Today, the Utah Governor’s Office of Economic Opportunity awarded Ya YA Foods a post-performance tax reduction for its expansion in Weber County. The corporate incentive is part of the state’s Economic Development Tax Increment Financing program.
As part of the agreement, Ya YA Foods projects to add 302 new, high-paying jobs and invest $92,000,000 in Utah during the next 10 years.
“We are thrilled to see Ya YA Foods expanding in Utah.,” said Ryan Starks, executive director of the Governor’s Office of Economic Opportunity. “Supporting this expansion aligns with our economic vision of fostering growth and job opportunities. The many jobs that result from this expansion will enhance our economic landscape and continue to build Utah as an ideal home for the food and beverage industry.”
Founded in 2008 and headquartered in Toronto, Canada, Ya YA Foods is a leading manufacturer specializing in end-to-end packaging solutions for multinational beverage and liquid food companies across North America. As a key player in the food and beverage industry, Ya YA Foods is renowned for its expertise in producing a broad range of aseptic products, including plant-based milk for companies such as Oatly, high-protein beverages, juices, broths, sports drinks, dairy-based drinks, and more. With cutting-edge aseptic and hot-fill processing capabilities for carton and PET bottle packaging solutions, Ya YA Foods offers top-tier food safety standards and production excellence. The company, part of the Entrepreneurial Equity Partners portfolio, aims to become the leading aseptic beverage co-manufacturer, leveraging its unique capabilities and commitment to meeting the highest quality standards. Its facility is located in Ontario, Canada, with a facility based in Ogden, Utah, to service North America.
“This is Ya YA Foods first expansion in the U.S. This investment will expand our capacity, add a significant number of new jobs, and contribute to the economic growth in Weber County,” said Yahya Abbas, CEO of Ya YA Foods. “It is important for us to invest and grow in a location where there is both a good business climate and an available and skilled workforce. We have found Utah to be such a place. We want to thank the state of Utah for supporting our exciting project.”
“Ya YA Foods will benefit from northern Utah’s prosperous workforce,” said Chris Roybal, president of the Northern Utah Economic Alliance (NUEA). “The company’s commitment to health and wellness aligns with the work-life balance that sets our region apart.”
“Ya YA Foods’ expansion in Utah resulted from incredible collaboration among Team Utah partners,” said Scott Cuthbertson, president and CEO of EDCUtah. “Oatly made its first decision to locate in Utah in 2019, and Ya YA Foods is well-positioned to build on that success — demonstrating the ongoing impact of economic development on Utah’s prosperity.”
Tax Credit Projections
|New state tax revenue:||$9,003,606|
|New state tax credit:||20%|