The Utah Governor’s Office of Economic Opportunity (GOEO) board recently approved tax incentives for three companies — Momentous, Stryker, and Usurance — to support job creation and business investment in Salt Lake and Summit counties.
Together, the projects are expected to create 1,709 high-paying jobs and generate more than $676.3 million in new investment over the next 20 years.
These incentives are offered through the state’s Economic Development Tax Increment Financing (EDTIF) and Rural Economic Development Tax Increment Financing (REDTIF) programs, which provide performance-based tax credits issued after companies meet job creation and investment goals.
“These companies represent the kind of growth we want to see in Utah — innovative, high-impact, and rooted in long-term value,” said Jefferson Moss, executive director of GOEO. “Whether it’s advancing medical technology, building a next-generation insurance platform, or expanding performance products for athletes, each is creating good jobs and strengthening Utah’s economy in meaningful ways.”
- Momentous, a Utah-based company headquartered in Park City, develops performance and recovery supplements. Its expansion in Summit County is projected to add 240 jobs and $10.6 million in investment as it deepens its role in the state’s outdoor and wellness economy.
- Stryker, a global leader in medical technology, continues to grow its Salt Lake County operations. After first expanding in Utah with state support in 2017, the company now plans to add 862 jobs and invest more than $615 million in expanded manufacturing, R&D, and product development.
- Usurance, Utah’s first AI-powered insurance company launching in Salt Lake City, offers coverage in high-demand sectors such as aircraft, product liability, logistics, and intellectual property. The company is expected to create 607 jobs and invest more than $50 million as it builds out its operations in Utah.