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• Population (2008): 2,736,424
• Largest Cities (2008): Salt Lake City, 181,698; West Valley City, 123,447; Provo, 118,581; West Jordan,104,447;
Sandy, 96,660
• Targeted Industries: Aviation and Aerospace, Outdoor Products and Recreation, Life Sciences and Personalized
Medicine, Software and IT
• Key Incentives:
Economic Development Tax Increment Financing, Industrial Assistance Fund
• GDP (All Industry 2008):
$109.8 billion*
*Bureau of Economic Analysis, U.S. Department of Commerce
The Economic Development Tax Incentive is a tax rebate of new revenues consisting of state sales, corporate, and withholding taxes for companies seeking relocation and expansion of operations to Utah. The maximum rebate allowable is up to 30% and is awarded on a post-performance basis for up to 10 years. New jobs created must pay 125% higher than county median wages within urban communities or 100% of county median for rural.
The Industrial Assistance Fund (IAF) is a job-creation incentive fund available to companies seeking relocation and expansion of operations to Utah. The IAF provides grants for the creation of jobs paying higher than prevailing wages within the community. Grant disbursements are made on a post- performance basis after jobs have been created and retained.
The Utah Aerospace/Aviation Tax Increment Fund was created by the Utah Legislature in 2003 to encourage the development of the Aerospace Ecosystem. Rebates are awarded based on new state revenues consisting of sales, corporate, and withholding taxes paid to the state. The incentive is available to aviation- and aeronautics-related companies seeking relocation and expansion of operations to Utah. The maximum rebate allowable is up to 30% and is awarded on a post-performance basis for up to 10 years. New jobs created must pay 125% higher than county median wages within urban communities or 100% of county median for rural.
Explore detailed community demographic information at ZoomProspector.com
2009 Business Facilities Rankings Report
Deal of the Year Awards Honorable Mention
Economic Development in a Flash
Salt Lake City, Utah - Metro Spotlight
