Significant purchases from Utah vendors or suppliers.At least 110% of the county average wage.Create new high-paying jobs in the state.The office does not consider projects for businesses operating for less than three years that cannot show consistent profitability.The new project must compete with other locations.New jobs created must pay at least 110% of the county average wage within both rural and urban communities and be within a specifically targeted industry.The life of the incentive is typically five to 10 years.No more than 50% credit in any one year.Maximum credit of up to 30% over the life of the project.The incentive is available to Utah companies and others seeking to relocate or expand operations to Utah. The EDTIF tax credit is a post-performance, refundable tax credit for up to 30% of new state revenues (sales, corporate, and withholding taxes paid to the state) over the life of the project (typically 5-10 years). *For the EDTIF program, incorporated towns within these counties that have fewer than 10,000 residents are considered rural.

Up to 30% in most cases and up to 50% for very large projects Percentage of new state tax revenue from the project that may be given in a post-performance tax credit New jobs created must pay at least 100% of the average county wage New jobs created must pay at least 110% of the average county wage Targeted industry preferred but not required Project must be in one of five strategic targeted industries Project located in Box Elder, Cache, Iron, Summit, or Tooele counties Project located in Salt Lake, Davis*, Utah*, Washington*, or Weber* counties The table below outlines how the EDTIF program applies in different areas of Utah. The company’s corporate citizenry efforts.Whether or not the jobs are related to headquarters or innovation operations.Go Utah will evaluate projects applying for the EDTIF program, in urban and rural areas, on the following criteria: The Go Utah office may authorize additional, non-retail projects outside of these targeted industries in rural communities.Īdditionally, with the rural modifications to the EDTIF program, known as REDTIF, projects within rural Utah qualify for more significant incentive amounts. The EDTIF program is available for companies expanding in targeted industries in urban counties. New guidelines from the 2022 legislative session focus on creating jobs throughout Utah while recognizing the unique challenges in the state's urban and rural areas. As the state’s needs and economy continue to evolve, the Legislature fine-tunes the EDTIF program to maintain Utah's robust environment for economic development. The Utah Legislature created the Economic Development Tax Increment Finance (EDTIF) corporate incentive program in 2005. The statute that governs Utah’s economic development incentives is titled U.C.A. It’s called an Economic Development Tax Increment Finance (EDTIF) tax credit. The state Legislature created Utah’s incentives program. Since its 2005 inception, approximately two-thirds of the companies participating in the state’s tax credit incentive program are Utah-based companies. They’re disbursed only after the company has met contractual performance benchmarks, including job creation, capital expenditure, and payment of new state taxes. Incentives are offered as tax credits or grants. Incentives are available to select companies creating new, high-paying jobs that improve quality of life, increase the tax base, and help diversify state and local economies. The office’s executive director provides the final sign-off on all awarded incentives. The Go Utah Board votes on all proposed incentives in a public meeting. The office’s Corporate Retention and Recruitment team recommends financial incentives for local and out-of-state companies seeking to expand or relocate to Utah. Whether growing from within or recruiting targeted industry firms, Utah’s economy continues to lead the nation with its business-friendly environment.

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