In April 2026, a Danish manufacturer called Multicut A/S said it would open a production facility at Loveland's Forge Campus. The deal came wrapped in the numbers that make local news: up to $1,038,878 in state tax credits, 82 new jobs, wages set above the average in Larimer County. Internally, Colorado's economic development office tracked the deal under the name "Project Hedge." That's the kind of detail that makes an announcement feel substantial.
It's a fair read of the deal itself. It's a much less fair read of what the deal does to the price of a house in Loveland this fall, and that gap is worth working through carefully, because a large jobs projection was attached to this same address in 2012, and that earlier project took a different path than first expected.
What Actually Got Announced
Forge Campus sits on the old Hewlett-Packard site in Loveland, now marketed as a shared campus for advanced manufacturing companies. Multicut, founded in 1998 and headquartered in Denmark, makes precision parts for the space, energy, and defense sectors. At the time of the announcement the company had 220 employees worldwide, all but one of them in Denmark. The Loveland facility is meant to add 82 positions on this side of the Atlantic: engineers, machining and cutting operators, and related manufacturing roles. Colorado wasn't the only state in the running. Multicut was also weighing California and Arizona before choosing Loveland.
That's the deal as reported. The part that matters more for anyone watching the housing market is how the incentive actually gets paid.
The Incentive Is a Meter, Not a Switch
The $1,038,878 credit is a performance-based Job Growth Incentive Tax Credit, structured over eight years. Multicut doesn't collect it for showing up. The company has to hit net new job creation and wage targets over that period for the credit to pay out in full. In practice, that means the 82 jobs arrive on a schedule tied to hiring and payroll milestones stretched across most of a decade, not a single hiring wave that lands on Loveland's job market this quarter.
That distinction changes how fast this story can move a housing market, if it moves one at all.
The Campus Has a History Worth Knowing
The Forge Campus site has a history worth knowing before anyone treats a new tenant announcement as a guaranteed housing catalyst. Back in 2012, the same HP campus was positioned for a NASA-related project that was expected to bring thousands of high-tech jobs to Loveland. That project did not go forward as originally described. The site is now the multi-tenant Forge Campus, home to companies including another machine shop, Check Zero, alongside an on-site business accelerator and a brewery that caters campus events.
None of that says anything about Multicut's prospects. It shows that large job projections at a single site can unfold on a different timeline than first described, which is a good reason to measure this one against actual hiring as it happens.
What Loveland Home Prices Are Actually Doing Right Now
If the Multicut announcement were already moving Loveland's housing market, it would show up in the price data. It doesn't, and part of the reason it's hard to tell is that no two sources currently agree on what Loveland homes are even selling for.
| Source | Measurement | Period | Figure |
|---|---|---|---|
| Redfin | Median sale price | 3 months ending April 2026 | $490,000 |
| Zillow | Average home value (ZHVI) | As of July 31, 2026 | $509,866 |
| Movoto | Median sold price | August 2026 | $550,000 |
| Houzeo | Median sale price | March 2026 | $497,950 |
| Resideline | Median sold price, 6-month rolling | Through September 2026 | $491,250 |
Some of that spread comes from timing. Some comes from the difference between a median and an average, or between a single month's closings and a rolling six-month window. None of it traces back to Forge Campus. The gap between the lowest and highest figure here, roughly $60,000, is already larger than any bump a single employer with 82 phased-in jobs could plausibly produce on its own. Before layering a jobs story onto Loveland pricing, it helps to notice that the pricing data disagrees with itself for reasons that have nothing to do with jobs at all.
The Math That Actually Matters
Loveland isn't a small market. Redfin recorded 344 homes sold in April 2026 alone. Movoto counted 660 sales in August 2026. Across a year, that's a market moving through the thousands of closings.
Now put 82 jobs, phased over eight years, next to that volume. Even under generous assumptions, that's roughly ten new positions a year on average, and not every one of those hires buys a home in Loveland specifically, since some will rent, some will commute from elsewhere in Larimer County, and some already live locally. Ten households a year against a market selling in the hundreds each month is a rounding error, not a price lever. Aerospace and defense manufacturing already employs about 2,900 workers in Larimer County, so even the full 82 jobs represents a small addition to an existing sector rather than a new economic engine appearing from nothing.
The deal is real. Its footprint on this year's median price is not something the current data can support.
What Is Actually Worth Watching
The more useful signal isn't the press release. It's whether Forge Campus keeps filling out as a working employment site over the next several quarters. A single tenant announcement is a data point. A pattern of tenants, expanding lease activity, and hiring that shows up in local job postings over time is closer to the kind of signal that eventually shows up in housing demand. Multicut joining existing tenants like Check Zero is one more data point in that direction. It isn't yet the pattern.
For anyone tracking this specific corridor of Loveland, the more durable things to watch are building permit activity in the East Loveland area near the campus, whether other companies announce moves to Forge Campus over the coming year, and whether local hiring reports show the Multicut jobs actually landing on the schedule the incentive structure implies.
How to Use This If You're Actually Buying or Investing Here
If you're comparing Loveland to Fort Collins or Windsor and a listing agent mentions the Multicut deal as a reason a price makes sense, ask what specific comp supports that number, not what press release does. A single employer announcement, especially one paid out over eight years and contingent on performance, is not evidence that a specific block or subdivision has already repriced. Matched closed sales in the same price band, checked against the property in front of you, still tell you more than any regional jobs story.
If you're an investor thinking about small multifamily or land near this corridor, the Forge Campus story is worth a line in your file. It's not yet a reason to move faster than your underwriting supports.
Does the Multicut deal mean Loveland home prices will go up this year? Not on its own, and not on this timeline. The jobs are phased over eight years and tied to performance targets, and the number of positions is small relative to Loveland's monthly sales volume.
Is the area near Forge Campus a good place to buy right now? It depends on the specific property and comps, the same as anywhere else in Loveland. The campus is worth watching as it fills out with more tenants, but one employer isn't enough to change how you should price an individual purchase today.
If you're trying to figure out whether a specific Loveland property is priced on real comps or on a headline, that's exactly the kind of question worth a direct conversation. Fort Collins Real Estate has been working Larimer County long enough to know which announcements turn into housing demand and which ones sit for a decade first. Reach out for a free home valuation before you let a press release do the pricing for you.
