After operating in Pueblo for 17 years, the Professional Bull Riders Inc. is leaving town and moving its headquarters to Texas.
“PBR’s official corporate headquarters are now located in Fort Worth, Texas. Fort Worth is the current location of the PBR World Finals, the Texas Rattlers competition in the PBR Camping World Team Series, our new television partner Merit Street Media, and the iconic Cowtown Coliseum, which features weekly events programmed by the organization,”
Andrew Giangola, PBR vice president of strategic communications, confirmed in an email to the Chieftain late Monday.
How PBR came to Pueblo
Pueblo voters paved the way for PBR to move its headquarters to Pueblo from Colorado Springs in 2007 thanks to the city’s half-cent sales tax fund for economic development. Pueblo launched the fund in the mid-1980s and voters have approved its extension every five years since.
In 2005, a Chieftain report indicated Pueblo had donated $7.7 million toward the project — $5.2 million toward the PBR’s administrative facilities and another $2 million for a parking structure.
At that time, PBR “promised to employ 76 full-time workers by Oct. 1, 2007, and 180 full-time workers by Oct. 1, 2010,” in exchange for the economic development incentive package.
Professional Bull Riders leave Pueblo for Texas after 17 years, stirring up job loss and financial concerns after the city invested so much into the organization. https://t.co/hZFguXqgwM
— KOAA News5 (@KOAA) August 19, 2024
April 11, 2006 saw the groundbreaking of the 33,000-square-foot headquarters located at 101 W. Riverwalk, which was opened on July 16, 2007.
The number of jobs that the company offered altered after Professional Bull Riders Inc. was sold to Endeavor in 2015, according to Jeff Shaw, president of the Pueblo Economic Development Corporation, “and the business model changed to some degree.”
“That number of employees (PBR was contractually obligated to supply) was lowered to 80 jobs and PBR relinquished ownership of the lower portion of the Riverwalk property,” said Shaw.
That lower portion of the building consists of Unit 1A and Unit 1B and they are known as Riverwalk Place Building Condominiums, according to the Pueblo County Assessor’s website.
Despite that downsizing in the number of jobs, Shaw said, “it’s been a great project for Pueblo and when we brought them to Pueblo that spearheaded the first big development on the Riverwalk. They’ve been here 17 years and obviously, you never want to see a project depart.”
“We are grateful for the investment they made in the community, the time they were here, the job commitment and their help marketing Pueblo, so it has been a success.” stated Shaw. “They fully complied with what they were required to do with the city and their contract with the city ended in 2022.”
Mayor expresses disappointment
Pueblo Mayor Heather Graham declined to participate in an interview about PBR’s departure, but provided a written statement saying she was disappointed to see the half-cent sales tax dollars go to a business that, once its commitment was met, decided to leave the community.
“We’re hopeful about new opportunities on the Riverwalk to take their place. We hope businesses who take advantage of incentives with Pueblo Economic Development Corp. make Pueblo their permanent home and not just during initial terms of a contract. Pueblo has tremendous things to offer with our tax benefits, amenities, the community, our education and more,” the statement continues.
When PBR relocated its World Finals Championship from Las Vegas, Nevada, to Fort Worth, Texas, in 2021, Shaw stated there was some concern that the event would take place in Pueblo.
“They were here longer than they were contractually obligated and it sounds like they needed a location closer to the infrastructure where they hold their championship event,” Shaw stated.
“Things change in business over time, and I don’t think there will be much of an impact on employment. He remarked, “I don’t think their leaving town will have much of an impact on the economy.
“Bring in a new company that may have more jobs than PBR has right now and more commerce Pueblo can benefit from,” Shaw said, even though PBR owns the most of the building at 101 W. Riverwalk. “So the economic impact of that building won’t change.”
What will happen with the Pro Bull Riders Sports Performance Center?
It’s unclear what will happen to the PBR Sports Performance Center.2019 saw the opening of the Pro Bull Riders Sports Performance Center at 310 Central Main St. in the Pueblo Convention Center structure.
According to its marketing, it is the first training facility of its kind for aspiring bull riders, athletes from other western sports, and amateur and professional athletes from a variety of sports.
Using cutting-edge tools and technology, the athletes engage in comprehensive fitness, nutrition, training, and recuperation regimens.
The center also has hosted special events for the PBR’s Team Series League.
“We are determining next steps for the Sports Performance Center,” stated Giangola. “The Pueblo Convention Center’s marketing director, Jacob Rivera, said that the Pueblo Urban Renewal Authority is addressing this matter.”
“We are following closely, but we don’t know any more at this time,” Rivera addressed the Chieftain, saying, “We are grateful for the partnership and have always had a great working relationship with PBR.”
“Operations of the Convention Center are administered through a management agreement with the Pueblo Urban Renewal Authority, but we are following this story with great interest.”
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