A manufacturer of disposable medical devices plans to invest more than $500 million in its Utah facilities and add more than 1,000 jobs in coming years, state officials said this week.
The Governor’s Office of Economic Development said Merit Medical Systems, headquartered in the Salt Lake City suburb of South Jordan, announced a 15-year contract that could see the company receive up to 25% of the new state taxes it pays over that span.
The company would earn a portion of the rebate each year if it "meets the criteria in its contract;" the GOED said the overall post-performance Economic Development Increment Finance tax credit rebate would not exceed $17.87 million.
Merit Medical Chairman and CEO Fred Lampropoulos said in a statement that the company was committed to growing its business with local talent “in all areas,” including engineers, statisticians, and business professionals.
Merit’s products include intervention, diagnostic, and therapeutic devices for cardiac and cardiovascular, oncology, spine, endoscopic, and critical care procedures.
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