Amazon is keeping Denver and 19 other cities in a holding pattern regarding its decision on a second headquarters. But Slack Technologies, the rapidly growing workplace messaging platform based in San Francisco, is giving serious consideration to the metro area for a second home.
The Colorado Economic Development Commission on Thursday approved the up-and-coming tech firm for up to $10.6 million in state job growth incentive tax credits if it brings up to 550 net new full-time jobs to the state.
The jobs include positions in research and development, customer service, administration and sales and marketing. The average annual wage of those jobs will be $107,975, which is 63 percent higher than the average annual wage in Denver County.
“We feel Colorado’s offer puts us in a good competitive position,” said Dan Lane, global business manager with the Colorado Office of Economic Development and International Trade.
Phoenix; Austin, Texas; and Portland, Ore., are the other cities that Slack is studying for its HQ2. But Colorado was the first to put an offer on the table, Lane said.
“We have a first-mover advantage,” Lane said, adding that Slack is looking to make a decision on its new location by early summer.
Slack was founded in 2009 in Vancouver, British Columbia, as Tiny Speck, which produced a computer game called “Glitch.’ The company relocated to San Francisco and shifted its focus to developing a communication platform called Slack that allows workers to interact more efficiently than via email.
The company has raised $841 million in private equity, including a $250 million round last fall led by Softbank’s Vision Fund. That round lifted the company’s estimated value to $5.1 billion.
State tax credits won’t benefit Slack directly unless it starts to turn a profit, which isn’t the case yet. But Colorado did change its rules to allow companies to sell …read more
Source:: The Denver Post – Business