The Utah Governor’s Office of Economic Opportunity (GOEO) awarded medtech company Stryker a post-performance tax reduction for its expansion in Salt Lake County. The corporate incentive is part of the state’s Economic Development Tax Increment Financing (EDTIF) program.
Under the agreement, Stryker projects it will add 862 new jobs and invest more than $615 million in Utah during the next 20 years.
Since expanding its presence at the Salt Lake City site with GOEO’s support in 2017, Stryker has created hundreds of jobs.
“Life sciences are a critical engine for Utah’s economy and the health of our communities,” said Jefferson Moss, executive director of GOEO. “Stryker’s expansion reflects the depth of talent in our state and the strength of an industry that creates high-paying jobs while advancing technologies that improve care for people across the world.”
“We are proud to have been part of Salt Lake City for almost 25 years,” said Jim Marucci, president of Stryker’s Neurovascular division. “By expanding our presence in Utah, we’re supporting the creation of more jobs and driving innovation that improves patient outcomes in the U.S. and around the world. We’re pleased to continue our partnership with the Utah Governor’s Office of Economic Opportunity, which has been instrumental in supporting our growth and impact here.”
“Stryker’s expansion is a win for Salt Lake City families and our local economy,” said Lorena Riffo Jenson, director of Salt Lake City’s Department of Economic Development. “These new jobs will provide meaningful opportunities for residents while reinforcing our city’s role as a hub for life-saving innovation. We’re proud to support growth that strengthens our communities and improves lives right here at home and around the world.”
