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Salt Lake City —http://www.beijergroup.com/web/web_en_corp_com.nsf">Beijer (bayr) Electronics has announced plans to expand its Salt Lake City office, a decision that is expected to create 71 new high paying jobs over the next 10 years.
The company signed an incentive agreement with the Governor’s Office of Economic Development. Over the 10-year life of the agreement, the company is expected to pay out over $37,887,196 in new state wages. All of the incented jobs are expected to pay at least 125 percent of Salt Lake County’s average annual wage including benefits.
For 30 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.
“I am excited about the opportunity that Utah provides to the Beijer Electronics, Inc., America’s Group,” said Barry Hobbs, president & CEO Beijer Electronics, Inc., Americas.
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.