Deseret News, Thursday, April 15, 2010 5:03 p.m. MDT
WEST JORDAN — Without an incentive from the state and another from this growing city and Jordan School District, the Fairchild Manufacturing facility would move its plant and the 473 jobs that go with it to Bucheon, South Korea.
But in a deal in the works since last fall, the semiconductor facility will stay put and add 65 new production and engineering positions over the next few years at a cost of about $52.8 million. In exchange, the company will receive up to $1.2 million in property tax breaks from West Jordan, Jordan School District and other taxing entities, such as the local mosquito abatement district and the Salt Lake County library system. The money will come from increased property tax receipts as the value of the building increases over the next 10 years.
The full-time jobs will come with full benefits packages and are expected to pay 127 percent of the median county wage, according to an analysis by redevelopment specialist Bob Springmeyer.
The terms were approved unanimously Wednesday night by the West Jordan City Council, acting as the city redevelopment agency. The board members created an economic development area for the project.
"Everyone working together allows this to happen," said John Hall, vice president of the global company. "We have a safe, highly skilled work force (in Utah). Fairchild loves Utah and loves being in Salt Lake. We hope to be here for a long time."
Fairchild also is getting about $2.5 million from the state as an incentive to stay put and retool its facility to make larger parts. The $2.5 million in state money was conditional upon West Jordan's creation of the economic development area, according to staff reports.
To hear an audio recording of Wednesday's meeting or to read Springmeyer's report, visit wjordan.com.