Xiotech Corp. Moves Headquarters To Colorado

COLORADO SPRINGS, Colo. (AP) — A company that makes computer storage devices has moved its headquarters from Minnesota to Colorado Springs, where it has research operations.

Xiotech Corp. Chief Marketing Officer Brian Reagan tells The Gazette the privately held company plans to move about 20 workers from Eden Prairie, Minn., and hire about 10 people locally over the next three months.

He says employees who don’t move will get two months of pay as part of a severance package, and about 30 employees will remain in Minnesota, including some sales, customer support and engineers. The St. Paul Pioneer Press reports Xiotech had about 65 to 70 employees in Minnesota.

Top executives will continue working out of home offices around the country.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • Joe Hanson

    “Colorado’s corporation income tax rate is a flat 4.63%.”
    “Colorado’s individual (personal) income tax rate is a flat 4.63%.”

  • Robespierre

    Yet another triumph for the enlightened economic policies of Minnesota’s DFL party!

  • david

    Dayton wants to spend more. Tax more, but his trust is located in South Dakota with no tax.

  • xughh

    have anyone noticed that Minnesotsa sucks?
    its harsh winters are just as cold as people in Minnesota are.

  • Tom

    if i had a business in MN i would move it to another state also with this tax and spend governer we have now.

  • Devoided

    The reality is that it is probably more related to Compellent being purchased by Dell than anything else, but no one could expect WCCO reporters (I think they are all high school age bloggers) to dig any deeper. After all it took them 3+ days to pick up on the UFC/Obama threat story.

  • R IIII

    Our commercial property tax rates in Minnesota are one of the highest if not the highest in the country. You are sales taxed on the equipment when it is purchased. You are also property taxed on the manufacturing equipment, as it is part of the property. Worker comp rates here are real high and unemployment rates have gone up. When you add in our high income tax rates it makes no sense to locate a business here. We are going to continue to hemorrhage real jobs like manufacturing and none will be added unless something is done.

    • David J. Conklin

      >Our commercial property tax rates in Minnesota are one of the highest if not the highest in the country.
      Nice claim; where’s the proof? BTW, the state doesn’t set property tax values.

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