In Utah, businesses benefit from the state’s friendly regulatory environment, and workers enjoy a unique quality of life. Here, you’ll experience both life and business elevated.
About Corporate Incentives
Industry professionals would likely characterize Utah’s approach to corporate recruitment as conservative. Unlike other states where large cash incentives are offered to bring out-of-state companies within their borders, Utah’s corporate recruitment incentive program is a post-performance state tax credit.
Although the tax credit is used to bring new businesses and high-paying jobs (at least 110% of the average county wage) to the state, since its 2005 inception, two-thirds of EDTIF recipients are Utah-based companies. The state’s incentive program is versatile, used to support local entrepreneurs and businesses with terms ranging up to 30% of state taxes paid for up to 20 years.
The state’s latest tax credit participants are featured in Go Utah’s newsroom. A complete list of EDTIF recipients is published here, with data that are searchable and sortable by every column. Utah-based EDTIF recipients are highlighted in the incented companies table.
Utah’s post-performance tax rebate model supports companies that are willing to invest, create high-paying jobs, and act as stewards of Utah’s vibrant economy.
Check out the annual Economic Report to the Governor on the Kem C. Gardner Policy Institute’s website.
How big is your pool of potential workers and consumers? Population counts (as estimated by the Utah Population Estimates Committee) by county and statewide, including component information such as births, deaths and net migration.
County and Statewide Information — What’s the nature of the local economy? Economic and demographic information for Utah counties, including data on employment, population, job growth and industry mix.
How competitive is the local job market? Labor force data, including employment and unemployment rates by county and statewide.
How diversified is the local economy? Data on jobs and wages, categorized by industry (using the NAICS taxonomy) may be sorted statewide or by specific counties. Data is available by year and quarter (back to 2001).
What will be your estimated labor costs? Wage information by occupation for Utah jobs at the statewide and selected sub-state areas.
Locate.utah.gov can help businesses in their due diligence to find a property or building for their expansion or relocation to Utah. Enter an address or click on any location, and then hit the “Get Summary” button to find out everything you want to know about your next site.