NEWS ITEMS
AROUND THE WEB
NEWS ITEMS
AROUND THE WEB
May U.S. Factory Orders Rise Significantly
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Utah
Resources Page
Military Bases As Economic Development MagnetsMany of the military bases that have survived the Base Realignment and Closure (BRAC) have become hotbeds of development. More |
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Clean Energy, Green EconomyRenewable energy stands poised to create opportunities across the country. More |
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Utah Attracts Investment, Educated Work Force With Science Initiatives, Outdoor Sports NicheThe Utah Science, Technology and Research Initiative (USTAR) is “recruiting great minds to develop and commercialize technologies to Utah. More |
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2008 Gold & Silver Shovel AwardsArea Development’s annual Gold and Silver Shovel awards honor states that have generated top job-creation and investment projects across the nation. These states are highly active in business development, from conducting foreign trade missions to crafting innovative incentive packages and work-force development programs — all of which attract new companies, stimulate investment, create jobs, and strengthen tax bases. More |
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Utah
At A Glance
POPULATION:
2,699,554 (2007)
Corporate Income and Franchise Tax: 5 percent
LABOR FORCE: 1,346,802 (2007)
RIGHT TO WORK: YesTRADITIONAL INDUSTRIES: Manufacturing, mining, government, agriculture
EXPANDING INDUSTRIES: Healthcare, aerospace, outdoor products, construction, tradeCOLLEGE GRADUATES (Age 25 and over) 27.2%
BASIC BUSINESS TAXES:Corporate Income and Franchise Tax: 5 percent
Sales and Use Tax: 5.75-7.25 percent
Property Tax: Statewide property tax per capita of 2.4 percentBUSINESS INCENTIVES:
- Commonly used incentives:
- Economic Development Zone tax increment financing
- Industrial Assistance Fund (IAF)
- Rural Fast Track Program (RFTP)
- Enterprise zones
- Specialty incentives:
- Aerospace aviation tax increment financing (AATIF)
- Custom Fit Training Program
- Economic Opportunities (EO)
- Film incentives
- Private activity bonds (PABs)
- Recycling zones
- Rural Broadband Service Fund
- Manufacturing equipment sales tax exemption
- Short-term intensive training/ incumbent worker training
- Workforce Investment Act (WIA)
- Industrial development bonds
- Aerospace tools tax exemption
