State promises tax credit for Baxter Aerospace expansion in Washington City

The Salt Lake Tribune reported that the Utah Governor's Office of Economic Development has promised Baxter Aerospace a post-performance tax credit to expand in Washington City. The company is headquartered in nearby St. George. ^[1]

Under its agreement with the state, the company will add 90 high-paying jobs and invest $19,550,000 in Utah over the next five years. The expanded facility will add about 30,000 square feet to its operations. The Tribune said Baxter, originally based in Oregon, started as a wildfire-focused firefighting drone company and has expanded to satellite communications. ^[1]

The economic development office projected the expansion would generate $1,523,131 in new state tax revenue. If the company meets requirements such as job creation and investment, it would be eligible to receive 30% of that amount back, capped at just under $457,000. Jefferson Moss, the office's commissioner, said in a news release that the investment "signals to the world that Utah's economic future is fueled by frontier innovation in every corner of the state." ^[1] The office's announcement lists the same figures: 90 jobs, $19,550,000 in investment over five years, $1,523,131 in new state tax revenue and a 30% credit rate under its Rural Economic Development Tax Increment Financing program. ^[2]