“We are excited about the number of electronic, engineering, manufacturing and development jobs the Beijer Electronics expansion will bring to Utah,” said Governor Gary R. Herbert. “Moves such as this reinforce the notion that Utah is a premier place to do business.”
For thirty years, Beijer Electronics has designed and manufactured human machine interface (HMI) products for industrial Original Equipment Manufacturers (OEMs) and vehicle system integrators. With a current workforce of 94 people, Beijer Electronics provides products to customers around the world. Products include automation software, operator panels, industrial/panel PCs and mobile data terminals.
Over the 10-year life of the agreement with the state, the company will pay out over $37,887,196 in new state wages. All of the incented jobs will pay at least 125 percent of Salt Lake County’s average annual wage including benefits.
In addition to the increase in new state wages, Utah’s economy will also benefit from $5,396,111 in new state tax revenues and $600,000 in capital expansion.
“I am excited about the opportunity that Utah provides to the Beijer Electronics, Inc., America’s Group. The local workforce is richly populated with educated and talented individuals who are motivated for success. The Utah infrastructure and technology services are critical in making the Salt Lake Region the perfect headquarters for many years to come,” said Barry Hobbs, president & CEO Beijer Electronics, Inc., Americas.
“It’s exciting to see a company like Beijer Electronic expand in Utah as they bring a diversity of quality jobs to the State,” said Jeff Edwards, president and CEO of Economic Development Corporation of Utah. “We look forward to a long partnership with them.”
To learn about available positions at Beijer Electronics go to the company website beijerelectronics.com and click on the about us tab.
As part of a contract with Beijer Electronics, the GOED Board of Directors has approved a maximum cap tax credit of $1,079,222 in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) incentive, which is 20 percent of the net taxes Beijer Electronics will pay over the 10-year life of the agreement. Each year as Beijer Electronics meets the criteria in its contract with the state, it will earn a portion of the tax credit incentive.