Pueblo’s Project Falcon Put on Hold After Company Pauses Proposal

Overview

• The company behind Project Falcon has paused the proposal, leaving the project’s future uncertain and likely to remove the memorandum of understanding from the council agenda.
• Mayor Heather Graham says the city has not independently vetted the company’s economic claims and she will not approve the deal without outside verification.
• Councilmembers Ted Hernandez and Miles Lucero defended the project and noted that confidentiality agreements are common in early negotiations while saying the deal could bring significant benefits.
• Officials and local reporting cite roughly $300 million in projected county revenue and about 300 jobs as the proposal’s promised benefits, figures that have not been publicly verified.
• Project Falcon’s pause followed public dispute over secrecy and could chill investor confidence, affect prospective jobs and wages for local families, and leave the city weighing how much transparency to demand in future deals.