City of Boulder OKs MBio for rebates

BOULDER – MBio Diagnostics Inc. has been approved to receive up to $30,000 in rebates from the city of Boulder for sales and use taxes, and permit-related fees.

MBio Diagnostics is a medical-device company founded in 2009 by Christopher Myatt and Sarah Hatcher as a spinoff of Precision Photonics Corp., also in Boulder. MBio Diagnostics’ first product allows rapid diagnosis from a single drop of a patient’s blood, plasma or serum for low-cost testing for HIV and hepatitis.

MBio Diagnostics renovated a 17,000-square-foot building at 5603 Arapahoe Ave., Suite 1, to accommodate its 32 employees and planned growth.

The flexible rebate program is one of the city’s business incentives, covering a wide range of fees, equipment and construction use taxes. A company is eligible for the rebate after it has made its investment and paid the taxes or fees to the city.

The program uses social, community and environmental-sustainability guidelines. Companies choose the guidelines that best fit their circumstances, but must meet minimum requirements in order to receive the rebate. MBio Diagnostics provides indoor bike parking, shower and locker facilities for its employees and is implementing an environmental purchasing policy. In addition, the company offers a recycling program through the Center for Hard to Recycle Materials.

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