The U.S. Department of Agriculture’s planned relocation of up to 2,600 employees to Fort Collins could bring more than $1 billion in new business output and over 6,000 new jobs to the area by the end of next year, according to a study by the think tank Common Sense Institute.

In July, Agriculture Secretary Brooke Rollins announced that the department would be relocating up to 2,600 personnel and operations to five new hubs, including Fort Collins.

According to CSI study authors Dr. Caitlin McKennie and Cooper Pollard, the move is expected to “stimulate job creation, bolster local businesses, and enhance collaboration with Colorado State University,” which ranks 23rd in the nation for agricultural sciences.

Agriculture plays a “vital role” in Colorado’s economy, McKennie and Pollard said, contributing through direct channels like employment and goods production, but also indirectly through tax revenue and “value-added activities.”

The state ranks among the Top 10 in the nation for production of more than a dozen crop varieties. Colorado is also the nation’s leading processor of lamb and sheep.

The study considered the economic impact of the relocation of 500, 1,000, 1,500, 2,000, and 2,600 USDA employees to Fort Collins, estimating the area’s economic output to grow anywhere from $270 million to $1.4 billion by the end of 2026.

In addition, the Fort Collins area’s GDP is estimated to grow anywhere from $164 million to $854 million in that same period.

Read the full report here.