According to a press release from the company and the Governor’s Office of Economic Opportunity, the Nephi facility will be expanding and adding up to 70 new jobs over the next decade.

“We’re very excited for Owens Corning to expand its operations capabilities in Juab County,” said Dan Hemmert, Go Utah’s executive director. “This expansion will add to Utah’s growing manufacturing industry and create more job opportunities for Utahns.

“Additionally, we’re thrilled by Owens Corning’s commitment to the safety and well-being of its people and its tradition of giving back to the communities in which they operate,” Hemmert said.

Owens Corning is a global building and industrial materials leader headquartered in Toledo, Ohio. The company’s three integrated businesses are dedicated to manufacturing and advancing a broad range of insulation, roofing and fiberglass composite materials.

It is the world’s largest manufacturer of fiberglass composites. It was formed in 1935 as a partnership between two major American glassworks, Corning Glass Works and Owens-Illinois.

With decreasing sales and profits in consumer products, the division was sold to Borden Foods in 1998 and renamed World Kitchen, LLC in 2000.

Now the company employs 19,000 in 33 countries. Owens Corning provides innovative products and sustainable solutions that address energy efficiency, product safety, renewable energy, durable infrastructure, and labor productivity, according to a company press release.

The company’s existing facility in Nephi, produces unbonded loosefill (ULF) fiberglass insulation and employs about 40 people.

Owens Corning may earn up to 50% of the new state taxes it will pay over the 10-year life of the agreement in the form of a Utah Legislature-authorized Rural Economic Development Tax Increment Finance (REDTIF) tax credit. The Go Utah Board has approved a post-performance tax credit not to exceed $2,521,537.

Each year Owens Corning meets the criteria in its contract with the state, it will earn a portion of the total tax credit.

“Having a nationally recognized brand like Owens Corning select Juab County for expansion fits well our vision of a quality job for every aspiring Utahn, including those in our rural communities,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah (EDCUtah).

“Not only will the company pay desirable wages for the county, but this project will also triple the size of the workforce, representing a significant capital expenditure circulating in the local economy,” Foxley added.

The capital investment will be $52.5 million and will include 70 jobs with wages at $61,477,054.

The Utah Legislature has authorized economic development incentives in the form of post-performance tax credits to promote rural businesses development.

Eligible companies work with the Utah Governor’s Office of Economic Opportunity to outline specific performance criteria. Once the Office confirms those criteria have been met, according to statute (U.C.A. 63N-2-104(c)(ii)), companies can receive a refund of up to 50% of the state taxes they paid for up to 20 years.

The contract with the state is post-performance; it only provides a state tax credit if the company meets its obligations, according to Go Utah.

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