Thursday, February 10, 2011

Governors Office of Economic Development OKs $30 million expansion incentive for Cache Valley manufacturer

The Board of the Governor’s Office of Economic Development Thursday approved a post-performance tax rebate to assist a meatpacking and processing facility to expand in Cache County. JBS USA Holdings Inc. will invest more than $30 million in the development of a new and expanded facility in Hyrum. When completed, the facility will employ 420 new full time staff in addition to the nearly 1,000 current employees already working at the location.

The new positions will offer wages in excess of 100 percent of the Cache County average wage, including full benefits. New state wages paid over the 10-year life of the incentive should exceed $115 million and the state expects to receive more than $8.7 million in new taxes paid over the same period. Deseret News