Governors Office of Economic Development OKs $30 million expansion incentive

Published: Friday, Feb. 11 2011 9:45 p.m. MST

HYRUM, Cache County — The Board of the Governor's Office of Economic Development Thursday approved a post-performance tax rebate to assist a meatpacking and processing facility to expand in Cache County.

JBS USA Holdings Inc. will invest more than $30 million in the development of a new and expanded facility in Hyrum. When completed, the facility will employ 420 new full time staff in addition to the nearly 1,000 current employees already working at the location.

The new positions will offer wages in excess of 100 percent of the Cache County average wage, including full benefits. New state wages paid over the 10-year life of the incentive should exceed $115 million and the state expects to receive more than $8.7 million in new taxes paid over the same period.

JBS USA Holdings Inc., formerly Swift Foods Company, is a wholly owned indirect subsidiary of JBS S.A., headquartered in Sao Paulo, Brazil. The company processes, packages and delivers fresh, processed and value-added beef, pork, lamb and mutton products to customers in more than 60 countries on six continents worldwide.

JBS currently has facilities in 10 states, including Utah. Currently, the Hyrum plant is one of the county's largest employers. The company sells products primarily to retail customers, such as grocery store chains, wholesale clubs and other retail distributors as well as food-service customers.

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