State promises tax credit for Baxter Aerospace expansion in Washington City
The company has agreed to add 90 jobs and invest $19.55 million in Utah over five years to qualify.
Based on reporting by The Salt Lake Tribune. Read the original story →
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]
Sources
This story was written by AI from the report by The Salt Lake Tribune, which has the full story. How we write stories.