Janelle, ice melt contains calcium chloride, which has the potential to be corrosive. It may cause severe skin and gastrointestinal tract irritation, depending on the concentration and circumstances of exposure. Because of this, if you plan to use this ice melt on your property, take care not to apply it thickly—and wipe your dog's paws off thoroughly if he or she steps on any of the crystals or pellets.
As an extra note, keep a look out for ice melt products that are labeled as “pet safe.” You may wish to consider these as a relatively safer alternative.