The Colorado Economic Development Commission on Thursday approved $2.9 million in job-growth incentive tax credits for a German maker of fitness equipment if it locates 285 jobs in Boulder.
The unnamed company, known as Project Vollgas, was founded in 2010 and employs 300 people, mostly in Europe. It is looking for a U.S. hub to host sales, operations and customer service workers. The jobs under consideration for Boulder will pay an average annual wage of $76,516.
“It will be their largest and most dynamic presence in the U.S. so far. Their U.S. debut,” said Rebecca Gillis, manager of global business development at the Colorado Office of Economic Development and International Trade.
Gillis said the state has provided incentives to other health and fitness companies, but added the German company, which is both an equipment manufacturer and a software developer, represents a different type of venture.
The City of Boulder is working on a separate package of local incentives to help the company obtain the space it needs to house the new hires, Gillis said.
Other cities Boulder is competing against are San Francisco, Manhattan, and Austin, Texas.