SALT LAKE CITY (News4Utah) – Whenever a deal to bring a major company to Utah occurs there are many groups hard at work behind the scenes making it happen and one of them is the Economic Development Corporation of Utah.
President and CEO of EDC Utah Theresa Foxley stops by Inside Utah Politics to discuss the deal to bring Facebook to Eagle Mountain and some of the other projects they are working on.
” A year ago we were with the governor on a business development visit to Northern California and we were able to arrange a meeting between the governor and some Facebook executives to say there could be a value added partnership between the state of Utah and Facebook. We encouraged them to take a look at Utah to see if there was an opportunity for them to invest in the state,” said Foxley.
Foxley says it’s a great opportunity for the state.
“All of this is net new investment into the state. So, while the incentives are a big part of this and public finance is a big part of any capital intensive project, I always like to look at the other side of the ledger and remind everyone that the land today is not producing very much tax revenue for the local entities,” said Foxley.
She also talks about some of the other big projects they are working on.