L3 Communications

Project Name 
Midtown
Date Announced 
Q1 2019
Site 
Salt Lake City
“As one of the largest employers in the state, we’ve long known that Utah has highly-skilled talent,” said Dan Gelston, president of L3 Technologies’ Broadband Communications sector.
Jobs 

250

Incentives 

L3 Technologies may earn up to 20 percent of the new state taxes they will pay over the nine-year life of the agreement in the form of a post-performance Economic Development Tax Increment Financing (EDTIF) tax credit rebate. As part of the contract with L3 Technologies, the GOED Board of Directors has approved an EDTIF post-performance tax credit of $1,259,146 and a $100,000 grant that combined represents 20 percent of the estimated $6,759,731 of new state revenue, which may be earned over nine years. Each year L3 Technologies meets the criteria in its contract with the state, the company will earn a portion of the total tax credit rebate.