Together with the Utah Governor’s Office of Economic Development (GOED), Traeger Pellet Grills announced it will expand its Utah operation to meet increased demand.
“Traeger Pellet Grills is a growing company, and we are glad it has selected Utah to help it continue on its positive growth trajectory,” said Q. Val Hale, executive director of GOED. “Utah has a strong outdoor lifestyle industry that is only made stronger by the expansion of companies like Traeger.”
“Building on our brand roots and strong operations in Oregon, we are excited to expand our presence here in Utah. We would like to thank GOED for their hardwork and support, and we look forward to adding to the State’s growth,” said Jeremy Andrus, CEO of Traeger Pellet Grills.
Traeger Pellet Grills was founded in 1985 in Oregon. Traeger designs, markets and distributes wood pellet grills across the U.S. and Canada. The company sells its products through a dealer network, online and through a direct sales force at select retailers, trade shows, fairs, rodeos and other outdoor events.
Known for its ease of use, versatility and great tasting wood-fired cooking, Traeger is America’s leading alternative outdoor grill. Traeger Pellet Grills also owns mills that manufacture natural wood pellets to fuel the grills.
“EDCUtah is pleased to see Traeger Grills expansion in Utah. Traeger could have grown anywhere; it’s exciting to see that they have chosen Utah for their expansion because of the success they have already experienced in the state,” says Jeff Edwards, president and CEO of Economic Development Corporation of Utah.
Traeger Pellet Grills has indicated that they will be creating 164 new jobs over the next seven years. The total wages, including medical benefits, in aggregate are expected to exceed 125 percent of the county average wage. The projected new state wages over the life of the agreement are expected to be approximately $44,613,465. Projected new state tax revenues, as a result of corporate, payroll and sales taxes, are estimated to be $2,517,687 over seven years.
As part of a contract with Traeger Pellet Grills, the GOED Board of Directors has approved up to a maximum tax credit of $503,537 in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) incentive, which is 20 percent of the new state taxes Traeger Pellet Grills will pay over the seven-year life of the agreement. Each year as Traeger Pellet Grills meets the criteria in its contract with the state, it will earn a portion of the total tax credit incentive.