Mueller Industries and the Governor’s Office of Economic Development (GOED) today announced the manufacturer will expand to Utah, adding up to 125 jobs to the community.
“I commend Mueller industries for its resourcefulness and investment in Iron County,” said Val Hale, executive director of GOED. “The company’s state-of-the-art facility and access to a skilled workforce from surrounding communities provide a strong foundation as it expands in Utah.”
Mueller Industries, founded in 1917, is a leading manufacturer in the copper and brass industries. Headquartered in Tennessee, company operations are located throughout the world. The Iron County operation would be dedicated primarily to copper tube products.
The Mueller Industries project will create up to 125 jobs over the next eight years. The total wages in aggregate are required to exceed 110 percent of the county average wage. The projected new state wages over the life of the agreement are expected to be approximately $31,291,115. Projected new state tax revenues, as a result of corporate, payroll and sales taxes, are estimated to be $2,475,952 over eight years.
“We are pleased with Mueller Industries’ decision to build operations in Cedar City,” said Michael Flynn, chief marketing officer and acting chief of staff at the Economic Development Corporation of Utah. “Mueller Industries is a well-regarded company with a history of success. This is a great example of state and local teamwork to recruit new jobs to Utah.”
Mueller Industries may earn up to 20 percent of the new state taxes they will pay over the eight-year life of the agreement in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) tax credit rebate. As part of the contract with Mueller Industries, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $495,190. Each year as Mueller Industries meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.
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