Monday, December 17, 2012

Cedar City Council OKs tax incentive for manufacturing Company

The Cedar City Council on Wednesday approved a 10-year tax increment incentive program for GAF, the largest roofing materials manufacturing company in North America. The incentive will refund to GAF any increase in taxes over the next 10 years as long as GAF adheres to its end of the bargain, including maintaining at least 25 employees who are paid at least 125 percent of the Iron County’s average wage. At the request of GAF, the city council altered the original plan by allowing GAF to count benefits — including 401K matching programs and health care costs — as part of the wages. The Spectrum