A company that makes aromatic compounds from natural ingredients, doTEERA, will invest $60 million to expand its Pleasant Grove, Utah, headquarters and production facilities, with plans to bring 330 jobs to the region.
“Due to the growing number of people looking to complement their healthcare in natural ways, it is critical that doTERRA invest in new facilities to meet the demand,” said president and CEO of doTERRA David Stirling. “The new facilities will allow for scientific testing and analysis, product development, information technology, marketing, product distribution and customer support.
Stirling also noted that their new corporate headquarters will provide a workplace for their rapidly expanding Utah-based workforce. Stirling went on to say, “we know from experience that Utah County attracts a highly-skilled, educated workforce and we are pleased the city of Pleasant Grove will be the center of our global operations for years to come. City, county and state government officials have been wonderful to work with through this process, showing once again why Utah continues to be among the nation’s leaders in economic development.”
“Although only a few years old, doTEERA has already brought many jobs to Utah County. This agreement with the state will help the company create even more jobs and tax revenue in Utah County’s fast growing economy,” Governor Gary Herbert said.
“We are thrilled to have worked a deal that will continue to grow our productive workforce,” GOED executive director Spencer Eccles said. “doTERRA’s choice to utilize our incentives program will keep their expansion in Utah and will further benefit the community and the state.”
The Governor’s Office of Economic Development Board of Directors has approved a post-performance Economic Development Tax Increment Financing refundable tax credit of $16,655,814, or 20 percent of the new state revenue paid by the company over the 10 year life of the agreement.
doTERRA entered into an incentive agreement with the state that will last 10 years. Over that time, the company will pay roughly $83 million in new state tax revenue and will invest $60 million in capital investment. The company will bring 330 new full time jobs to their headquarters in Pleasant Grove, Utah. These jobs will pay $136.4 million in new state wages, or at least 125 percent of Utah County’s average annual wage including benefits.
“Pleasant Grove is thrilled that doTERRA has chosen our community for their new global headquarters. doTERRA is a quality organization from top to bottom. They have a stellar reputation throughout Utah and around the world, and we are proud that they have chosen to associate their brand with Pleasant Grove,” Pleasant Grove Mayor Bruce Call said.