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State officials have offered financial incentives worth almost $15 million to two companies — EMC Corp. and Procter & Gamble — to expand their operations in Utah, looking to create 900 new jobs and attract a private-sector investment of $500 million.

The Governor's Office of Economic Development (GOED) board authorized the tax rebates, which will be payable to the companies after they meet annual job-creation criteria laid out in incentives contracts approved Thursday.

EMC is a technology company that has one of eight global "Centers of Excellence" in Draper. Over the next 10 years, EMC plans to add 700 jobs as it invests $62 million in the expansion of information-technology systems that are based on cloud computing and big-data analytics.

Total wages, including benefits, from this growth are predicted to be 125 percent of the county's average compensation level, adding up to $207.5 million over a decade. The 10-year agreement, in which the state is offering a maximum tax credit of almost $3.9 million, anticipated a $9.1 million return in payroll and sales taxes.

"Utah's booming IT sector has gained national attention and continues to be an integral part of our economy," Gov. Gary Herbert said in a statement. "EMC has been a major partner in building Utah's 'Silicon Slopes' and we are grateful for [its] positive impact."

Added Jeff Edwards, president and CEO of the business-promotion group Economic Development Corp. of Utah: "EMC could have chosen to go anywhere in the world but picked Utah. Their commitment to creating strong career opportunities in Utah has helped the state become one of the leading markets for tech-talent growth."

Vance Checketts, general manager of EMC's Utah operations, said the decision to expand in Utah reflects "the strong partnership we have formed with both community and government leaders."

Procter & Gamble, which has operations in 70 countries, said it is planning a $400 million to $500 million expansion of its existing operation in the Box Elder County community of Bear River City.

"This facility is an important part of P&G's U.S. manufacturing footprint," said Yannis Skoufalos, P&G's global product supply officer. "Its expansion is a strategic part of P&G's North American supply network redesign."

The 200 additional jobs expected from the expansion are projected to generate $198 million in new wages and $37.2 million in extra state and local taxes. In return, GOED offered a tax credit of up to $11.1 million, 30 percent of the new taxes P&G will pay over the agreement's 20-year life.

"Procter & Gamble has invested greatly in Utah because we strive to maintain an innovative and business-friendly environment," Herbert said. "We hope more and more businesses will take notice."