EMC

Project Name 
Rhonda, Ron, 360
Date Announced 
2Q 2011, 3Q 2012, 2Q 2015
Site 
Draper, Utah
Competition 
California, Massachusetts, Texas
"Today's event is the result of many months of collaboration and of Utah's ability to meet our needs for an IT skilled workforce, a competitive infrastructure and an attractive cost and quality of living." -- Howard Elias, President & COO
Jobs 

2011: 500

2012: 300

2015: 7,000

Investment 

2011: $7.6 million

2012: $4 milion

2015: $62 million

Square Footage 

2011: 25,000 SF

2012: 0 SF

2015: 85,000 SF

Incentives 

2011: Under the terms of the agreement, EMC also commits to an additional capital investment of approximately $4 million. The extension brings the potential post-performance tax credit incentive to $5,173,967.  New state tax revenue over the same period is expected to be $20 million.

2012: Over the life of the agreement, the State expects to receive over $14 million in new State tax revenues.  And, over 10 years, the State will offer a post-performance, single taxpayer incentive not to exceed $3,513,700. The incentive will be paid out as a tax credit after EMC has paid its corporate, wage and sales taxes.

2015: As part of the contract with EMC, the GOED Board of Directors has approved up to a maximum tax credit of $3,873,191 in the form of post-performance Economic Development Tax Increment Finance (EDTIF) incentive, which is 25 percent of the new state taxes EMC will pay over the 10-year life of the agreement. Each year as EMC meets the criteria in its contract with the state, it will earn a portion of the total tax credit incentive.

Related Articles 

Utah's Governor's Office of Economic Development Announces New Jobs Expansion for EMC Corporation, Utah Governor's Office

Governor Announces 500 New Jobs at EMC Corporation, Utah Governor's Office

EMC to Expand its Utah Operations Again, Utah Governor's Office

Global "Cloud" Company EMC Corp to Hire 500 in Utah, Salt Lake Tribune