www.business.utah.gov

EDTIF, IAF Incentives are available to:

Companies who ….• are currently located in Utah and looking to

expand• do not have operations in Utah and want to

relocate here

And…….• Who meet the key program benchmarks set out

by the GOED Board.

EDTIF and IAF Key Program Benchmarks:

• Competition with other locations• Historical Profitability• In a Cluster/Target Market• Creation of New, High Paying Jobs• Creation of 50 Fulltime Jobs, Rural or Urban• 125% Average Urban, 100% Rural, Wages• Capital Investment• Company is a Going Concern• Local Incentive

EDTIF and IAF Incentive Awards:• Always Post Performance• Based on New Corporate or Partnership Income Tax, Wage

Withholding Tax and the States portion of Sales Tax• EDTIF incentives are a Refundable Tax Credit and IAF is a small

Cash Grant• Under EDTIF no more than 50% in any 1 year and no more than

30% over the life of the project• Company must remain in Utah for the life of the incentive• Company must meet 50% of its 1st and 2nd full calendar year

employment and wage projections or the incentive is void • Company must meet 25% of its 3rd and all subsequent full calendar

year employment and wage projections or the incentive is void• Project cannot materially change from what was approved or the

contract is void• Any other benchmarks as determined by the GOED Board

What types of projects typically don’t qualify for an EDTIF and IAF incentive?

• Retail Operation• Educational or Nonprofit Companies• Startup/Venture Capital Companies• Natural Growth • Company is not a Going Concern• Historical Losses• Low Paying Jobs• Local Support only, No Local Incentive

Business Growth & Incentives

Corporate Recruitment & Incentives

$69$227

$1,735

$172

$618

$3,366

$69$278

$506

$3,513

$260

$2,886

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

Incentives Offered New State Revenue Capital Investment New State Wages

Mil

lio

ns

FY 2008 FY 2009 FY 2010 to date

Business Growth & Incentives

Looks Who’s Investing in Utah

•Mozy Inc•eBay •Haemonetics•Edwards Lifesciences•Fairchild Semiconductors•Merit Medical•Mediconnect Global, Inc•Goldman Sachs

Distribution of Incentives – FY 2010

• Salt Lake County $66.7M

• Utah County $0.5M

• Sanpete County $1.8M

• Total $69.0M

Rural DevelopmentSupport Utah’s rural communities and

businesses by raising awareness of needs and connecting rural Utah to public and

private sector resources

Rural Fast Track FY 200939 ProjectsNumber of Jobs 57 Committed $1.7 million10.2M in private investment

12 Distress Factors (2009)

Factors 10 or more8-96-74-52-30-1

www.business.utah.gov

lprall@utah.gov

12 Indicators of Distress

• Population Growth• Population Density• Annual Job Growth• Unemployment Rate• Non-Ag Wages• Growth in Non-Ag Wages • Poverty Rate

• Per Capita Gross Taxable Sales

• Growth in Taxable Sales• Distance from

metropolitan center• County regional center

over 10,000 pop• Private land ownership