Investing in Utah
Utah Named #1 Jurisdiction in the World for Mining
Frasier Institute
Utah hosts 40 of the 50 U.S. Critical Minerals
Utah Geological Survey
State Incentives for Mining
Mineral Exploration Tax Credit
Allows operators to claim a tax credit against severance tax liability for the cost of certain mineral exploration activities.
High-Cost Infrastructure Tax Credit
Available to businesses whose Utah-based projects meet the following requirements:
• Expand or create new industrial, mining, manufacturing, or agricultural activity
• Are composed of at least 10 percent (or $10,000,000) of infrastructure costs
• Generate new state revenues that are directly attributable to new infrastructure investment
Qualifying projects are eligible to receive a nonrefundable tax credit of 30 percent of qualifying infrastructure-related state revenue generated annually, up to 50 percent of the cost of the infrastructure investment.
Rural Economic Development Tax Increment Financing
Eligible companies can receive a refund of up to 50% of the new state taxes they paid for up to 20 years. The contract with the state is post-performance.
Utah Inland Port Authority Project Areas
Located throughout the entire state of Utah, UIPA project areas are vibrant and strategically planned zones, created to be a catalysts for economic growth and innovation.
They are places where businesses can tap into rich ecosystems of resources, infrastructure, and support, offered by the Utah Inland Port Authority and their surrounding communities.
By choosing a UIPA project area to start or advance your business, you’re aligning with a forward-thinking community, committed to driving progress and hungry for success.