Today, the Utah Governor’s Office of Economic Opportunity awarded EnergiSpot a post-performance tax reduction for its expansion in Spanish Fork City. The corporate incentive is part of the state’s Economic Development Tax Increment Financing (EDTIF) program.
As part of the agreement, EnergiSpot projects to add 90 new, high-paying jobs and invest $7,300,000 in Utah during the next 10 years.
“The future of electric vehicles is changing rapidly, and we’ll need the infrastructure to keep up with the growth,” said Ryan Starks, executive director of the Governor’s Office of Economic Opportunity. “We’re thrilled EnergiSpot chose to grow in Utah and look forward to the impact it’ll have on the sustainable energy industry of our state and the nation.”
Driven by a deep commitment to clean energy and sustainability, EnergiSpot is dedicated to advancing the research, development, manufacturing, and distribution of integrated electric vehicle supply equipment (EVSE) solutions to support mobility and electric vehicle (EV) adoption. Through a joint venture with eTreego, Taiwan’s leading EVSE manufacturer, EnergiSpot brings decades of expertise and know-how to establish a U.S.-based factory that will manufacture residential, commercial, and fleet EV charging solutions. EnergiSpot’s fit-for-purpose EVSE can be combined with solar and energy storage solutions to minimize grid impact and infrastructure requirements and optimize cost efficiency for end users. By providing turnkey, end-to-end service, EnergiSpot eliminates barriers to deployment and makes installation, operation, and maintenance seamless.
“With its reputation as the strongest economy in the U.S. and the crossroads of the West, Utah is an ideal place for EnergiSpot to put down the roots that will help us expand critical EV infrastructure across the country,” said Ron Heffernan, co-founder of EnergiSpot. “We are committed to positively impacting the local community and are grateful for the support from the state, which will help us accelerate our mission of electrifying the nation.”
“Utah’s advanced manufacturing industry is gaining global attention, thanks to the collaboration of many partners across the state,” said Scott Cuthbertson, president and CEO of EDCUtah. “We look forward to seeing the innovation that comes out of this foreign direct investment win.”
“Spanish Fork City is excited to welcome EnergiSpot to the Verk Industrial Project,” said Dave Anderson, community and economic development director at Spanish Fork. “We believe EnergiSpot will play an important role in our nation’s transition from fossil-fueled mobility to electrified transportation. They will join a number of other companies in Spanish Fork that utilize cutting-edge technology to improve our way of life.”
Tax Credit Projections
| Timeline: | 10 years |
| Jobs: | 90 |
| Wages: | $55,789,807 |
| New state tax revenue: | $4,765,621 |
| EDTIF new state tax credit: | 20% |
Learn more about the state’s post-performance EDTIF program here.