The internet-based retailer Amazon is coming to the Beehive State.
The Governor’s Office of Economic Development (GOED) Board approved the expansion during a public meeting at the Utah State Capitol.
They say the project will create several hundred jobs over the next eight year, 130 of those will qualify for an incentive agreement.
The projected new state wages are expected to be about $85,500,000 over the life of the agreement, the GOED says. New state tax revenues are estimated be about $28,400,000 over the eight years.
Governor Herbert says these projects will bring “high paying work, thousands of jobs, and more than $250M in capital investment.”
These projects will bring high paying work, thousands of jobs and more than $250M in capital investment. Great news for the state of Utah.— Gov. Gary Herbert (@GovHerbert) June 8, 2017
“As part of the contract with Amazon, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $5,680,707. Each year as Amazon meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate,” a press release said.
Amazon is expected to announce details about the project in the coming weeks. Stick with Good4Utah for updates.