Vitalpax Expands La Verkin, Utah, Production Center
According to the Utah Governor’s Office of Economic Opportunity, the state awarded Vitalpax, Inc. a temporary, marginal tax reduction. This post-performance corporate incentive is part of the Legislature’s Economic Development Tax Increment Finance (EDTIF) program. Eligible companies work with the Economic Opportunity office to outline performance criteria. Once the office confirms those criteria have been met, companies can receive a refund of a percentage of the new, additional state taxes they paid until their contract expires.
“Vitalpax has a phenomenal team of skilled leaders and experts within the dietary supplements industry,” said Dalyon Ruesch, CEO of Vitalpax. “With our combined 75 years of experience in contract manufacturing, we have created a full turnkey solution where clients can get everything they need to build a successful brand in one place.”
By locating in La Verkin the company is eligible for the rural modifications of the state’s EDTIF tax credit program. Tax credits are approved by Go Utah’s governor-appointed executive director, with advice from the Go Utah Board and support from local communities.
“We’re excited to see Vitalpax continue to grow in La Verkin, Utah,” said Dan Hemmert, the Office of Economic Opportunity’s executive director. “The company’s dedication to its local community has been obvious throughout our discussions, and we wish Vitalpax continued success.”
Vitalpax may receive up to 30% of the additional state taxes it will pay over the 10-year life of the agreement in the form of a Utah Legislature-authorized Rural Economic Development Tax Increment Finance (REDTIF) tax credit. Each year that Vitalpax meets the criteria in its contract with the state, it will qualify for a portion of the total tax credit.
“Vitalpax has been a mainstay in Washington County, and its manufacturing and distribution expansion will continue to diversify the City of La Verkin’s economy,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah (EDCUtah). “The expansion is well aligned with Gov. Cox’s goal to encourage job growth and investment across the entire state.”
Vitalpax provides start-to-finish research and development, testing, sourcing and procurement, manufacturing, and delivering the final nutritional supplement product. These can include delivery forms such as tinctures, capsules, tablets, powders, juices, and more.
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