Defense is worth $36 billion in Colorado

Posted at 6:09 PM, Aug 16, 2018
and last updated 2018-08-16 20:18:25-04

ARVADA, Colo. -- Inside Faustson Tool in Arvada, things are buzzing. Their machines are running and so is the business, in part, because of contracts with the Department of Defense. A new report shows the D.O.D. is responsible for $36.6 billion in economic impact across the state of Colorado.

“It allows you to employ more people, to take on the more work that’s there. There’s a lot of work in Colorado,” company president and owner Alicia Svaldi said.

Faustson manufactures metal pieces for the D.O.D. out of aluminum and titanium using metal milling machines.

“There’s not much from a defense perspective that we haven’t been a part of,” Heidi Hostetter of Faustson said.

The Arvada company works on defense contracts as well as in aerospace and medical. They are just one piece of a giant puzzle of jobs, earnings, and tax revenue that makes up the $36 billion in impact, according to the Thursday report.

“With that comes a sense of pride when it’s the Department of Defense. I can look at this part and see it’s a part of a bigger project to keep us all safe,” Svaldi added.