Edwards Lifesciences, which announced Thursday it expects to add more than 1,000 new jobs in Draper over the next 15 years, is one of a number of Utah companies still expanding despite the worst economic downturn since the Great Depression.
The heart-valve manufacturer said it has accepted the state's $11.5 million incentive package, plus $3 million in concessions from Draper where it will move next year into a 280,000-square-foot facility. The company is moving out of its crowded 75,000-square-foot facility in Midvale into the significantly larger digs, where it plans to add manufacturing and research and development positions, among other professional jobs.
Some of the money, $1.1 million, could be paid in a lump sum. Another approximately $10.4 million will be in the form of a tax credit over 15 years.
The Irvine, Calif.-based company currently employs 228 in its Midvale plant. The incentives played a role in its decision to expand, as did Utah's labor pool, said Edwards executive Paul Redmond.
"We know there is a talented work force here," he said.
Many of the expanding companies have received state incentive funds or are considering offers from the Governor's Office of Economic Development board, whose goal is to help offset some of the 55,400 jobs the state's economy has lost in the past year.
In addition to Edwards, some of those companies are eBay, Goldman Sachs and Procter & Gamble.
On Thursday, the board also offered a $2.1 million package to eBay.
The online auctioneer said it wants to add another 200 jobs to its Salt Lake City-based customer-service operation. Its incentives would be payable over 10 years for about half of those jobs, which pay about $52,000 annually, state officials said.
To qualify, companies must pay salaries that are at least 25 percent more than the average county wage of about $41,000. Edwards Lifesciences' average wage is $52,000.
Since opening a customer- service location in Utah in 1999 with 200 workers, employment by eBay in Utah has grown to 1,100 people.
In addition to adding hundreds of jobs to its customer-service unit, eBay also is adding a new Salt Lake County data-storage center in the Salt Lake City area that would create 50 high-paying jobs.
Many of the Utah expansions involve jobs paying significantly above the average wage. For example, in its application earlier this year for incentive money, Goldman Sachs officials said the average annual wage for the jobs planned for Salt Lake City, including benefits, will be about $62,000.
The financial services company plans to double its 500-member work force by the end of next year.
GOED's actions are "indicative of what we're trying to do here in growing the economy," Gov. Gary Herbert said Thursday. The companies singled out fit into his goal of having the state do more to help firms already located here.
Even with these expansions, though, job losses continue to outnumber job gains. Just this week, Utah had yet another high-profile layoff, when rocket-motor manufacturer Alliant Techsystems let go of 550 Utah workers.
In addition to a $2.1 million incentive offer to eBay, two production companies were offered incentives to film in Utah:
$407,000 » to Knights Templar Brewing Co., for "A Toast to the American Dream."
$30,000 » to Vineyard Products for the documentary about the Utah-based piano group "The 5 Browns."
Edwards LifeSciences won't be hiring 1,000 people all at once. The jobs number is simply an estimate of the number of positions that will be added in Draper over the next 15 years. For more information about job opportunities in Utah, go to www.edwards.com and click on "Careers" and then "Career Opportunities."
