Adobe
Project Name
502
Date Announced
3Q 2017
Site
Lehi, Utah
“As a pioneer to the Point of the Mountain development area, it has been exciting to witness the tremendous growth here for both Adobe and the state.” -- Jonathan Francom, VP of Employee & Workplace Solutions
Jobs
1,260
Investment
$90 million
Square Footage
160,000 SF
Incentives
Adobe may earn up to 30 percent of the new state taxes they will pay over the 20-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 Adobe, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $25,751,258. Each year as Adobe meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.