Campbell Scientific, a homegrown Logan high-tech company with offices around the world, plans a $40 million expansion at its 1800 North facility projected to add 268 new jobs.
On Monday, the Governor’s Office of Economic Opportunity, also known as Go Utah, announced what’s known as a “temporary marginal tax reduction” agreement for the expansion project. This will give the company a 25% refund on an estimated $28 million in new state tax revenue resulting from the expansion — paid at completion of the 10-year growth contract.
“Utah does not provide up-front cash for corporate retention and recruitment. Instead, the state offers a post-performance tax credit after the company meets specific obligations, including capital investment, new high-paying jobs, and additional state tax payments,” Go Utah stated in a press release. Read the rest of the story on HJnews.com.
This story is made possible thanks to a community reporting partnership between The Herald Journal and Utah Public Radio.
