The Utah Governor’s Office of Economic Opportunity (GOEO) awarded Integrated Rail and Resources, Inc. (IRRX) a post-performance tax reduction for its expansion in Uintah County. The corporate incentive is part of the state’s Rural Economic Development Tax Increment Financing (REDTIF) program.
Under the agreement, IRRX projects it will add 40 new, high-paying jobs and invest $87,475,555 in Utah during the next 6 years.
IRRX was founded in 2021 to focus on potential business combinations in the North American railroad and bulk commodity sectors. As of late 2024, it announced a business combination agreement with Tar Sands Holdings II, LLC, which owns refining and real estate assets and mineral rights.
“Strengthening our rural infrastructure is foundational to Utah’s long-term economic stability,” said Jefferson Moss, executive director of GOEO. “This investment in Uintah County reinforces the Uinta Basin’s role in driving shared prosperity across our state. By modernizing our railway and resource sectors, we are creating high-quality jobs and ensuring Utah remains a global leader in energy and logistics for generations to come.”
“The State of Utah has been an absolute pleasure to do business in,” said Mark Michel, chairman of the board of IRRX. “We chose Utah not only to establish our operations and enhance our ability to refine and market high-demand products, but because it represents a meaningful step forward in our efforts to create long-term value by supporting the Uinta Basin.”
“By leveraging critical infrastructure in northeastern Utah, we are unlocking stranded and captive resources and enabling access to new markets and opportunities that were previously unavailable due to logistical constraints. This effort is about more than infrastructure; it is about helping the Uinta Basin, and the State of Utah, reach its full potential by creating high-quality jobs and ensuring Utah’s global leadership in energy and logistics for generations to come,” added Michel.
“The Uintah County Commission is excited to welcome IRRX to the Uinta Basin,” the commission said in a statement. “This investment is a strong vote of confidence not only in Uintah County, but in Utah’s broader economic future. It will create good-paying, local jobs that directly benefit the community while supporting our goals of economic diversification and sustainable growth. What is especially exciting are the impacts that will extend beyond Uintah County — strengthening our domestic energy capabilities, local supply chains, workforce opportunities, and economic resilience across the state. We appreciate IRRX’s commitment to Northeastern Utah and their collaborative approach in working with our community.”