1500 (195 incented)
UPS may earn up to 20 percent of the new state taxes they will pay over the eight-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 UPS, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $4,760,642. Each year as UPS meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.
GOED Board Approves UPS Expansion Project, Utah Governor's Office
UPS Gets $5M Incentive to Expand in Utah, Salt Lake Tribune
In the of winter 2015, UPS began investigating Utah for a major project with the potential to create 1,500 jobs. Duff and Phelps, a national site selection firm, were the ones who originally contacted Utah and the initial coordination meeting included EDCUtah, GOED, Salt Lake City Council and the Salt Lake County Council. UPS sought out Utah as its first Mega Regional Hub because of Utah’s attractive location, proximity and efficiency of the Salt Lake International airport, in Utah’s strategic one and two-day trucking routes and railway systems.
Colliers Real Estate helped UPS narrow its focus to the Northwest quadrant of Salt Lake City. The city was instrumental in moving the project forward, and the location chosen in the Northwest quadrant represents a huge opportunity for growth. This will potentially be the first of several big wins in this area as Utah further explores the possibilities for developing an Inland Port.
UPS announced their project in summer of 2016 and will bring $200 million in investments to the state.