a plant in Pueblo, CO in the first quarter of 2020 with up to 200 employees.

The 100,000-square-foot plant plant at full capacity is expected annually turn out between 300 and 1,000 one- to four-bedroom homes costing $56,000-$122,000 along Colorado’s Front Range. The company expects to reach full capacity within three years and generate an annual payroll estimated at $16 million. Full-time jobs will pay an average salary of $38,248 and include medical, dental and vision benefits plus 20 days a year of paid time off.

The Pueblo Economic Development Corp. began working with indieDwell early this year and has agreed to provide the company $1.64 million from the city of Pueblo’s half-cent sales tax for economic development, said Jeff Shaw, the economic development group’s president and CEO. The tax funds must still be approved by the Pueblo City Council. The Colorado Economic Development Commission also awarded the company an incentive of up to $684,000 from its strategic fund.

The homes range in size from 360 to 960 square feet and include up to four bedrooms, two bathrooms and with all but the smallest have a kitchen, dining and living rooms. The company will spend $13 million on the plant and PEDCO estimates the project will have an annual economic impact of $35 million.

IndieDwell was started last year in the Boise suburb of Caldwell, Idaho, by Gombert and Scott Flynn as a public benefit corporation to manufacture “healthy, durable, energy efficient and sustainable modular houses with a mission to help solve the affordable housing crisis while improving the health of the environment and empowering communities.

The company now employs 70 at its headquarters and manufacturing plant in Caldwell for homes it is building in Boise, Caldwell and McCall, Idaho. A project in Los Angeles also is planned.

The company closed last month on $5.5 million in financing for a nationwide expansion from The Chan Zuckerberg Initiative, funded by Facebook founder Mark Zuckerberg and wife Priscilla Chan; Northern Trust, the Colorado Health Foundation and Gary Community Investments.

IndieDwell plans to build 100,000 of its homes nationwide by 2025, according to its website.

Modcoach Note: That is 4 times the total number of modular homes built by all the modular factories combined in 2018.

CLICK HERE to read the complete The Gazette article

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