Rebates, rebates, more rebates and…. jobs

City manager approves business incentive for Biodesix

City Manager Jane S. Brautigam has approved a flexible rebate application for Biodesix for up to $60,000 in rebates.  The rebates were authorized for sales and use taxes, and permit-related fees.

“The city is very pleased that Biodesix is moving its headquarters to Boulder and that the flexible rebate program will assist the company with its planned growth,” Brautigam said. “The city is committed to fostering a successful biotechnology industry in Boulder and welcomes Biodesix as a part of that community.”

A rapidly growing biotechnology company, Biodesix is focused on the development of diagnostic products for personalized medicine that inform treatment decisions and improve patient care.  The company’s first product, VeriStrat, enables more informed decision-making for advanced lung and breast cancer patients by identifying patients who are likely to have good or poor outcomes after treatment with specific drugs.

In order to take advantage of Boulder’s growing biotechnology industry and proximity to its employees, Biodesix recently moved from Broomfield to a new facility at 2970 Wilderness Place. The company currently has 33 employees at its Boulder office and plans to add up to 40 more by the end of 2013. The rebate will help Biodesix as it continues its fast-paced growth and expansion in Boulder.

“We are delighted to have our corporate headquarters here in Boulder,” commented David Brunel, chief executive officer of Biodesix. “The city’s commitment to attracting and retaining technology-based companies is admirable, and we are proud to be among the growing biotech community here.”

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. Biodesix has met the necessary requirements. Of note, Biodesix’s new facility has shower and changing facilities, and secure bike parking for its employees. In addition, the company is implementing a zero waste program, will participate in the 10 for Change Challenge and requested EnergySmart training.

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

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.

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