Guide for relocation to Steamboat Springs, CO

PowerICE Receives Job Growth Tax Credit

PowerICE Receives Job Growth Tax Credit

The state, and a local energy food company, is helping Steamboat create more jobs. PowerICE, a local manufacturer of frozen, electrolyte-replenishing hydration bars, recently was awarded a $515,901 tax credit from Colorado’s Job Growth Incentive Tax Credit program for undertaking job creation projects that grow small business in Colorado.

“We’re committed to building our business in Colorado,” PowerICE President Grant Fenton says. “This incentive program will allow us to hire Colorado residents and contribute to the state’s economic growth as PowerICE expands. It’s great that the governor’s office supports small business development in rural and entrepreneurial communities like Steamboat.”

Administered by the Colorado Office of Economic Development and International Trade, the credit provides a state income tax credit to businesses undertaking job creation projects that would not occur otherwise. To qualify, the new jobs must have an average yearly wage of 110 percent of the county average wage, which is $54,411 in Routt County. The company has been approved for the creation of 100 new jobs throughout five years.

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