The Professional Bull Riders Inc. is heading out of town, relocating its headquarters to Texas after a 17-year run in Pueblo.
"PBR has moved its official corporate headquarters to 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.
The move impacts 40 jobs which will relocate from Pueblo to Texas, Giangola said. PBR will "maintain a presence in the Riverwalk building into mid-2025," he said.
"PBR has fulfilled our employment obligations to the city, bringing nearly two decades of jobs and exposure to Pueblo while the sport has grown rapidly. Moving to the heart of cowboy country positions the sport for further expansion," he said.
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 article indicated Pueblo had pledged $7.7 million toward the project — $5.2 million toward the PBR's administrative offices 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.
A groundbreaking was held April 11, 2006, and the 33,000-square-foot headquarters at 101 W. Riverwalk opened July 16, 2007. Jeff Shaw, president of the Pueblo Economic Development Corporation, said the number of jobs the business provided changed when Professional Bull Riders Inc. was sold to Endeavor in 2015, "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," Shaw explained.
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 leave."
"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." Shaw said. "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 great things to offer with our tax incentives, amenities, the community, our education and more," the statement reads.
Shaw said there was some worry that PBR would move from Pueblo when it moved its World Finals Championship from Las Vegas, Nevada, to Fort Worth, Texas, in 2021.
"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 said.
"Over time, in business, things change and I don't think we will feel the effect, if any, on the job side. I don't think we are going to see much of an effect economically from them leaving town," he said.
Although PBR owns a majority of the building at 101 W. Riverwalk, that space will become available to "bring in a new company that may have more jobs than PBR has right now and more commerce Pueblo can benefit from," Shaw said. "So the economic impact of that building won't change."
What will happen with the Pro Bull Riders Sports Performance Center?
The fate of the PBR Sports Performance Center is up in the air. The Pro Bull Riders Sports Performance Center opened in 2019 at 310 Central Main St. in the Pueblo Convention Center building.
It has been billed as the first training center of its kind for future bull riders, other western sports athletes, as well as amateur and professional athletes across a range of sports. The athletes participate in extensive fitness, nutrition, training and recovery programs using advanced equipment and technology.
The center also has hosted special events for the PBR's Team Series League.
"We are determining next steps for the Sports Performance Center," Giangola said.
"The Pueblo Urban Renewal Authority is working through this issue," said Jacob Rivera, marketing director for the Pueblo Convention Center. "We are following closely, but we don’t know any more at this time,"
"We have always had a great working relationship with PBR and are thankful for the partnership," Rivera told the Chieftain . "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."
More on Pro Bull Riders: PBR’s operations: Strong as a bull
Chieftain reporter Tracy Harmon covers business news. She can be reached by email at tharmon@chieftain.com or via X , formerly Twitter, at twitter.com/tracywumps . Support local news, subscribe to The Pueblo Chieftain at subscribe.chieftain.com .
This article originally appeared on The Pueblo Chieftain: No bull: Professional Bull Riders move headquarters out of Pueblo after 17-year run
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