Boulder city manager approves up to $20,000 in incentives for Boulder Brands

BOULDER — The city of Boulder has awarded packaged food company Boulder Brands Inc. (Nasdaq: BDBD) an incentive package worth up to $20,000 in rebates on permit fees and sales and use taxes.

The rebates were approved by city manager Jane Brautigam as part of the city’s flexible rebate program, which is used as a business retention tool to entice primary employers to remain and grow in Boulder by investing in facilities and equipment here. To receive the rebates, Boulder companies must meet certain social, community and environmental sustainability guidelines.

Just more than a year ago, the city awarded Boulder Brands $60,000 in similar incentives. 

“The Boulder community has been a supportive and engaging home for our business, and we look forward to many more productive years to come,” Boulder Brands CEO Steve Hughes said in a press release from the city.

Boulder Brands owns brands such as Earth Balance, Evol Foods, Glutino, Level, Smart Balance and Udi’s Gluten Free. The company moved its headquarters to 1600 Pearl St. in downtown Boulder in 2013.

The company has seen its stock price fall by nearly 50 percent since September as the company missed targets for sales growth and downgraded guidance. It is also the subject of a trio of lawsuits, including a trademark dispute with Pittsburgh-based H.J. Heinz Co.