Note: This article is part of a series providing updates from companies that received an EDTIF tax credit. Our office has an ongoing partnership, through a post-performance incentive, with the company. The story is the company’s narrative and may not reflect the methodology of standardized legislative reporting requirements published in our Annual Report. We do not certify or independently verify any company’s data as part of this ‘Where are they now?’ series.
IE, Inc., a Price, Utah-based company started in 1985, excels by offering its clients unparalleled service and taking care of one customer at a time. Collectively, its team members have more than 300 years of experience in engineering and design, fabrication, process and instrumentation, electrical and controls, automation and programming, testing, and project management.
“Our goal is to create lasting relationships and be a true partner instead of just a vendor; that’s what makes us special,” says Phil Blackburn, the company’s CEO.
IE takes pride that its products are made in the USA. They have grown their business without institutional investors or external sources of capital/debt. Instead, it focuses on investments that improve the experience for its customers, employees, and partners.
The company started by doing component repair out of one small building. Over its 35 year history, it expanded from building housings for power stations for the oil and gas and mining industries to include mission-critical and healthcare solutions at four manufacturing facilities across the U.S.
IE employs more than 300 individuals and plans to add 289 new jobs in 15 years. The company experienced an 18% revenue growth over 2021 and has forecasted another 23% over 2022.
“Utah has had very friendly policies towards traditional energy, but a lot of our growth over the last decade has been in renewable and other sectors,” Blackburn noted. “We’re grateful to operate in a state that sees value in supporting both trends.”
In 2019 and 2020, the company experienced rapid expansion in the mission-critical and data center market and saw an opportunity to rethink and redesign its brand. Company officials felt the original name “Intermountain Electronics” no longer fit their business model and didn’t fully represent the products/services it provides.
“We decided to stay as close to the original branding as possible while still looking into the future,” noted Blackburn. “This was accomplished by removing “Intermountain Electronics” from the brand and changing it to “IE,” as well as removing the mountain swoosh and replacing it with a blue box.” He added that the blue box represents containers IE Corp fabricates but also shows that the company breaks the boundaries and thinks outside of the box.
In 2020 the company was awarded the Utah Business of the Year at Go Utah’s annual Economic and Energy Summit. “As we have considered where best to expand our business time and time again, we have returned to Utah. It’s the right place for us,” Blackburn said.
The current IE corporate expansion project at its headquarters in Price, Utah, will continue the 400,000 square-foot mega manufacturing facility master plan established in 2019. The expansion will include 125,000 square feet of factory floor space and 16,000 square feet of engineering and office space. The construction of this phase started in February 2021 and has a completion/move-in target date of September 2022, increasing the Utah campus to approximately 270,000 square feet by year’s end.
The 2022 staffing plan forecasts an additional 22 full-time jobs representing an increase of 62 full-time jobs in rural Utah since the beginning of 2019.