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Specialty Retailer Elevates Outdoor Products in UtahJanuary 09 2014 - 1:06 pm
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For Immediate Release
January 9, 2014
Wes Remmer, Cabela’s
Michael Sullivan, GOED Communications Director
Specialty Retailer Elevates Outdoor Products in Utah
Cabela’s distribution center will create approximately 250 new jobs
Salt Lake City, UTAH — Cabela’s, along with the Governor’s Office of Economic Development, announced today plans to operate a highly sophisticated distribution center in Tooele County to process freight and deliver products to consumers.
“We are happy to see such a major player in the outdoor industry continue to grow its presence in Utah,” said Governor Gary R. Herbert. “The creation of Cabela’s Utah distribution center will strengthen our valued outdoor industry and create family sustaining jobs in rural areas.”
Cabela’s is a leading specialty retailer and the world’s largest direct marketer of hunting, fishing, camping and related outdoor merchandise. Since its founding in 1961, Cabela’s has grown to become one of the most well-known outdoor recreation brands in the world.
The company offers a wide selection of high-quality, competitively priced outdoor products through its established direct business and growing number of destination retail stores. Currently, Cabela’s operates 50 stores across North America, including a 150,000-foot-store in Lehi.
Cabela’s is entering into an agreement with the state to create approximately 250 jobs, 85 of which will be contracted with the state to pay at least 100 percent of Tooele County’s average annual wage including benefits. The company expects the jobs to create more than $30 million in new state wages over the life of the agreement. GOED estimates that the company will also pay approximately $3.4 million in new state taxes over the 10-year period.
“As Cabela’s continues to grow, so, too, does the need to expand the footprint of our distribution centers,” said Tommy Millner, Cabela’s Chief Executive Officer. “It’s exciting to accomplish that while also bringing new jobs to Utah, where we have thousands of loyal customers and people live the Cabela’s lifestyle.”
“Cabela’s decision to locate its state-of-the-art distribution facility in Tooele shows the hard work of our economic development partners in Tooele County,” said Jeff Edwards, president and CEO of Economic Development Corporation of Utah (EDCUtah). “Cabela’s presence in Tooele County will serve as a catalyst for quality job growth and increased capital investment in Utah.”
As part of a contract with Cabela’s, the GOED Board of Directors has approved a maximum cap tax credit of $693,198 in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) incentive, which is 20 percent of the net taxes Cabela’s will pay over the 10-year life of the agreement. Each year as Cabela’s meets the criteria in its contract with the state, it will earn a portion of the tax credit incentive.
To find out about job opportunities with the company, visit http://www.cabelas.jobs/.
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
Cabela’s Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world’s largest direct marketer, of hunting, fishing, camping and related outdoor merchandise. Since the Company’s founding in 1961, Cabela’s® has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World’s Foremost Outfitter®. Through Cabela’s growing number of retail stores and its well-established direct business, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela’s also issues the Cabela’s CLUB® Visa credit card, which serves as its primary customer loyalty rewards program. Cabela’s stock is traded on the New York Stock Exchange under the symbol “CAB”.