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EDC, Town team up to keep growing Castle Rock business in town
What began as a one-man show about five years ago has blossomed to nine full-time employees with more on the way. Thanks in part to the Town of Castle Rock’s $5 million economic development performance fund, Innovative Business Solutions will expand in Castle Rock.
Mike Trede founded Innovative Business Solutions, and was joined by Jed Kenzy in August 2010. The two men have since worked to grow the company exponentially, with revenue more than doubling from 2010 to 2011.
"Today's economic challenges call for innovative solutions for the Town of Castle Rock and our business community,” said Castle Rock Mayor Paul Donahue. “The economic development fund is a solution that was created for the purpose of attracting and keeping businesses like IBS, and the jobs they provide, in Castle Rock."
Innovative Business Solutions designs, deploys and manages communication networks for businesses with a variety of communication needs. The company specializes in high-speed internet, T1 services, VOIP, Ethernet, fiber optics as well as local and long-distance telephone services. Learn more at www.innovative-business.net .
“Mike created a solid organizational structure and focuses on improving business operations while I focus on growing our sales base,” said Kenzy.
Innovative Business Solutions had been renting space in downtown Castle Rock, but needed more space to accommodate its growing workforce. While both Trede and Kenzy wanted to stay in Castle Rock, they were tempted to take advantage of sites outside of town that had a lower purchase point. That’s when the Castle Rock Economic Development Council stepped in. The Town and Castle Rock EDC worked together to offer an incentive package that helped make it possible for Innovative Business Solutions to purchase space at Spiral Pointe in downtown Castle Rock.
“We are excited to remain in Castle Rock, close to all the amenities of our growing downtown and close to our homes,” Kenzy said. “We want to build roots in this community.”
The incentive package will include reimbursements for new jobs created as well as a 50 percent rebate on its building permit to finish the interior of the space at Spiral Pointe. The Town and EDC chose to provide an incentive to keep the company here because Innovative Business Solutions is a target industry (high tech) and offers high-paying job opportunities for residents.
“Innovative Business Solutions is exactly the type of company we want to encourage and cultivate in Castle Rock,” said Frank Gray, president and CEO of Castle Rock EDC. “Keeping our high-performing companies in Castle Rock is our highest priority.”
Castle Rock’s unique $5 million performance fund provides additional tools for Castle Rock brokers to encourage businesses to consider Castle Rock for its operations.
“Having interfaced with many different municipalities along the Front Range doing commercial real estate deals I can unequivocally say that the Town of Castle Rock is one of the most pro-active, business-friendly towns in Colorado,” said Matt Call, principal of NavPoint Real Estate Group. “The EDC and Town staffs were instrumental in facilitating an incentive plan that motivated IBS to stay and grow in Castle Rock and purchase an office space at Spiral Pointe. It is a pleasure to work with the Town of Castle Rock. They definitely make it easier to get deals done.”