For Sweetwater Business Success is an IcyBreeze
In 2018, IcyBreeze brought to Sweetwater Economic Development’s (SEED) attention the need and desire to expand their current operations. As with any expansion there are major costs involved. Whether that be with the onboarding of new employees, or expansion of facilities. At the time, IcyBreeze was distributing their products to major retail outlets nationally as well as directly to consumers through their website. With the increased volume, they needed to bring on new employees and increase their warehouse space. To aide in that effort, the Board of Directors of SEED decided to enter into a five-year incentive agreement for a maximum amount of $275,000.00 with IcyBreeze to offset their costs and encourage their growth. The incentive had two major aspects. The first being a possible financial incentive of $150,000, or $3,000 for every new full-time position created. At the beginning of the agreement in 2018, IcyBreeze had 13 employees. As of January 2023, IcyBreeze employs 32 people. We are confident that IcyBreeze will continue the trend and hire more employees in the years to come.
The second aspect of the incentive was an increase in gross sales. Upon meeting certain milestones, IcyBreeze would be entitled to a total incentive of up to $125,000. IcyBreeze has continued to increase their sales year over year. To do this, they have focused on making a product that their customers will continually use and on marketing their products in a wide variety of ways.
Since 2018, IcyBreeze has increased their sales an average of 174 percent each year, despite the two years of covid being included...
Through innovative approaches to designing their products and a partnership with another local company to produce some of the components, IcyBreeze is showing no signs of slowing down. Due to this substantial growth, IcyBreeze has had to increase their warehouse space multiple times. With their most recent expansion completed in November of 2022, they have grown from working out of just 8,500 square feet to over 50,000 square feet.
Part of our community’s competitive advantage is the diversity of our economy. IcyBreeze is a part of that diversity. We are thankful for their decision to locate in Sweetwater, and we are looking forward to watching their success in the years to come. Sweetwater really is the “Sweetest place to Live, Work and Play.”