Edwards Lifesciences to bring over 500 jobs to Utah

Kaitlyn ClarkeNews, Tax Credits

Today, the Utah Governor’s Office of Economic Opportunity awarded Edwards Lifesciences a post-performance tax reduction for its expansion in Salt Lake County. The corporate incentive is part of the state’s Economic Development Tax Increment Financing (EDTIF) program.

As part of the agreement, Edwards Lifesciences projects to add 560 new, high-paying jobs and invest $34.8 million in Utah during the next 15 years.

“We’re thrilled to announce that Edwards Lifesciences, a leader in medical technologies, has selected Utah to expand its operations,” said Gov. Cox of Utah. “Utah is home to a robust healthcare sector with renowned hospitals and research institutions, a highly skilled and educated workforce, and a supportive business environment. Edwards Lifesciences is a natural fit in Utah, and we look forward to seeing the medical advancements made possible through this expansion.”

Ryan Starks, executive director of the Utah Governor’s Office of Economic Opportunity, added, “Utah’s life science sector is thriving, boasting the nation’s leading job growth in the industry. The expansion of Edwards Lifesciences within the state will further enhance this trajectory, and we extend our best wishes to its success.”

Edwards Lifesciences is the global leader in patient-focused medical innovations for structural heart disease and critical care monitoring. Driven by a passion for helping patients, the company partners with the world’s leading clinicians and researchers and invests in research and development to transform care for those impacted by structural heart disease or who require hemodynamic monitoring during surgery or in intensive care. 

“Edwards has operated in Draper since 2010 and currently employs more than 1,500 people in the area,” said Joe Nuzzolese, Edwards corporate vice president for global supply chain and quality. “Utah’s dynamic and supportive business environment has fueled the facility‘s growth into a critical piece of our global supply chain network and makes it a natural choice for the expansion of our advanced components manufacturing network to enable Edwards to serve more patients around the globe.”

Scott Cuthbertson, president and CEO of EDCUtah, added, “Thanks to companies like Edwards Lifesciences, Utah’s workforce is primed with science and engineering expertise that drives innovation. For many years, Edwards Lifesciences has played a pivotal role in advancing Utah’s life science industry, and we welcome its continued growth in our state.”

“Draper City is excited for the expansion of the Edwards Lifesciences campus in our community,” said David Dobbins, city manager at Draper City. “It has been a pillar of medical innovation while providing high-paying jobs for our residents. This expansion will allow the company to grow in a way that will benefit the lives of many people.”

Tax Credit Projections

Timeline:15 years
Jobs:560
Wages:$575,228,290
New state tax revenue:$32,377,241
EDTIF new state tax credit:25%

Learn more about the state’s post-performance EDTIF program here.