Varian Medical

Project Name 
Hope
Date Announced 
1Q 2014
Site 
Salt Lake City, Utah
Competition 
China
“Utah has proven to be an excellent place to operate our business. Here we’re able to find the engineering and technical talent that we need to fulfill our mission of making world-class medical products..." -- Dow Wilson, CEO
Jobs 

1,000

Investment 

$29 million

Square Footage 

120,000 SF

Incentives 

The GOED Board of Directors approved a tax credit of some $7.1 million in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) incentive, in anticipation of receiving more than $35 million from Varian in new state tax revenues over the fifteen year life of the agreement. Each year as Varian meets the criteria in its contracts with the state, it will earn a portion of the tax credit. Over the 15-year period the company will also pay out more than $400 million in new state wages. All of the incented jobs will pay at least 125 percent of Salt Lake County’s average annual wage including company contributed health insurance.

Related Articles 

Medical Manufacturer Makes Meaningful Economic Impact, Utah Governor's Office

Varian Expanding, Bringing Utah High-Paying Jobs, Salt Lake Tribune

Varian Medical Breaks Ground on Salt Lake Expansion Project, Deseret News