UTAH INCENTIVES SUMMARY

EDTIF Tax Credit
The Economic Development Tax Increment Financing (EDTIF) tax credit is a refundable tax credit rebate for up to 30 percent of new state tax revenues (sales, corporate and withholding taxes paid to the state) over the life of the project (typically 5-10 years). EDTIF is a maximum 30 percent tax credit available to companies seeking relocation and expansion of operations to the State of Utah. No more than 50 percent of a tax liability may be taken as a tax credit in any year. Utah must be in competition with other states for the project.

Industrial Assistance Fund
Provides a post-performance cash grant for job creation involving high-paying jobs in Utah. Companies must create at least 50 new jobs in urban counties, with salaries of at least 110 percent of the county average wage. There must be competition from other states, and the local government must participate with local incentives.