Quantcast

GOED approves incentives that could bring 1,100 jobs to Utah

Published: Thursday, May 10 2012 4:29 p.m. MDT

SALT LAKE CITY — The Governor’s Office of Economic Development Board approved incentives for four companies that are expected to bring 1,133 new jobs and more than $160 million of capital investment to the state over the next 20 years.

According to a news release, each company plans to pay wages in excess of 125 percent of the county average wage in which it eventually locates.

Among the companies receiving incentives were Xactware Solutions — which provides software and services for insurance professionals involved in estimating all phases of building and repair — plans to expand its headquarters and operations in Utah. The Orem-based company and GOED announced plans for 859 new full-time positions to be created over a 20-year agreement.

The company will make a $130 million capital investment in a new facility and infrastructure to house its Utah employees. As the company completes the expansion, it will qualify for a maximum post-performance tax credit of up to $32.3 million over the life of the agreement.

Peterbilt of Utah — which sells big-rig trucks, parts and services from its dealership locations in Utah, Idaho, Colorado and Nevada — will be adding 50 new full time employees over the next five years and will invest $12 million in capital improvements to its Utah facilities, including its South Salt Lake headquarters.

Also, Salt Lake City-based Schiff Nutrition International Inc. received a $300,000 post-performance incentive and expects to invest approximately $1.5 million in growth capital over the next several years. During the six-year agreement, Schiff will add up to 100 new Utah employees.

Lastly, FLSmidth — a supplier of equipment and services to the global minerals and cement industries — will expand its Midvale technology center. The new facility will bring approximately 125 new full time jobs over a 10-year period.

Get The Deseret News Everywhere

Subscribe

Mobile

RSS