Photo: Jon Beckstrand, CEO of MasterControl, addresses customers and employees at Masters Summit 2023. The annual event held in Salt Lake City brings over 1,000 people together to learn about MasterControl’s latest technology and what’s
next on the product roadmap.
Photo Credit: Austen Diamond Photography for the image.
Today, the Utah Governor’s Office of Economic Opportunity awarded MasterControl Solutions, Inc. 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 program.
As part of the agreement, MasterControl projects to add approximately 155 new, high-paying jobs in Utah during the next six years.
“We are pleased to see the expansion of a globally reputable company such as MasterControl as it reflects Utah’s thriving spirit of progress,” said Ryan Starks, executive director of the Governor’s Office of Economic Opportunity. “MasterControl’s expansion speaks to Utah’s reputation as a hub for tech innovation and underscores the company’s commitment to economic growth within our state. We congratulate them on this strategic decision.”
MasterControl is a leading provider of quality and manufacturing software for pharmaceutical, medical device, and other regulated industries. For thirty years, its mission has been the same as that of its customers — to bring life-changing products to more people sooner. MasterControl’s innovative Advanced Data and Process Technology (ADAPT) Platform helps companies digitalize, automate, and connect complex processes to accelerate operations, reduce costs, and ensure compliance. That’s why over 1,100 companies worldwide use MasterControl’s software, analytics, and artificial intelligence solutions every day to manufacture the highest quality products — faster. MasterControl is headquartered in Cottonwood Heights, Utah, and has global offices in the United Kingdom, Japan, Australia, and Singapore.
“MasterControl started in Utah more than 30 years ago, and we are delighted to be expanding once again as we develop quality and manufacturing software that will help our customers bring life-changing products to market,” said Jon Beckstrand, CEO of MasterControl. “Utah offers a healthy business environment, a highly educated workforce, and lifestyle amenities that are all important aspects for MasterControl’s continued success.”
“In addition to being a Silicon Slopes company itself, MasterControl is a key contributor to several of Utah’s targeted industry sectors, including software and IT, life sciences, and aerospace and defense,” said Scott Cuthbertson, president and CEO of EDCUtah. “We’re pleased to see one of Utah’s anchor companies continue to grow right here in Utah.”
Tax Credit Projections
| Timeline: | 6 years |
| Jobs: | 155 |
| Wages: | $61,099,500 |
| New state tax revenue: | $2,268,064 |
| New state tax credit: | 20% |