PillPack may earn up to 20 percent of the new state taxes they will pay over the five-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 PillPack, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $410,646. Each year as PillPack meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.
PillPack Chooses Utah for Expansion, Utah Governor's Office
In 2016 PillPack Industries launched the second phase of their project to create a new hub for their pharmacy company creating 90 new jobs for both marketers and pharmacy technicians. After the first phase, aimed at customer support to create an onboarding location for client development, PillPack experienced significant growth within their company. Their success from the first phase caused them to seek out Utah for phase two of their expansion.
CBRE aided PillPack in the site selection process. With competitive alternatives in Phoenix, Denver, Boise, New Hampshire and Boston, CBRE was able to help them find the best real estate here in Utah. EDCUtah aided PillPack on the major expansion points, as the process was originally on hold because of licensing issues with DOPL in regards to the pharmacist/pharmacy technician ratio. This issue was resolved resulting in a 5,000-dollar value save for PillPack.
Local leaders such as Nick Duerksen, with the Economic Development division for Sandy, aided the company in finding the most strategic location for their expansion. Other local leaders helped PillPack connect with University Programs as the company needs a balance of pharmacists and distribution service employees to run smoothly. GOED also provided an incentive for PillPack was involved in the licensing process with DOPL on behalf of PillPack.
PillPack announced the project in 4Q2016. They have chosen Salt Lake County, Utah as the place for their expansion.