Adobe Expanding Facility in Utah

08.05.2010 by Elizabeth Ziegler

(KCPW News) Adobe will expand its Orem-based facility, with the potential to create 1,000 new jobs in Utah by 2012. Governor Gary Herbert made the announcement at the Capitol this morning. He praised the state’s economic development team for putting together a competitive tax incentive package, which helped convince the Fortune-500 company to expand its footprint in Utah.

“As you think of one company and the impact that they’re going to have on putting tax revenues into the government coffers, without having to raise taxes because of economic growth and expansion, that’s the way you fund education,
Herbert said. “That’s the way you fund government services. Grow the economy and expand the economic pie, which produces additional revenues.”

Adobe will receive a $40 million tax break over the next 20 years for agreeing to stay in Utah. But the company is expected to generate more than $1.6 billion in new wages and $134 million in new state revenue over that same period.

Mark Garrett, executive vice president and Chief Financial Officer for Adobe, said the incentive helped, but the company was already considering expanding in Utah, primarily because of its higher education system.

“The university system in Utah was a big draw for us,” Garrett said. “Probably one of the primary draws for us is the talent of the people here today, but more importantly the talent of the people we will recruit over the coming years.”

Adobe also plans to build a new campus either in Salt Lake or Utah counties by 2012. Garrett said the company is currently considering several “attractive options” both counties are offering.