Clarus Corporation to add 147 jobs as part of Utah expansion
The Governor's Office of Economic Development announced Clarus Corporation, parent company of Black Diamond Equipment, will expand in Utah over the next eight years, adding up to 147 high-paying jobs, $8.9M in new state revenue and $40M in capital investment. Clarus Corporation will create up to 147 jobs over the next eight years. The total wages in aggregate are required to exceed 110% of the Salt Lake County average wage. The projected new state wages over the life of the agreement are expected to be approximately $91,067,138. Projected new state tax revenues, as a result of corporate, payroll and sales taxes, are estimated to be $8,936,826.9 over eight years. Clarus Corporation may earn up to 20% of the new state taxes they will pay over the eight-year life of the agreement in the form of a post-performance Economic Development Tax Increment Finance tax credit rebate. As part of the contract with Clarus Corporation, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $1.8M. Each year as Clarus Corporation meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.