SALT LAKE CITY — The Governor’s Office of Economic Development announced Thursday that Airgas Inc., one of the nation’s leading suppliers of industrial, medical and specialty gases, will build a new gas production facility in Tooele County.
The project will lead to a significant capital investment and the creation of about 25 new jobs.
When fully operational, the jobs will pay at least 100 percent of the Tooele County average wage, with each position including company contributed health insurance, and will generate $1,475,181 in new state wages over the 10-year life of the agreement. The state will also benefit from $462,998 in new state taxes over the decadelong period.
Airgas specialty gases are used in research and commercial laboratories, for environmental monitoring and generating lasers used in health care and manufacturing.
As part of a contract with Airgas, the GOED board of directors approved a maximum cap tax credit of $106,652 in the form of a post-performance Economic Development Tax Increment Finance incentive, which is 20 percent of the net taxes Airgas will pay over the 10-year span of the agreement. Each year that Airgas meets the criteria in its contract with the state, the company will earn a portion of the tax credit incentive.
“Airgas is very excited to expand our specialty gas footprint with this new facility in Utah,” said Andrew Cichocki, president of Airgas USA. “Tooele County is the perfect location to support Airgas’ growth in the western states. We look forward to the completion of this project and the start up next spring.”
Email: email@example.com, Twitter: JasenLee1
Copyright 2016, Deseret News Publishing Company