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JSI Store Fixtures to Expand into UtahDecember 11 2014 - 1:49 pm
For Immediate Release
December 11, 2014
Michael Sullivan, GOED Communications Director
Ken Bush, Executive VP & COO
JSI Store Fixtures
JSI Store Fixtures to Expand into Utah
Supermarket display company to manufacture equipment for the western states
Salt Lake City, UTAH — JSI Store Fixtures, Inc. a market-leading designer and manufacturer of high-quality merchandising displays for the supermarket industry, along with the Utah Governor’s Office of Economic Development (GOED), announced plans today to open a facility in Utah County and create 87 jobs over the next five years.
“I’m confident JSI Store Fixtures, will find a talented and productive workforce in Utah,” said Val Hale, executive director of the Governor’s Office of Economic Development. “Dedicated to a responsible of use of natural resourses the company fits very nicely into our states commitment to an elevated quality of life. Now, it will be better able to grow not just regionally but nationally as it services its western clients from Utah.”
“The new Payson, UT facility gets us closer to our target customers in the western US, helping us to reduce freight costs, provide much shorter lead-times and lessening our environmental impact,” said Terry Awalt, president of JSI Store Fixtures.
The company whose headquarters is in Milo, Maine has a product offering which consists of display fixtures, patented foam products and refrigerated displays focused on the store perimeter. JSI’s products are designed to showcase “fresh” merchandise in the produce, bakery, floral, wine and other high-traffic sections of the store perimeter. JSI’s fixtures are predominantly constructed from wood (approximately 80%), but JSI’s advanced manufacturing capabilities also allow it to manufacture products made from metal, laminates, plexi-glass and vacuumformed plastic.
JSI was conceived in 1991 as a family business with one philosophy in mind; to design and offer its customer’s quality displays that merchandise product better, resulting in higher retail sales. JSI has indicated that they will be creating 87 new jobs over the next five years. The total wages, including medical benefits, in aggregate are expected to exceed 125 percent of the county average wage. The projected new state wages over the life of the agreement are expected to be approximately $15.9 million. Projected new state tax revenues, as a result of corporate, payroll and sales taxes, are estimated to be $3.7 over five years. The company expects to invest more than $1 million in the manufacturing facility.
“We are thrilled to welcome JSI Store Fixtures to the state,” said Jeff Edwards, president and CEO, Economic Development Corporation of Utah (EDCUtah.) “I am extremely excited that yet another world class company has chosen to bring their operations to the state.”
As part of a contract with JSI Store Fixtures, the GOED Board of Directors has approved up to a maximum tax credit of $558,501 in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) incentive, which is 15 percent of the new state taxes JSI will pay over the five-year life of the agreement. Each year as JSI meets the criteria in its contract with the state, it will earn a portion of the total tax credit incentive.
Those interested in seeking employment with JSI should visit jsistorefixtures.com.
About the Utah Governor’s Office of Economic Development (GOED)
The Governor’s Office of Economic Development (GOED) charter is based on Governor Gary Herbert’s commitment to economic development statewide. Utah’s economic development vision is that Utah will lead the nation as the best performing economy and be recognized as a premier global business destination. The mandate for this office is to provide rich business resources for the creation, growth and recruitment of companies to Utah and to increase tourism and film production in the state. GOED accomplishes this mission through the administration of programs that are based around targeted industries or “economic clusters” that demonstrate the best potential for development. GOED utilizes state resources and private sector contracts to fulfill its mission. For more information please contact: Michael Sullivan, 801-538-8811 or email@example.com
About JSI Store Fixtures
JSI Store Fixtures began in 1991 as a family business with one philosophy in mind; to design and offer its customer’s quality displays that merchandise product better, resulting in higher retail sales. The company whose headquarters is in Milo, Maine has a product offering which consists of display fixtures, patented foam products and refrigerated displays focused on the store perimeter. For more information, visit jsistorefixtures.com.