Saving money on transportation while keeping air clean is a one-two punch in the fight towards achieving the goals in Governor Gary R. Herbert’s Utah Clean Air Partnership. The Governor’s Office of Economic Development (GOED) announced today that Blu. (Transfuels, LLC), the Utah-based natural gas company, will expand its full production line of natural gas filling stations that supply vehicles with clean burning natural gas.
“Expanding production of fuel that is clean and inexpensive is an important step in the right direction for Utah,” Governor Gary R. Herbert said. “The expansion by Blu. is a key step in growing our state’s practical application of green energy convenience and supply chain, allowing fleets and individuals to justify use of clean natural gas vehicles.”
Blu. will create 73 new high paying jobs including engineers, environmental control staff, safety techs, contracting agents and other leadership positions. Over the seven year life of the agreement with the state, the company will pay out more than $49 million in new state wages. All of the incented jobs will pay at least 125 percent of the county’s average annual wage including benefits.
During the same time period, Blu. will pay approximately $2.3 million in new state taxes and will invest over $6 million in capital expansion at the Salt Lake City headquarters.
“The state of Utah is a leader in clean natural gas as a vehicle fuel,” said Blu. CEO Merritt Norton. “We are excited at the opportunity the business environment in Utah gives us to expand our efforts and provide our nation a cleaner and more cost-effective fueling solution.”
Blu. is dedicated to providing liquefied natural gas stations and solutions for the U.S. heavy-duty trucking industry. Natural gas is a domestically produced, clean, low-cost and safe alternative to diesel and gasoline and can reduce a vehicle’s carbon footprint by more than 25 percent. As the market for environmentally safe energy continues to grow, Blu. meets that demand. In the process, Blu. creates more jobs, which helps to further strengthen Utah’s economy.
The GOED Board of Directors has approved a $462,536 Economic Development Tax Increment Finance (EDTIF) post-performance refundable tax credit, which the company can earn, or 20 percent of the next taxes paid by the company over the lifetime of the incentive.