Goed Board Gives Grant to Dbt
DBT America, a mechanical engineering company supplying mining equipment, was approved for an expansion of its Emery County operation.
The company currently employs about 100 people and will be adding 12 to 15 new jobs with a capital investment of approximately $4 million dollars. The incentive approved by the Governor's Office of Economic Development (GOED) Board was from the Industrial Assistance Fund.
The grant is to be paid post performance and will not to exceed $45,000 over five years. The average wage paid must be over 125 percent of the county median wage.
As a part of the business meeting, the GOED Board had a thoughtful discussion about the needs of rural Utah. The effect of development on rural communities was noted and the impact of rising prices, including housing costs, make it harder for young people to stay in the area as they mature.
Gayle McKeachnie, the Governor's Rural Policy Advisor and Rural Director at GOED, encouraged the Board to "remember agriculture and its significant role in our state and country."
He also suggested the Department of Agriculture be invited at a future date to present the significant work it is doing to market Utah products and support jobs in the State. McKeachnie noted that the job numbers often reported are generally non-farm jobs and we should not lose sight of the fact that agriculture is a major job contributor in our state.
The board discussed the possibility of holding meetings in other communities across the state and inviting representatives from various economic development organizations to update the board on their activities.
In other business, Jason Perry, GOED Executive Director, and Michael Nelson, Director of Corporate Recruiting, made a brief presentation on policy and procedural changes under consideration at GOED. The plans call for a procedure to allow the incentive sub-committee and the board as a whole to receive more detail and have additional time to review any company applying for an incentive.
The new procedure will allow the board to ask questions and give staff time to complete a comprehensive financial and economic analysis on each company considered for an incentive.