From Deseret News archives:
State is offering tax incentives to several firms
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Dot Foods is considering 2455 W. 1500 South, which has 125,501 square feet of dry warehouse and office area, 68,577 square feet of freezer area and a 7,365-square-foot truck maintenance shop.
The company wants to select a site by this month and have it operational by January 2008, documents show.
Landing the operation would add $7.3 million in new state revenue and $12.3 million in new state wages over 10 years, board documents indicate. The company's capital investment would be $10 million.
Syracuse Castings was approved for a $585,000 tax rebate over 10 years for a new manufacturing operation in Tooele. It had sought a $1 million rebate incentive.
Syracuse Castings is considering other Western states or an expansion in New York for the operation. Tooele City has paid $500,000 for the infrastructure for the creation of an economic development authority where the plant would be located and is offering to help the company acquire property for future expansion.
If Utah gets the new facility, it is expecting to gain nearly $2 million in new state revenue and nearly $20.9 million in new state wages over a 10-year period. The company's capital investment is projected at nearly $1.6 million.
Syracuse Castings is a wholly owned subsidiary of the Campbell Foundry Co. of Harrison, N.J., that employs more than 100 people, with executive offices, sales, manufacturing and distribution located in Cicero, N.Y. Campbell Foundry also operates a foundry in Emporia, Va.
The company offers three basic product lines: cast iron construction products, including manhole frames and covers; fabricated steel, including highway drainage grates; and access hatches.
E-mail: bwallace@desnews.com
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