State incentives are OK’d for 3 companies moving to Utah

The Governor’s Office of Economic Development board on Friday approved a tax rebate for an unidentified medical products company planning to expand its Utah operations.

The board approved a rebate of up to $1.5 million, equating to $2,000 per job for 750 new jobs paying 160 percent of the county median for the expansion’s third phase, which could occur five to seven years from now.

Board member Mark Howell said the first two phases, encompassing 270 new jobs, will have locally produced incentives.

The company’s planned capital investment in the three phases is estimated at $270 million, he said.

"This is a big, big expansion in the state. . . . We’re talking over a thousand jobs here, so this is a big deal. They’re all good jobs," Howell said.

By Brice Wallace
Deseret Morning News

Full Story: http://deseretnews.com/dn/view/0,1249,605155183,00.html