WhiteWave Foods may earn up to 20 percent of the new state taxes they will pay over the six-year life of the agreement in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) tax credit rebate. As part of the contract with WhiteWave Foods, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $1,001,878. Each year as WhiteWave Foods meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.
GOED Board Approves Incentive for WhiteWave Foods, Utah Governor's Office
In the spring of 2016 WhiteWave Foods and their consultancy, Incentis Group, engaged EDCUtah and the Governor’s Office of Economic Development (GOED) in the search for a new production location. WhiteWave is the parent company of a number of brands such as Silk, Horizon Organic, Wallaby Organic, and more. Their consideration of northern Utah centered on its existence as a hub for logistics, as well as its proximity to the source of the raw ingredients used in producing their products.
Eight communities in northern Utah responded to EDCUtah’s RFI for the project in March, and the company made multiple visits to Utah throughout the spring, while simultaneously engaging in negotiations around incentives. EDCUtah and GOED also pitched to the company the benefits of Utah’s CustomFit Training program and the incentives involved with that. The project was temporarily put on hold during the summer following an acquisition of WhiteWave by Danone, but was resumed in early September. WhiteWave Foods has accepted an EDTIF incentive from the Governor’s Office of Economic Development and is continuing on with the site selection process with a refined focus upon Salt Lake County.