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Varian Medical Systems Groundbreaking on Facility Expansion Triggers Influx of New Jobs to Salt Lake
Date:8/27/2014

stament to the confidence its leaders have in Utah’s business climate and is indicative of the growth and success Varian is experiencing in the medical device industry. Varian’s capital investment and planned expansion will have a positive impact on Utah’s tax base and employment outlook. I look forward to many more years of a successful partnership between Varian and our state.”

The effort to expand Varian’s presence in Salt Lake City began in January of this year through a partnership with the Governor’s Office of Economic Development (GOED). The GOED Board of Directors has approved a tax credit of some $7.1 million in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) incentive, in anticipation of receiving more than $35 million from Varian in new state tax revenues over the fifteen year life of the agreement. Each year as Varian meets the criteria in its contracts with the state, it will earn a portion of the tax credit.

“With Utah’s job growth at its highest since the recession, Varian Medical Systems could not have chosen a better time or place for its expansion. Among Utah’s life science sector more than 150 are medical device companies and Varian will add to this vibrant community,” said Val Hale, Executive Director of the Governor’s Office of Economic Development. “Our office has enjoyed the opportunity to work with Varian Medical Systems, and we look forward to continuing that relationship as they grow and in turn help Utah grow.”

Currently, Varian employs 860 people in Utah. The expansion effort will add 135,000 square feet to the existing 341,000 square foot building and is expected to generate more than $400 million in new state wages.

“We are thrilled to see Varian take this step towards their expansion in Utah,” said Jeff Edwards, president and CEO of Economic Development Corporation of Utah. “It is extremely rewarding to see such a high-quality company grow and expand in our state, rei
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