Podium 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 Podium, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $1,084,392. Each year as Podium meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.
“Podium represents another great example of Utah’s ability to start and grow successful IT companies. We are excited and congratulate them for their decision to continue that growth within the state of Utah.” --Theresa Foxley, President & CEO of EDCUtah
(More details to come)