The state of Utah on Thursday approved an incentive of as much as $33.7 million for ITT Corp., which plans to add up to 2,700 workers in the next 15 years at a new composites manufacturing and engineering facility in the Salt Lake City area.
The incentive, payable over 15 years in the form of a rebate of corporate income taxes paid in the state, is based on the company’s plans to invest an estimated $120 million in the facility. Sites being considered are in Salt Lake City, West Jordan and West Valley City. In its application, the company said it plans to add the workers at an average pay of $52,000, including benefits. Company officials say about 400 people are already employed in Utah near Salt Lake City International Airport. Salt Lake Tribune
