State Offers Incentives For Charles Schwab Jobs

DENVER (AP) -- The state plans to spend up to $1 million or more to help Charles Schwab bring 500 new jobs to Colorado as part of a public-private economic development venture backed by Gov. Bill Ritter.

Ritter says the state has about $3.5 million a year set aside from gaming revenues that can reward companies based on job creation and retention.

Schwab Investor Services senior vice president Sherri Kroonenberg says the company cut an unknown number of jobs in Colorado over the past few months as part of a nationwide restructuring. The new positions will include technology jobs and managers, with average salaries of about $75,000.

Schwab says it will phase in the jobs over three years, and will invest $2.7 million to furnish a new leased facility in Douglas County.

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