Technology company and residential solar provider Lumio, Inc. plans to invest $120 million to expand its headquarters operations in Salt Lake City. The company expects to add up to 3,697 new high-paying jobs in Utah over the next 20 years.
“The amount of jobs Lumio will bring to the state will have a big impact on our local economy,” said Dan Hemmert, Executive Director, Utah Governor’s Office of Economic Opportunity (Go Utah). “There is a big market for solar and home experience upgrades in Utah, and we wish Lumio success as they continue to grow and expand.”
Lumio is a leading technology company and instant top-five U.S. residential solar provider comprising four leading regional solar companies and multiple software platforms. Lumio’s collective strength lies in experience design, software, partnerships, supply chain, cooperative sales strategies, fulfillment, and best-in-class operations.
“We’re increasing demand for renewables and decentralized energy production, storage, and management, so it’s crucial that Lumio invests heavily in the tech and the people who will meet this demand,” said Greg Butterfield, CEO of Lumio. “We’re thrilled to partner with Go Utah to ensure the state is at the forefront of sincere sustainability.
“Our leadership team has built dozens of companies across the Wasatch Front, so we know from experience that Utah develops and attracts the best people anywhere,” Butterfield added.
Lumio may receive up to 25% of the additional state taxes it will pay over the 20-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. The Go Utah Board has approved a post-performance tax credit not to exceed $40,308,233. As with all such agreements, each year that Lumio meets the criteria in its contract with the state, it will qualify for a portion of the total tax credit.
“While our involvement in this expansion project was limited, we welcome Lumio to Utah’s fast-growing tech industry,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “Our state is a productive base for any innovative company like Lumio.”
Apogee Worx Expands Ogden Location
In Ogden, aerospace company Apogee Worx, LLC will invest $6.5 million to expand its Utah operations, adding up to 100 new high-paying jobs in the next eight years.
“After investigating options in other states, Apogee Worx is excited to be expanding in Northern Utah near the Ogden Hinckley Airport and Hill AFB. Utah provides clear benefits including access to a talented workforce and a deep aerospace industrial base,” said Steve Pollard, Apogee Worx’s co-owner and co-founder. “We appreciate the forward-leaning incentives provided by the Governor’s Office of Economic Opportunity that make this expansion possible.”
Apogee Worx focuses on Department of Defense (DoD) aircraft systems integration with multiple current contracts upgrading USAF Ogden Air Logistics Center supported aircraft, such as the A-10C. Apogee Worx designs and manufactures components necessary to install new capabilities in DoD aircraft. Additionally, the company manufactures aircraft support equipment.
“Utah’s aerospace industry is growing rapidly, and we’re excited that Apogee Worx will be adding to that growth,” said Hemmert. “This expansion will create jobs in engineering, software, manufacturing, and more, benefiting residents in northern Utah.”
Apogee Worx may receive up to 15% of the additional state taxes it will pay over the eight-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. The Go Utah Board has approved a post-performance tax credit not to exceed $812,437.
“Apogee Worx is a vital and active player in Utah’s aerospace and defense supply chain,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “The expansion of their footprint in Northern Utah will continue to bring benefits to the region and the state.”
Cytiva To Create Nearly 400 Jobs In Logan
Meanwhile in Logan, UT, global life sciences company Cytiva will invest $231 million to expand its facility, adding up to 396 new high-paying jobs in the next 10 years.
“Our work in Logan, Utah enables the development and manufacture of many novel therapeutics,” said Justin Meehan, plant manager at Cytiva. “As global demand for our products and services continues, expanding our operations in Logan will help us deliver for our customers and patients.”
Cytiva provides technologies and services advancing and accelerating the development and manufacturing of therapeutics. Customers undertake life-saving activities, ranging from developing innovative vaccines, biologic drugs, and novel cell and gene therapies.
“We’re excited Cytiva is growing, and we couldn’t be happier that the company is expanding its Logan location,” said Hemmert. “Utah has a robust healthcare industry, and it’s great to see companies like Cytiva deliver life-altering technologies around the world.”
Cytiva may receive up to 25% of the additional 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 $4,855,064.
“With this expansion, Cytiva continues its multi-year pattern of multi-million dollar investment in Cache County,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “It’s heartening to see Cytiva’s continued confidence in Hyclone’s legacy — one of Utah’s original BioHive companies — and in Cache County’s future.”
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