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Hayden — Editor's note: This story has been corrected from its original version. Rodney McGowen's name was misspelled.

Hayden wants to pump up its business community, but not at the expense of its standards, Town Manager Russ Martin said.

The town's Economic Development Commission met Feb. 26 with the Town Board of Trustees. The conversation centered on proposed incentives for businesses that enter, expand in or relocate to Hayden.

"There's two ways to incentivize," Martin said last week. "One is to lower your standards. The other is to pay for the standards you want to keep. That's the one we're going to try to do."

The Town Board hasn't approved a plan yet, but the economic development group presented a draft. The idea is to return some of the economic benefit back to new or expanded businesses, Martin said.

For example, the town could agree to return a percentage of the sales tax income a new business generates. That would help pay for improvements the town requires the business to make, such as landscaping, Martin said. If that new business didn't generate more sales tax dollars, it wouldn't get a check, he said.

"We don't have the resources to be throwing out there," Martin said. The town doesn't want to go out of pocket to draw new business, he said.

Rodney McGowen, Hayden Economic Development Commission chairman, said he was pleased with the discussion with the Town Board. His commission plans to revise its proposal and present it to the board in April.

Martin and Trustee Richard "Festus" Hagins also tentatively mentioned the possibility of large-format retail in Hayden. A chain retailer, or possibly a hotel, could attract families with children, Hagins said.

"If we had a hotel, we'd have the opportunity for people to live and work in Hayden instead of traveling to Steamboat," he said.

Incentives also could bring needed services to town, Martin said.

"One of the things we talk about is item availability: What if we had those items available in Hayden that we have to get somewhere else?" Martin asked. For example, Hayden doesn't have a pharmacy.

Martin stressed that Hayden wouldn't lower its standards to attract business. The Town Board would decide whether to offer incentives to a proposed business.

"We want to make sure we don't lower the bar the first time we get approached with something that could really benefit the town," Martin said.

Hayden is an attractive place for businesses, he said. It offers land, a good development process and a good community, Martin said.

McGowen offered a message to businesses.

"If you're looking to expand in or relocate to a more pro-business community, know this: Hayden is more than willing to do whatever we can to get you here," McGowen said. "We are open for business."