From Deseret News archives:

Utah offering $2M incentive for 'Musical 3'

Incentive$ pay dividend$

Published: Saturday, Dec. 15, 2007 12:31 a.m. MST
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The company would be required to pay 40 percent above the Juab County median wage. Board documents indicate the pay for new jobs actually would be 60 percent over the county median and the retained jobs would be 69 percent above the median. The state incentive is subject to a local incentive of at least $100,000 in infrastructure improvements and access to $350,000 in revolving loan fund availability at lower-than-market rates.

Barnes Bullets had sought a $900,000 state incentive. Utah is competing against South Dakota and possibly Wyoming and Idaho, board documents show.

The board also approved a change in an incentive approved in April. Malnove Inc. of Utah was approved for a tax rebate of up to $286,000 for a relocation and expansion. The change would allow the company to remain at the Freeport Center in Davis County or move to Ogden, and adjusts the average salary requirement to at least 50 percent above the Weber County median or 40 percent above the Davis County median.

The project would retain 104 employees and create 63 new jobs. Reno and Las Vegas, Nev., and Stockton, Calif., also are competing to land the expanded operations.


E-mail: bwallace@desnews.com

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Image

Cast members of "High School Musical 2" perform "What Time Is It" in the sequel that was filmed in Utah. The Governor's Office of Economic Development Board is trying to lure film producers back to Utah to shoot the third television movie in the Disney series.

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