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Utah offers bike firm incentive to move to state

Utah has offered a wholesaler of bicycle parts an incentive worth as much as $2.2 million to expand along the Wasatch Front.

The incentive, approved Thursday by the board of the Governor’s Office of Economic Development, would be payable to Bloomington, Minn.-based QBP in the form of tax credits taken by the company over 10 years. The full amount of the incentive is payable only if the company meets certain requirements over that time period, such as hiring at least 70 people in Utah.

A decision about whether to expand in Utah or another state would be made by next week, said Jo Wright, a company spokeswoman. QBP stands for Quality Bicycle Products.

By Lesley Mitchell
The Salt Lake Tribune

Full Story: http://www.sltrib.com/business/ci_10442519

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