The company’s move from California to Utah is expected to introduce 116 new high-paying jobs.
Today, the Utah Governor’s Office of Economic Opportunity (GOEO) awarded Route 92 Medical, Inc. a post-performance tax reduction to support its expansion in West Jordan, Utah. The incentive is part of the state’s Economic Development Tax Increment Financing (EDTIF) program.
“Expanding our presence in West Jordan was a strategic decision driven by Utah’s exceptional talent pool and the state’s strong support for medical innovation,” said Tony Chou, M.D., Founder and CEO of Route 92 Medical. “We are grateful to the state of Utah for supporting our work to bring life-saving neurovascular intervention technologies to providers and patients.”
Route 92 Medical specializes in developing approaches and products that improve outcomes for patients undergoing neurovascular intervention to treat conditions such as acute ischemic stroke. The company’s innovative solutions streamline complex, time-sensitive procedures by enabling physicians to reach and remove stroke-causing blood clots more quickly, completely, and efficiently.
“Route 92 relocating its headquarters into West Jordan is a win for Utah’s economy and our thriving life sciences industry,” said Jefferson Moss, executive director of GOEO. “Route 92 Medical has a strong history of building life-saving medical technologies in Utah, and this new investment will create jobs, compound their impact within our state, and help ensure that Utah remains a global leader in cutting-edge healthcare technology.”
“We’re proud to welcome Route 92 Medical’s headquarters to Utah,” said Ryan Starks, executive director of EDCUtah. “Their decision to expand here underscores our state’s reputation as a premier destination for medical device manufacturing. This move will bring high-quality jobs to our residents and further strengthen Utah’s position as a leader in the life sciences sector. We’re excited to support their expansion and the impact they will have on our business community.”
As part of the agreement, Route 92 Medical plans to add 116 new, high-paying jobs to its West Jordan location and invest $5,067,000 in Salt Lake County over the next five years.
“We welcome the expansion of Route 92 Medical in West Jordan and look forward to the positive impact this new investment will have on our community,” said Paul Coates, economic development manager of West Jordan. “Beyond job growth in a key industry, this project will enhance our ability to invest in the high-quality services and infrastructure our residents deserve. We are proud that West Jordan will play a direct role in forwarding technology that will save lives across the globe.”
Tax Credit Projections
| Timeline: | 5 years |
| Jobs: | 116 |
| Wages: | $33,900,000 |
| New state tax revenue: | $1,363,612 |
| EDTIF new state tax credit: | 20% |
Learn more about the state’s post-performance EDTIF program here.
About the Utah Governor’s Office of Economic Opportunity
Under Gov. Spencer J. Cox’s direction, the Governor’s Office of Economic Opportunity provides resources and support for business creation, growth, and recruitment. It also drives increased tourism and film production in Utah. As stewards of the world’s best economy and quality of life, the Economic Opportunity office utilizes federal, state, and private sector resources to administer programs in areas demonstrating the highest potential for economic development and the most opportunity for Utahns.
About Route 92 Medical, Inc.
Route 92 Medical is on a mission to improve outcomes for patients undergoing neurovascular intervention through cutting-edge engineering and innovative product design. Founded by physicians, the company collaborates with leading neurovascular clinicians to solve the biggest challenges in neurointervention and deliver meaningful, differentiated solutions that promote clinical success. For more information, visit www.r92m.com or follow the company on LinkedIn.