Utah Governors Office of Economic Development Board Offers #20MM Incentive to Goldman Sachs

Governor’s Office of Economic Development (GOED) Business Development Board approved an Economic Development Tax Increment Financing (EDTIF) incentive for Goldman Sachs.

The post performance incentive is based on a rebate of no more than 30 percent of new state tax revenue, up to a maximum of $20 Million over the next 20 years. The company plans to hire 375 new employees at 225 percent of the Salt Lake county median wage, which is $32,828. During the 20 year period the new employees would receive new state wages of $886 million. New state tax revenue is expected to exceed $81 million during the same period.

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