Commission recommends $ 2.1 million in incentives to bring COVID-focused business to Larimer County – Loveland Reporter-Herald

A state commission unanimously approved the offer of incentives worth $ 2.1 million to a Florida diagnostic company, which said it could create 298 jobs in County of Larimer.

The Economic Development Commissioners voted 9-0 with one member absent. The state’s EDC is part of the state’s Office for Economic Development and International Trade.

Documents on EDC’s agenda indicate that technical, professional and manufacturing jobs carry an average annual salary of about $ 68,100, which is about 25% more than the county’s average annual salary. The funds would come in the form of tax credits and would be based on the company’s performance over eight years, according to the reports.

The discussion at the Zoom meeting noted that funding would also depend on raising $ 9 million out of the $ 12.5 million it is seeking under a current funding round. The company has one employee and more than 50 subcontractors, according to information from the commission.

The company is also considering expanding to Utah instead of Colorado.

The documents do not name the company, but Eric Doherty spoke at the meeting and said he was the president of the company. BizWest research linked Doherty to Blink Science Inc., based in Jacksonville, Florida. Doherty was appointed to the post in January, according to a press release from the company.

The company’s documents said they were developing “high-tech, low-cost diagnostic tools …

Some of its products are intended for use against COVID.

An August press release said a product uses a mobile app and “HIPAA-compliant cloud” technology to help “businesses aggregate and standardize third-party COVID testing and vaccination data for employees, ensuring a secure operating environment while maintaining confidentiality ”.

In March, the company joined a group aiming to design “interoperable digital health card systems as a way to safely restore international travel, resume public life and restart the global economy.”

Doherty said the company’s plans include building a molecular diagnostic facility to include laboratory and small animal testing, as well as manufacturing: “small electronic components and chips: partially manufactured chips (and) clean rooms to finalize the chips in the installation “.

He noted potential interactions with high school and college students, disease researchers at Colorado State University, and some early testing work the company is doing for the Department of Defense.

© BizWest Media LLC

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