BearVault seeks incentive to set up HQ in Louisville’s CTC

LOUISVILLE — Anhinga Co., a maker of bear-resistant food canisters for backpackers that does business as BearVault, is seeking a package of tax incentives to move its operations from California to the Colorado Technology Center business park in Louisville.

The firm is eyeing two CTC office condos totalling about 6,000 square feet on Cherry Street to house administrative operations, packaging and warehousing, according to a memo from Louisville’s economic vitality department.

BearVault anticipates capital investments of $450,000 to build out the space and is seeking local tax and fee rebates to offset some of those costs.

In all, the incentive package is worth nearly $10,000, city documents show.

In return, the company plans to create six new jobs over the next five years with annual average salaries of $76,000.

Additionally, “BearVault will generate retail sales tax, however, due to destination sourcing, most of this will be paid where their products are bought and shipped,” according to a city memo.

The Louisville City Council will review BearVault’s eligibility for tax incentives during its meeting Tuesday evening.

Recent firms approved for Louisville business-assistance assistance packages include Fresca Foods Inc., Jumpcloud and Forge Nano Inc.

© 2020 BizWest Media LLC

LOUISVILLE — Anhinga Co., a maker of bear-resistant food canisters for backpackers that does business as BearVault, is seeking a package of tax incentives to move its operations from California to the Colorado Technology Center business park in Louisville.

The firm is eyeing two CTC office condos totalling about 6,000 square feet on Cherry Street to house administrative operations, packaging and warehousing, according to a memo from Louisville’s economic vitality department.

BearVault anticipates capital investments of $450,000 to build out the space and is seeking local tax and fee rebates to offset some of those costs.

In all, the incentive package is worth nearly $10,000, city documents show.

In return, the company plans to create six new jobs over the next five years with annual average salaries of $76,000.

Additionally, “BearVault will generate retail sales tax, however, due to destination sourcing, most of this will be paid where their products are bought and shipped,” according to a city memo.

The Louisville City Council will review BearVault’s eligibility for tax incentives during its meeting Tuesday evening.

Recent firms approved for Louisville business-assistance assistance packages include Fresca Foods Inc., Jumpcloud and Forge Nano Inc.

© 2020 BizWest Media LLC