Today, the Utah Governor’s Office of Economic Opportunity (Go Utah) awarded Orbia’s Connectivity Solutions business, Dura-Line, LLC, a temporary, marginal tax reduction for its expansion in Utah. The post-performance corporate incentive is part of the Legislature’s Economic Development Tax Increment Financing (EDTIF) program.
Dura-Line is a leading global manufacturer and distributor of telecommunications conduit, cable-in-conduit, and other High-Density Polyethylene products that create physical pathways for fiber and other network technologies connecting cities, homes, and people.
“Dura-Line’s quality conduit connects individuals and communities to each other and economic opportunities,” said Dan Hemmert, the Office of Economic Opportunity’s executive director. “I’m pleased Dura-Line is expanding in Utah, and I look forward to watching the company grow.”
As part of the agreement with the Office of Economic Opportunity, Dura-Line plans to invest $73 million in the next five years to build two production facilities in the Greater Salt Lake City area that are anticipated to introduce up to 62 new high-paying jobs to the region.
“We looked at several locations throughout the western U.S. for this expansion, but with our long history of success with our North Salt Lake facility, it just made sense for Dura-Line to put down even deeper roots,” said Dale Wilson, vice president of sales and marketing, U.S. and Canada, at Dura-Line.”
Dura-Line may receive up to 15% of the additional state taxes it will pay over the five-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Financing (EDTIF) tax credit (U.C.A. 63N-2-106(2)). Each year that Dura-Line meets the criteria in its contract with the state, it will qualify for a portion of the total tax credit.
“We’re delighted that a world-class manufacturer like Dura-Line would select the Utah Inland Port Authority for its latest expansion,” said Theresa A. Foxley, president and CEO of EDCUtah. “We look forward to seeing the continued growth of Dura-Line’s operations across several Utah locations.”
Original source can be found here.
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