SALT LAKE CITY — Environmental StoneWorks, along with the Governor’s Office of Economic Development, announced plans Thursday to build a manufacturing facility in Washington County that would create 124 new jobs and lead to $2 million in capital investment.
Upon completion, the manufactured stone veneer plant to be constructed in St. George will provide the company capacity to service current markets in the West, while also allowing opportunities for growth and increased market share moving forward.
For more than 30 years, Environmental StoneWorks has expanded its capacity to offer a wide range of stone and brick veneer products and installation services to builders nationwide.
The creation of the manufacturing facility in Utah is expected to lead to more than $40 million in new state wages and $2.5 million in new state tax revenue. Salaries of the new tax-incentive supported jobs are contracted to pay at least 100 percent of the Washington County average wage and include benefits.
As part of the contract, the GOED Board of Directors approved a maximum cap tax credit of $514,304 in the form of a post-performance Economic Development Tax Increment Finance incentive, which is 20 percent of the net taxes the company will pay over the 10-year life of the agreement.
Copyright 2016, Deseret News Publishing Company