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dōTERRA, a company that makes aromatic compounds, has announced plans to expand operations in Utah after entering a 10-year incentive agreement with the state. Over that time, the company is expected to pay roughly $83 million in new state tax revenue and invest $60 million in capital investment.
“Although only a few years old, dōTERRA has already brought many jobs to Utah County,” said Governor Gary Herbert. “This agreement with the state will help the company create even more jobs and tax revenue in Utah County’s fast growing economy.”
The GOED Board of Directors has approved a post-performance Economic Development Tax Increment Financing refundable tax credit (EDTIF) of $16,655,814, or 20 percent of the new state revenue paid by the company over the 10 year life of the agreement. The company plans to bring 330 new full time jobs to its new headquarters in Pleasant Grove, expected to pay $136.4 million in new state wages, at least 125 percent of Utah County’s average annual wage, including benefits.
dōTERRA’s essential oils are some of the purest essential oils available worldwide. Their products are all carefully extracted and tested by skilled growers, distillers, and chemists and contain no artificial ingredients.
“Due to the growing number of people looking to complement their healthcare in natural ways, it is critical that dōTERRA invest in new facilities to meet the demand,” said president and CEO of dōTERRA David Stirling. “The new facilities will allow for scientific testing and analysis, product development, information technology, marketing, product distribution and customer support.
dōTERRA CEO David Stirling said that the company’s new corporate headquarters will provide a workplace for its rapidly expanding Utah-based workforce.
“We know from experience that Utah County attracts a highly skilled, educated workforce and we are pleased the city of Pleasant Grove will be the center of our global operations for years to come.”