Friday, August 24, 2012

Xactware breaks ground on Lehi building

Called the opening momentum for approximately 2 million square feet of future business park -- the largest in Utah -- Xactware celebrated its ceremonial ground breaking with gusto on Thursday in north Lehi.

"A lot of people don't realize that this 210,000-square-foot project is the catalyst for 2 million square feet from here to the Outlet Mall at Traverse Mountain," said Brandon Fugal, Coldwell Banker executive vice president.

Set on the south face of Traverse Mountain, the site looks out over Utah Valley. Big D Construction is contracted to complete the environmentally certified project by February 2014. The environmentally friendly building will be located two miles from Thanksgiving Point's FrontRunner station and a stone's throw from the Murdock Canal Trail system.

The company will spend $130 million on the new facility and infrastructure, according to The Governor's Office of Economic Development. Over the life of a 20-year tax incentive agreement the company made with the state, the company will create 859 new full-time positions with full benefits, pay more than $756 million in new state wages and pay $129 million in new Utah tax revenue. As the company completes this expansion, over the years, it will qualify for a maximum post-performance tax credit of up to $32,262,990 over the life of the agreement. Daily Herald