The word "headquarters" dominated state financial incentive discussions Thursday by the Governor's Office of Economic Development Board.
If companies act on incentives they received Thursday, Utah would gain a corporate headquarters, add a corporate brand headquarters and retain a corporation headquarters.
The board approved a nearly $1.8 million tax-credit incentive for the S Group, which is considering Philadelphia and Utah for its consolidated corporate headquarters.
S Group consists of SA International, a Philadelphia-based software developer, and Park City-based S3 Entertainment. SA International serves the large-format printing industry. The company has additional offices in Belgium, Brazil, Puerto Rico and China, with more than 100,000 customers in more than 50 countries.
S3 provides home-entertainment and automation products; customized home-theater systems; and integrated audio, video, telephone, networking and home-automation services. The company has offices in Park City, Salt Lake City and Centerville; and in Tamarack, Idaho.
If the S Group opts for Utah, the state would gain 129 full-time employees over 10 years and retain 33 S3 employees. The company is considering Salt Lake City, West Valley City and North Salt Lake. The move would generate more than $63 million in new state wages over 10 years and more than $7 million in new state tax revenues during that time, board documents show. The new jobs would pay an average of $77,000 annually.
The board also approved a nearly $2.8 million tax credit for Quality Bicycle Products, which is a wholesaler of parts and accessories for bicycles and snow-sports equipment. The company also has several bicycle brands.
The company is considering Ogden for a distribution facility with a regional customer service center and the world headquarters for one or two of its brands. Utah stands to gain 71 full-time positions over 10 years, with an average annual salary of $48,000.
The capital investment would be more than $5 million. Utah would gain more than $33 million in new state wages over 10 years and more than $10 million in new state tax revenue during that period. Ogden's proposed $1.3 million incentive has yet to be made final.
Quality Bicycle Products opened in 1981 in St. Paul, Minn., and now has more than 450 employees in distribution and office space in Bloomington, Minn.
Ogden would retain a corporate headquarters if Top Ten Reviews takes advantage of a $741,841 tax credit the board approved Thursday. The Web-based product review company, founded in 2003 as e-Catapult, also is considering Idaho for its headquarters. If the company stays in Ogden, the area would retain 62 jobs and be in line for 165 new jobs over the next 7 1/2 years, paying about $50,000 annually.
Utah stands to get more than $45 million in new state wages over 7 1/2 years and more than $3.5 million in new state tax revenue during that time.
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