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Theresa Foxley
Deputy Director
801-538-8850

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Julia Barnhouse
Incentives Coordinator
801-538-8828

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EDTIF Tax Credit

The EDTIF tax credit is a post-performance, refundable tax credit rebates for up to 30% of new state revenues (sales, corporate and withholding taxes paid to the state) over the life of the project (typically 5-10 years). It is available to companies seeking relocation and expansion of operations to the State of Utah.

Policy:

  • Maximum credit of up to 30% over the life of the project
  • No more than 50% credit in any one year
  • The life of the incentive is typically 5 – 10 years
  • New jobs created must pay at least 110% of the county average wages within both rural and urban communities and be within a specific target industry
  • No retail business operations
  • New project must be in competition with other locations
  • GOED does not review projects in business less than 3 years and that cannot show consistent profitability.

Requirements:

  • Obtain commitment from local government to provide local incentives and establish an Economic Development Zone
  • Enter into an incentive agreement with the Governor’s Office of Economic Development which specifies performance milestones.
  • Create new high-paying jobs in the state
  • At least 50 jobs in urban counties
  • At least 110% of urban county average wage or 110% of rural county wage
  • Generate new tax revenues.
  • Significant capital investment
  • Significant purchases from Utah vendors or suppliers

Downloads:

County Average Wages CY2016

Senate Bill 179

Senate Bill 0185 
HB0356
SB0233