The Utah Governor’s Office of Economic Opportunity (Go Utah) is pleased to announce that Leitner-Poma of America (LPOA) and its affiliates plan to expand operations in Utah, bringing up to 118 high-paying jobs to the state in the next 10 years. LPOA and affiliates plan to develop a campus that will house several of its brands to provide Utah clients with manufacturing, service, parts, and sales/administration functions in their own backyard.
“We’re excited Leitner-Poma has decided to come grow with us in Utah,” said Dan Hemmert, the Office of Economic Opportunity’s executive director. “Utah’s 15 world-class ski resorts make it an ideal location for Leitner-Poma’s corporate expansion.”
LPOA and affiliates offer a complete line of cable transport systems, including surface lifts, chairlifts, gondolas, MiniMetro urban transport, trams, inclined elevators, and industrial trams. LPOA has installed aerial and surface systems worldwide and has established its position as a market leader.
The company’s worldwide network, which is part of High Technology Industries (HTI) Group, has installed more than 10,000 transportation systems in 61 countries. HTI is an umbrella organization that unites the additional brands of LEITNER ropeways and POMA (rope-hauled transportation systems), PRINOTH (snow groomers and tracked utility vehicles), DEMACLENKO (snowmaking systems), LEITWIND (wind turbines), AGUDIO (Material ropeways) and SKYTRAC (aerial ropeway manufacturing). Collectively, HTI safely transports eight million passengers on its cable transport systems every hour. The new Utah campus would house several HTI brands, providing Utah customers with a wide range of services.
“Utah has a fantastic pro-business environment, and the ropeway market in Utah is growing exponentially,” said Daren Cole, president of LPOA. “We’re excited to expand our operations to have a more permanent home in the state. We thank the Go Utah team for helping us bring more jobs to the region. We have a long-term commitment to the economic vitality of Utah and its outdoor industry.”
LPOA may receive up to 15% of the additional state taxes it will pay over the 10-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. The Go Utah Board has approved a post-performance tax credit not to exceed $2,039,267. Each year that LPOA meets the criteria in its contract with the state, it will qualify for a portion of the total tax credit.
“We’re excited that a global company like Leitner-Poma is bringing the manufacturing and distribution of chairlifts and other transportation systems to the home of The Greatest Snow on Earth™,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “Like other companies in our Outdoor Products industry, they will find our state to have committed and talented workers.”
State of Utah Tax Credit Projections by the Numbers
|Capital investment||$30 million|
|Projected new state tax revenue||$13,595,114|
|EDTIF new state taxes||15%|
About Utah Corporate Incentives
The Utah Legislature has authorized economic development incentives in the form of post-performance tax credits. Eligible companies work with the Utah Governor’s Office of Economic Opportunity to outline specific performance criteria. Once the office confirms those criteria have been met, according to statute (U.C.A. 63N-2-106(2)), companies can receive a refund of up to 30% of the new state taxes they paid for up to 20 years. The contract with the state is post-performance; it only provides a state tax credit if the company meets its obligations.