Jan. 27, 2012 - City Manager approves business incentive for Eetrex
City Manager approves business incentive for Eetrex
City Manager Jane S. Brautigam has approved a flexible rebate application for Boulder-based Eetrex Incorporated, for up to $26,000 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.
“Eetrex is part of the new energy economy and is leading innovation in power electronics and battery systems,” Brautigam said. “The city is pleased that its incentives are helping Eetrex grow and stay in
Eetrex develops power electronics and battery systems for the electric and plug-in hybrid-electric vehicles, telecommunications, and computing industries. The company is also the leading developer of on-vehicle inverter-chargers, known as Invergers™. Its battery systems are being used in demonstration projects to show how they can effectively store energy from wind and solar generation to offset peak loads and utilize clean energy more effectively. In 2006, Eetrex was founded in
Kathryn Miles, president of Eetrex, said, “Eetrex is committed to supporting the community and establishing our business as an environmentally conscious company. Not only is our technology helping to green the transportation industry and support alternative energy, but we also encourage employees to ride their bicycles to work along with our zero waste practices. We are very pleased to receive this award in recognition of our 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. Eetrex has exceeded the minimum requirements of the community sustainability guidelines. Of note, Eetrex is implementing a zero waste policy through Green Girl Recycling and is a member of the 10 for Change challenge, which included an energy audit of its facility. The company also will request an EnergySmart training through the city’s Local Environmental Action Division.
Eetrex’s flexible rebate application is one of six submitted to the city in late 2011. Four 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
Last Updated on Friday, 15 June 2012 08:05