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Decorworx projected to receive tax rebates for adding 164 jobs
Decorworx, a Cedar City company, is projected to receive tax rebates of up to $318,124 from the state if it adds 164 jobs over the next eight years with an $11.5 million expansion of its customized decor plant.
The Governor's Office of Economic Development board approved the post-performance tax incentive earlier this month.
Decorworx President Jeff Dansie said the jobs will include sales, engineering, design and crafts positions. In aggregate, their wages will be 110 percent of the Iron County average, generating $30 million in the eight-year span.
New states tax revenues in that period are pegged at $1.6 million, said GOED Executive Director Val Hale, adding "it is rewarding to help a family-owned, homegrown company like Decorworx. Supporting expansions like this is important to our communities."
Dansie said the company officials "find daily inspiration from our lifestyle in Cedar City and the surrounding area." A specific location for the expansion has not been determined, he added.
Cottonwood Corp. campus purchased by Global REIT II, Inc.
The Cottonwood Corporate Center's four-building campus in Cottonwood Heights has been purchased by Hines Global REIT II, Inc., established in 2014 by the international real estate firm Hines. Terms were not disclosed.
A company called NOP Cottonwood Holdings sold the five- and six-story buildings, built between 1997 and 2000 and containing 490,030 square feet of office space.
"We were attracted to the opportunity to acquire this best-in-class office asset in a very desirable suburban submarket of Salt Lake City," said Hines Global REIT President and CEO Sherri Schugart.
She noted that 91 percent of the property is leased to 25 tenants. The largest are Western Digital, a storage technology company that leases 31 percent of the rentable area, and Extra Space Storage, with 15 percent.
Founded in 1957, Hines now has a presence in 182 cities in 20 countries. It has $89.1 billion of assets under management, 109 developments under way globally and 457 properties in its management portfolio, representing almost 200 million of square feet of space.
Salt Lake City's Pluralsight acquires Train Simple
Pluralsight, a Salt Lake City company that provides online educational training programs for technology professionals, has expanded its presence in the Adobe-centric training area with the acquisition of a company called Train Simple.
Along with its 2014 purchase of Digital-Tutors, Pluralsight now has more than 1,200 courses "covering the entire Adobe Creative Cloud suite as well as other Adobe flagship technologies," said Pluralsight co-founder and CEO Aaron Skonnard.
Terms were not disclosed. Train Simple's website said it has offices in California and Massachusetts.
Train Simple's products have been used by companies such as Disney, GE and DreamWorks to teach employees Adobe Photoshop, After Effects, InDesign, Illustrator and Premier Pro, a Pluralsight news release said.
As You Wish opening new outlet at Station Park in Farmington
As You Wish, a chain of craft stores focusing on paint-your-own pottery, is opening its newest outlet Saturday at Station Park shopping center in Farmington.
The shop is in Building H near the Cinemark Theaters.
A grand-opening ceremony from 10 a.m. to 10 p.m. will introduce Wasatch Front residents to the Phoenix-based chain, which also has a store at Deer Valley.
At As You Wish, the cost is $8 for adults and $6 for children 12 and under 12 to use the site's tools to create pieces of pottery, which will be available a few days later for a "separate charge based on the product itself," said company spokeswoman Deb Smith.
Store hours will be 10 a.m. to 9 p.m. Monday through Thursday, 10 a.m. to 10 p.m. Friday and Saturday and 11 a.m. to 6 p.m. on Sunday.
Bank of Utah broke ground on new branch in Roy
Bank of Utah broke ground last week on its first new branch in nine years, a new building next to an existing one at 5741 S. 1900 West in Roy. The branch being replaced opened in September 1953 and will remain open during construction.
The 3,702-square-foot branch is the bank's 18th in Utah. Menah Strong, Bank of Utah's chief administrative officer, said Bott Pantone Architects and Stacey Enterprises, Inc. are project partners.
Officials to speed up permitting process for drilling on federal land
U.S. officials said they will speed up the permitting process for oil and gas drilling on federal lands to reduce delays, with applications projected to be down 40 percent in coming years versus their historical average.
BLM Director Neil Kornze said all drilling applications would have to be filed online under the new proposal.
The energy sector has regularly criticized the Obama administration's handling of drilling applications. Industry groups say lengthy delays have driven up costs.
Online-only permitting would allow 90 percent of drilling applications to be completed within 115 days, BLM spokeswoman Bev Winston said. The average time in 2015 was 220 days.