Jan. 5, 2012 - City Manager approves business incentive for Tendril

Contacts:
Sheila O’Neill, Tendril, 720-921-2216
Liz Hanson, Economic Vitality Coordinator, 303-441-3287
Sarah Huntley, Media Relations, 303-441-9155
www.bouldercolorado.gov

City Manager approves business incentive for Tendril

City Manager Jane S. Brautigam has approved a flexible rebate application for Boulder-based Tendril for up to $85,000 in rebates.  The rebates were authorized for sales and use taxes, and permit-related fees.

The flexible rebate program is one of the city’s business incentives, covering a wide range of fees, equipment and construction use taxes.  Under this program, the city manager may consider a specific incentive package for tax and fee rebates to meet a company’s specific needs.  The company is then eligible for the rebate after it has made its investment and paid the taxes or fees to the city.

“The City of Boulder is pleased that Tendril, a company founded in Boulder, is growing and able to maintain operations in the city, in part, due to city-offered incentives,” said City Manager Jane S. Brautigam.  “Tendril is at the forefront of energy technology and represents the future of the industry.”

Tendril is transforming the way the world interacts with energy. The company’s technology allows consumers to modify their behaviors to reduce both their costs and energy usage and allows the utility to speak with the consumer during peak periods in order to reduce demand. Tendril is expanding and recently renovated and moved into an approximately 52,000 square-foot space at 2560 55^th St.

“We are proud to be a Boulder-based company. Boulder provides access to great talent, an unmatched quality of life for our employees and a vibrant technology community that is quickly becoming a center of clean tech innovation,” said David Rayner, chief financial officer at Tendril.  “As a leader in clean technology, it is important to us that we ‘walk the walk’ on green initiatives and we’re thrilled to receive recognition from the City of Boulder for our sustainability efforts.”

The flexible rebate 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.  Tendril has exceeded the minimum community sustainability guidelines. Of note, Tendril participates in RTD’s Eco Pass program and has a Green Team responsible for managing environmental initiatives, including holding in-house educational sessions, purchasing energy-friendly appliances, and maintaining composting and recycling programs. The company will participate in energy efficiency programs such as receiving an energy assessment for its new facility and participating in the 10 for Change challenge.

Tendril’s flexible rebate application is one of six submitted to the city in late 2011. Five 2011 applications are pending.  The city’s approved 2012 budget includes $350,000 in funding for 2012 flexible tax and fee rebates for primary employers. 

For more information about the city’s economic vitality program, go to www.bouldercolorado.gov, click on "Business," or call Liz Hanson at 303-441-3287.

Last Updated on Friday, 15 June 2012 08:09