Here are some of the available incentives to new or expanding industries in Utah County
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Favorable Worker's Comp Rates |
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Contact: |
Utah Workers Compensation Division,
Salt Lake City (800) 446-2667 |
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Accelerated Depreciation on Computer-Controlled
Equipment |
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Contact: |
Ms. Mardene Barker, c/o Utah County
Assessor's Office, Provo (801) 370-8279
Herb Jenkins, Utah State Tax Commission, Salt Lake City (801) 297-3686 |
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Redevelopment Areas (RDA) or Economic
Redevelopment Areas (EDA)
Tax Increment Financing (TIF) allows part of
the property tax generated from the new development to benefit the
company, generally in the form of infrastructure. |
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Contact: |
Mr. Cary McConnell, c/o Utah County
Auditor's Office, Provo (801) 370-8236 |
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Sales Tax Exemptions on Purchases of New
or Replacement Manufacturing Equipment or Machinery and Manufacturers'
Inventories. |
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Contact: |
Utah State Tax Commission, Salt Lake
City (801) 297-2200 |
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Tax Exemption on Raw Materials Used in
Manufacturing |
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Contact: |
Utah State Tax Commission, Salt Lake
City (801) 297-2200 |
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Custom-Fit Training & Short-Term
Intensive Training (STIT)
The Mountainland Applied Technology College,
part of the Utah College of Applied Technology (UCAT), offers pre-employment
and skills upgrade training and services to Utah County employers.
Funding assistance is available to offset costs based on company qualification
and funding availability. |
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Contact: |
Mr. Lionel Blau, c/o Mountainland
Applied Technology College, Orem (801) 863-7538
Link |
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Industrial Assistance Fund (IAF)
The IAF is an incentive loan that can be paid
off by credit earned from creating high-quality manufacturing jobs
for Utahns, paying higher than average wages, and/or purchasing Utah
products. The program is designed to convert the loan to a grant. |
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Contact: |
Mark Renda, c/o State of Utah Business
and Economic Development Division, Salt Lake City, (801) 538-8698
Link |
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Industrial Development Bonds
Industrial Development Bonds are exempt from
Federal tax and are available to private sector developers for manufacturing
companies. |
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Contact: |
Mark Renda, c/o State of Utah Business
and Economic Development Division, Salt Lake City, (801) 538-8698 |
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Recycling Market Development Zone
Program
Under this program, companies located in zones
that collect, process, or handle recycled material or use them in
manufacturing are offered tax credit. |
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Contact: |
Mr. Les Prall, c/o State of Utah
Business and Economic Development Division, Salt Lake City (801) 297-2200
Link |
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Low Property Taxes
Utah County has the lowest property tax rates
in the Wasatch Front. |
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Contact: |
Ms. Mardene Barker, c/o Utah County
Assessor's Office, Provo (801) 370-8279
State Tax Commission Link |