Boulder has $850,000 available for business incentives

BOULDER – The city of Boulder’s $850,000 business incentive pilot program is up and running, although it hasn’t had any takers, yet.

Application forms for two of the program’s elements – flexible rebates and employee training assistance – are available online at bouldercolorado.gov by clicking on “Business Incentive Program,” and Business Liaison Liz Hanson has been in talks with a number of companies that are interested.

But Hanson doesn’t expect applications to start coming in until next year.

 “There are about four companies I’m having detailed discussions with who I think are likely to apply,” she said. “They have all indicated to us that the fact that these incentives are in place is being factored into decision-making.”

Incentives – which include flexible rebates, employee training assistance, an owner-occupied loan pool and a Parks and Recreation discount – are available for primary employers within the city of Boulder. The key characteristic of a primary employer, according to Hanson, is that at least 75 percent of its revenues are derived from outside Boulder County.

Companies that apply for a flexible rebate will be able to negotiate with City Manager Frank Bruno for a specific package to meet their needs. It can cover a wide range of fees and taxes charged by the city including permit and development review fees and equipment and construction use taxes.

Under this program, the company is not eligible for a rebate until it has made its investment and paid the applicable taxes or fees to the city.

With $500,000 available for flexible rebates, Hanson expects about eight or 10 companies will apply.

It’s likely more will apply for employee-training assistance, Hanson said. The city has made $50,000 available for this incentive, and it has a cap of $1,000 per company per year.

Companies can apply five times per year for training assistance, but they don’t get the rebate until they show proof that the coursework has taken place, she said.

The Parks and Recreation discount gives employees of Boulder-based companies who don’t live in Boulder the same rate as residents. For this incentive, the company need not be a primary employer. The program is being administered through the Parks and Recreation Department and requires proof of Boulder employment, Hanson said. She did not know if workers are using it.

Guidelines for business incentives  One of the city of Boulder’s business incentives – flexible rebates  – requires meeting “social sustainability guidelines.” To be eligible for this incentive, businesses must comply with at least three of these five guidelines:

1. Pay a median annual wage equal to or more than the Colorado median annual wage, currently $51,022.

2. Offer and pay for some portion of health insurance for all full-time employees and their dependents.

3. Be an equal opportunity employer that encourages diversity in the work force through proactive hiring practices or diversity training.

4. Actively support the nonprofit sector through monetary donations or giving employees at least one paid day off per year so they can provide support to a Boulder County nonprofit.

5. Offer at least $50 per month in dependent-care assistance to employees who use day care or elder care.

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