JBS expanding Utah plant with state's help
Feb. 11, 2011
by Bryan Salvage
SALT LAKE CITY, Utah – Utah’s Board of the Governor’s Office of Economic Development met and approved a post-performance tax rebate to assist the meat packing and processing facility to expand in Hyrum, Utah. JBS USA Holdings Inc. plans to invest more than $30 million in developing a new and expanded meat packing and processing facility in Hyrum.
When completed, the expansion will employ 420 new full time staff in addition to the nearly 1,000 current employees at the location. The new positions will offer wages in excess of 100% of the Cache County average wage, including full benefits. New state wages paid over the 10 year life of the incentive will exceed $115 million and the state expects to receive more than $8.7 million in new taxes paid over the same period.
“We congratulate JBS on the expansion of their Hyrum facility,” said Utah Governor Gary Herbert. “This expansion will bring new, stable and high-paying jobs to northern Utah.”
“JBS is excited to continue our long standing partnership with Hyrum, Cache County, and the State of Utah,” said Jerry Petersen, JBS director of operations, Hyrum, Utah. “We feel this expansion will help us sustain our presence in the state by improving efficiencies and adding production capacity that will and provide a solid foundation for years to come.”
The Utah-offered incentive would be made available on a post-performance basis, payable after the job creation and investment has been made. It will be in an EDTIF refundable tax credit of $1,759,500 which represents 20% of new state revenue over 10 years.