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Government
Two global companies get state tax incentives to open in Utah -- The Governor's Office of Economic Development offered eBay $27.3 million in post-performance tax incentives in hopes of attracting the online auctioneer to open a new data center in Utah.
The Economic Development Tax Increment Financing incentive is payable over a 10 year period as a state tax revenue credit. The San Jose, Calif.-based company has not yet decided if it will build the $334 million center in Utah. State officials say the center, if it decides in favor of Utah, could hire up to 50 people earning an average $49,242 annually and more than $109 million in new state tax revenue over a 10-year period.
A $3.32 million post-performance tax incentive was also offered to Cementation USA Inc., an underground mine contracting and engineering company, which plans to open its U.S. headquarters in Salt Lake County. The state incentive, which is based on a tax credit of a portion of state tax revenue, is also payable over 10 years.
Cementation plans to invest more than $5.5 million in the build-out of its corporate headquarters and to buy mining equipment locally. The company plans to hire 422 full-time workers over the next 10 years at an average salary of $65,656 annually. More than $16.5 million in new state tax revenue is expected to be generated over the next 10 years.
People On the Move
Utah County Realtors make changes to board --The Utah County Board of Realtors made several changes to its board of directors.
Kelly Ercanbrack, the association's President Elect has stepped down. He is replaced by former First Vice President Matt Barton of Affiliated Realty Group. Replacing Barton is former Treasurer Eric Bingham of Vision Real Estate, while Director Kimberlie Kerswell of Affiliated Realty Group is now appointed treasurer.
Chris Nichols of Prudential Utah was appointed a director of the Utah County Realtors' Board.
In addition, the thirteen members of UCAR's board include President Kenny Parcell of RE/MAX Results; Amber Burke, Century 21 at the Rockies; Steve Cuillard of Affiliated Realty Group; Mardica Horton of Vision Real Estate; Katy Jackson of Affiliated Realty Group; Sharee Killpack of Territory Land Real Estate; Aaron McIntire of Realty Advantage; David Simpson of Landmark Real Estate; and Stephanie Vincent of Prudential Utah.
Zions Bank names new manager -- Schafer Jackson was named executive banking relationship manager of the Orem branch of Zions Bank at 1220 S. 800 East. Jackson provides personalized service for executive banking clients.
Jackson, who was most recently a loan officer and underwriter at Zions' West Valley office, has nearly two years of banking experience. He holds a finance degree in business management from Binghamton University in Binghamton, New York. |
