The Utah Governor’s Office of Economic Development (GOED) is pleased to announce that Procter & Gamble (P&G) will expand its operations in Box Elder County, creating up to 221 jobs in the next 20 years.
“This expansion will create hundreds of new high-paying manufacturing jobs in Box Elder County,” said Val Hale, GOED’s executive director. “This is a big win for Utah as we continue to help build our rural counties and create more jobs in these areas.”
Procter & Gamble is a multinational consumer goods corporation headquartered in Cincinnati, Ohio. P&G currently sells products in 180 countries with brands like Always, Bounty, Charmin, Crest, Dawn, Downy, Gillette, Head & Shoulders, Olay, Oral-B, Pampers, Pantene, Tide, and Vicks. P&G has operations in approximately 70 countries worldwide and currently operates a manufacturing facility in Box Elder County that opened in 2011.
“We continue to greatly value our partnership with GOED and Box Elder County,” said Joe Tomon, plant manager of the P&G’s Box Elder facility. “Our expansion is a result of consumer and customer demand, and we couldn’t be more pleased to meet that demand with the excellent workforce of Box Elder County.”
Procter & Gamble may earn up to 30% of the new state taxes it will pay over the 20-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. The GOED Board has approved a post-performance tax credit not to exceed $4,191,954. Each year that Procter & Gamble meets the criteria in its contract with the state, it will earn a portion of the total tax credit.
“Procter & Gamble has been a steady growth agent in Utah. The company started production here in 2011 and invested again in spring 2018, and continues today to expand its state-of-the-art facility,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “With wages above the county average, these are high-quality manufacturing jobs for Box Elder County.”
State of Utah Tax Credit Projections by the Numbers
|Capital Investment||$310 million|
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 Development to outline specific performance criteria. Once GOED 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 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.