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Relius Medical, LLC is a medical device manufacturer that engineers and manufactures orthopedic and non-orthopedic products. Relius purchased previously held assets of another company and was able to retain many of the previous employees, ultimately saving over 100 jobs.Here's how the city's investment shakes out over the longer term:
Since commencing operations in 2014, Relius employs 135 people and has been committed to developing and growing its workforce through collaborative efforts with community organizations such as Pikes Peak Community College, Pikes Peak Workforce Center, and Mount Carmel Veterans Service Center....
The Executive Branch is recommending that the City provide certain performance-based incentives for investment and job creation.
Relius Medical, LLC has investment plans for business expansion and job creation. The company estimates that it will invest $5 million in machinery and equipment. The company expects to hire 25 new full time employees over the next 4 years at an average wage of $34,337.
The Executive Branch is recommending that the City enter into an Economic Development Agreement to provide certain performance-based incentives for the company to invest in business personal property and job creation. The proposed City incentive is:
Sales and Use Tax Rebate on Annual Purchases of Business Personal Property (50% of the City’s 2% General Fund Rate, or a 1% Total Rebate).