Guardian Bikes will begin operations in Freeman Field Industrial Park in Seymour moving from Austin, Texas. Seymour Redevelopment Commission approved a four-year $100,000 ECLIPSE loan to support the company’s project that will begin with logistics and expand into manufacturing and assembly. Seymour City Council also approved a $275,000 tax abatement for Guardian’s initial investment for equipment and machinery.
JCIDC developed the ECLIPSE program to provide a cash loan to help offset startup costs based on job creation. Loan proceeds come from tax increment finance or economic development income tax funds, and the amount of the loan is tied directly to the number of permanent, full-time jobs and wages. The program is designed to forgive the loan. Each year, Guardian will submit a compliance form to the redevelopment commission and city council to show jobs created, wages and residency of employees. Based on compliance, the boards would approve loan forgiveness or require the company to make that year’s loan payment.
Guardian currently assembles children’s bikes that are equipped with Sure-Stop, a braking system that allows bikes to stop faster and safer. Their technology is patented across the world and they are currently designing adult bicycles to grow their business. Guardian is expected to total nearly $7 million in investment and 100 employees by 2026.