Quantcast
Get breaking news alerts via email

Click here to manage your alerts
(Trent Nelson | The Salt Lake Tribune) FLSmidth, a provider of specialty mining equipment, was offered more than $2.9 million to expand its Utah operations. The company, which employs about 620 people in Midvale, plans to hire as many as 125 people over the next 10 years. Above, executive Peter Flanagan overlooks operations at the company's Technical Center.
Utah OKs incentives aimed at creating more than 1,100 jobs
Inducements » $36 million in tax credits offered to four companies.
First Published May 10 2012 10:58 am • Last Updated May 10 2012 06:46 pm

Utah offered $36 million in incentives Thursday to four companies that are expected to create more than 1,133 jobs over the next 20 years.

Most of the incentive money, nearly $32.3 million, was promised to Orem-based software maker Xactware Solutions Inc., which employs 428 people in Utah and plans to hire 860 more over the next two decades.

Join the Discussion
Post a Comment

The company plans to invest $130 million in a new 250,000-square-foot campus in either Salt Lake or Utah counties, said President and CEO Jim Loveland. Xactware’s software is used by contractors, insurance companies and others to estimate building repair costs.

The incentive package, in the form of a tax credit payable over 20 years, is based on the company’s plans to create nearly 860 jobs over the next two decades.

Payment of the incentive, approved Thursday by the Governor’s Office of Economic Development board, is dependent on the company meeting certain hiring and payroll goals. For example, the company would have to pay an average salary of 25 percent more than the average wage in Salt Lake County, which would work out to $54,335, or if it elects to expand in Utah County, at least $43,310.

Utah also is offering FLSmidth, a provider of specialty mining equipment, more than $2.9 million to expand its Utah operations. The company, which employs about 620 people in Midvale, plans to hire as many as 125 people over the next 10 years, said Mark Fielder, vice president of global operations for FLSmidth.

The incentive will be payable over the 10-year period if the company meets its hiring goals and other criteria, GOED officials said.

The state also offered incentives of $518,000 to Peterbilt of Utah and $300,000 to Schiff Nutrition to expand their operations.

Peterbilt of Utah sells trucks and parts and also offers related services from its dealerships in Utah, Idaho, Colorado and Nevada. It plans to hire 50 full-time workers over the next five years as it doubles the size of its Utah facility.

Schiff Nutrition, a provider of supplements, plans to hire up to 100 more employees in Salt Lake City as it expands in coming years.


story continues below
story continues below

In all four instances, each company could have expanded in other areas around the country, said Christopher Conabee, managing director for corporate recruitment and business services for the Governor’s Office of Economic Development.

He said the incentives help to ensure the expansions occur in Utah and are structured in most cases so that companies get the money over a fairly long period of time, and only if they hire the promised number of workers at a wage above the county average.

lesley@sltrib.com Twitter: @cheapchick Facebook.com/OneCheapChick



Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.