The Economic Development Tax Incentive is a tax rebate of new state revenues consisting of sales, corporate, and withholding taxes paid to the State. It is available to companies seeking relocation and expansion of operations to the State of Utah.
Policy
- Only to be used towards projects in specific Targeted Industries in Urban areas and projects of companies with wages above the county median and benefits for Rural areas
- Maximum rebate of up to 30% over the life of the project on a post performance basis*
- No more than 50% rebate in any one year
- Typical length of incentive is for 10 years*
- New jobs created must pay at least 125% above the county median wages within Urban communities and be within a specific target industry*
- For rural communities, at least 100% of county median must be paid *
- No retail distribution projects
- Economic Development Zone must be established
*The GOED Board will determine the lenth and % requirements for each individual project.
Application Deadlines
How to apply
Legislation