SALT LAKE CITY, Utah—Intermountain Electronics, Inc., will make an estimated $12.5 million capital investment over the next 15 years to expand its operations in Utah, the Utah Governor’s Office of Economic Development (GOED) and Carbon County reported in August. The expansion is expected to create up to 289 jobs and $21.5 million in new state revenue.
“It’s exciting to see Intermountain Electronics expand its operations in Carbon County,” said Utah Governor Gary Herbert in a statement. “One of my administration’s most important economic goals is to create 25,000 jobs in rural parts of our state, and expansions like this one go a long way in creating valuable jobs and opportunities. I wish Intermountain Electronics and the Houston family the very best of luck as they move forward on this project.”
Intermountain Electronics, Inc. (http://www.intermountainelectronics.com/) designs and manufactures custom power distribution equipment for industrial customers. The company initially serviced the coal mining industry in Carbon and Emery counties. Since 2010, Intermountain Electronics has diversified by adding customers in the oil and gas, utility, renewable energy and data center sectors.
“We have deep roots in Carbon and Emery counties and are excited to proceed with this expansion in Price,” said Phil Blackburn, CEO at Intermountain Electronics. “While we have other facilities outside of Utah that we considered for this expansion, the strong interest and collaboration from officials at both the county and state level helped us become comfortable with proceeding here. We have other challenges ahead — including growing our local staff. The support from both Carbon and Emery counties and the state of Utah gave us confidence that we have strong local partners to address these challenges going forward. We thank them for their efforts.”
The total wages for the new jobs in aggregate are required by statute to exceed 110 percent of the average county wage. Projected new state wages over the life of the agreement may be up to $251,564,824, which includes wages, salaries, bonuses, and other taxable compensation. Projected new state revenues, as a result of corporate payroll and sales tax, are estimated to be $21,582,270 over the next 15 years.
“This is a regional win for Carbon and Emery counties,” said Theresa Foxley, president and CEO of the Economic Development Corporation of Utah. “Intermountain Electronics weighed expansion options in neighboring states, but the counties, Utah State University, and the local school districts demonstrated the resources and commitment to workforce development that the company appreciated.”