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Project Megalopolis: Merit Medical to Expand in Utah

$505 million CAPEX

1,071 jobs

Megalopolis

November 6, 2018

The Governor’s Office of Economic Development (GOED) and the Economic Development Corporation of Utah (EDCUtah) today announced that Merit Medical Systems, Inc. will expand in Utah, adding up to 1,010 jobs, $71 million in state revenue, and an estimated $505 million in capital investment.

“Merit is a homegrown company that has responsible growth, great tech and demonstrated success. This internationally known company is saving lives, and we could not be more proud to have them call Utah home,” said Val Hale, executive director of GOED.

Merit Medical is a leading manufacturer and marketer of disposable medical devices used in intervention, diagnostic and therapeutic medical procedures. The company offers products in cardiac, intervention, peripheral intervention, interventional oncology and spine, cardiovascular, and critical care and endoscopy. The company has manufacturing and research and development facilities in seven countries around the world with their worldwide headquarters located in South Jordan.

“We are appreciative that the State of Utah has chosen to invest in us as a homegrown company dedicated to improving the lives of patients and building long-term opportunities for our children and grandchildren,” said Fred P. Lampropoulos, Merit Medical chairman and CEO. “We are hiring students from our state’s great institutions of higher education as engineers, mathematicians, statisticians, marketing and business professionals.We are committed to growing our business with local talent in all areas.”

“Utah-grown Merit Medical just keeps growing,” said Theresa A. Foxley, president and CEO of EDCUtah. “We can’t wait to see the company go after its ambitious goals and solidify its leadership in the medtech space.”

Merit Medical may earn up to 25 percent of the new state taxes they will pay over the 15-year life of the agreement in the form of a post-performance Economic Development Increment Finance (EDTIF) tax credit rebate.

Jake Berlin, business development manager, led Project Megalopolis for EDCUtah.

For more information on this or other projects, contact Colby Cooley, at 801-323-4250, ccooley@edcutah.org.

Investors: If you were involved in this project and would like to add your organization to this announcement, please email connect@edcutah.org

 

Colby Cooley

Vice President of Business Development

ccooley@edcutah.org
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