Today, the Utah Governor’s Office of Economic Opportunity awarded EZARC Inc. a post-performance tax reduction for its expansion in Utah County. The corporate incentive is part of the state’s Economic Development Tax Increment Financing (EDTIF) program.
As part of the agreement, EZARC projects to add 75 new, high-paying jobs and invest $4,500,000 in Utah during the next five years.
“We congratulate EZARC on its decision to expand its fabrication and manufacturing capabilities in Utah,” said Ryan Starks, executive director of the Governor’s Office of Economic Opportunity. “With the strong presence of the semiconductor and advanced manufacturing industries in the Western U.S., EZARC is uniquely positioned geographically to address the market needs in Utah and beyond.”
EZARC is trusted by the world’s most innovative companies to develop end-to-end solutions for construction problems ranging from simple to complex. The company is dedicated to building solutions with clients from preconstruction engineering and design through estimating and construction to operational start-up and maintenance. EZARC is a building solutions partner for structural steel, miscellaneous metals, custom metal fabrications, rigging, and tool and equipment installations, including new build, renovation, and clean environments. For over 31 years, EZARC has found ways to change how things have been done and provide new and revolutionary approaches.
“We could not be more pleased to call Utah our home and have the support of the Utah Governor’s Office of Economic Opportunity, EDCUtah, and our local communities, with our unprecedented growth and expansion,” said Steve Bowers, president and COO at EZARC Inc. “EZARC is becoming a world leader within the semiconductor, data center, and advanced manufacturing industries, by providing innovative solutions that are changing the ways our client can meet the demands of an ever-changing world.”
“We’re pleased to see another local company choose to reinvest in Utah,” said Scott Cuthbertson, president and CEO of EDCUtah. “Semiconductor manufacturing is a priority industry for Utah and the United States, and we look forward to growing our state’s capacity for this critical supply chain.”
Tax Credit Projections
|New state tax revenue:||$4,179,171|
|EDTIF new state tax credit:||15%|