New state revenues are expected to be more than $98.5 million over 10 years and $280 million over 20 years, according to board documents. New state wages over 10 years will top $400 million. Over 20 years, they are expected to be more than $1 billion.

The state incentive, approved at a special board meeting, will be a tax rebate of half of new state revenue for the first five years the plant is operating, then lower percentages over the remaining 15 years of the incentive. The net incentive is 30 percent of new state revenues, or about $85 million. The company will be required to commit to keep the operations in Utah at least 20 years.

Box Elder County had been working on a local incentive in the form of refunding incremental property taxes for up to 20 years.

Utah's incentive for P&G is the largest in the state's history. The previous high was approved in March 2006 for IM Flash Technologies LLC's headquarters in Lehi. The incentive was estimated at the time to be about $15 million. It involved a rebate of up to 30 percent of new incremental state revenue over a five-year period after the plant is operating.

Cincinnati-based P&G has more than 138,000 employees in more than 80 countries and provides products and services to people in more than 180 countries.

P&G, founded 170 years ago this month, had revenue of $76.5 billion, operating income of $15.45 billion and net income of $10.34 billion for the year ended June 30. During the fiscal fourth quarter, the company reported revenue of $19.3 billion, operating income of $3.4 billion and net income of $2.26 billion. It has 23 brands that each generate more than $1 billion in annual sales and 18 brands with sales between $500 million and $1 billion.

Overall, the company has nearly 300 brands. In press materials, it notes that its brands "touch the lives of people around the world" three billion times a day.

The company's market capitalization is more than $200 billion, making it the seventh most valuable company in the country and 13th-ranked in the world.

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E-mail: bwallace@desnews.com