Boeing, 2 more firms promise jobs for Utah tax credits

The Governor’s Office of Economic Development on Thursday said it has approved tax incentives for Boeing and two other companies that have promised to create a total of 819 new jobs in Utah.

• Boeing will receive a $1.4 million post-performance tax credit if it creates 104 manufacturing jobs at its Salt Lake City plant over the next 20 years.

The jobs will pay at least 125 percent of Salt Lake County’s average yearly wage. Wages over the life of the incentive will exceed $146 million. Boeing will pay close to $5.5 million in new state taxes over the period, GOED said.

In March Boeing said it would assemble horizontal stabilizers for its 787-9 passenger jets in Utah. Boeing currently makes the stabilizers overseas, and needs a second manufacturing location, GOED spokesman Michael Sullivan said.

• Instructure, a Sandy-based education software maker, will receive a $1.9 million post-performance tax credit if it creates 655 new jobs in Utah over seven years.

Like Boeing, Infrastructure will pay average annual wages that are 125 percent of Salt Lake County’s yearly annual wage. The wages will total about $235 million.

Infrastructure will pay more than $9.4 million in sales taxes over the period.

• Orbit Irrigation Products has agreed to move 60 jobs to Utah from Asia to their North Salt Lake manufacturing site in the next decade. In return, the Bountiful-based company will receive a $2.4 million tax credit.

Wages over the lifetime of the agreement will total more than $68 million. The employees will earn 125 percent of the average Davis County annual yearly wage.

Orbit also will pay $22.2 million in new state taxes.

Article:   http://www.sltrib.com