Companies Expanding In Top of Utah

The Home Depot Inc. accepted incentives last Thursday from the Governor’s Office of Economic Development to open an 80,000 square foot online customer service center in the Business Depot in Ogden. The Home Depot is the world’s largest home improvement retailer based on net sales for the fiscal year ended Jan. 30. The company operates 22 stores in Utah, with 2,200 stores in four countries.  This customer service center will employ 691 workers. 

That same day, the Governor’s Office of Economic Development authorized incentives allowing Lifetime Products, Inc. to undertake a $41 million expansion of its plastics manufacturing facility in Clearfield, Utah this will result in 142 new employees being hired over the next decade.  Lifetime, as a global company, is always looking for product and processes that allow us to expand globally, domestically, and especially locally in Utah, where we were founded 25 years ago and are headquartered still today Lifetime will retain its current work force and over the next decade will add 142 new full-time positions with salaries in excess of 125 percent of the Davis County average. The GOED Board has authorized a single post-performance tax credit of $3.1 million to Lifetime for new and retained jobs, as well as the expansion of the Clearfield manufacturing facility payable in increments over 20 years. The new state tax revenue to be paid by the company is expected to be in excess of $12 million.

The Home Depot customer service center will open in August and will lease space in a new building that will be built off Depot Drive.  Construction on the customer service center building will begin in the next few weeks and will be completed in Spring 2012.  The center will provide national support for the company’s online business, www.homedepot.com.   The Home Depot will invest more than $5 million in tenant improvements to the structure.  The Ogden location was one selected out of about 80 cities.  The GOED Board of Directors approved Thursday a 10-year post-performance tax credit of up to $521,867 over the life of the project. The state estimates that The Home Depot will pay more than $2.6 million in new state tax revenue over 10 years. The city will not provide any cash incentives to The Home Depot but will work with The Boyer Company, which manages Business Depot Ogden, to ensure that the lease on the customer service building is affordable.

Based on the job market, buying and selling homes in Ogden and the surrounding area is a great idea.  Please take advantage of the incredable mortgage rates and purchase the home you have been thinking about.  Whether you are selling your home or purchasing of a new home, whether you are a first time buyer or moving up, contact me at the above number or email me at kalleen.foster@utahhomes.com.

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