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Fact csite-024

newrecordconfirmed Utah approved up to $106.7M in tax credits for Valar in July 2026 (Emery County); the public agenda did not name it
2026-07-09 · csite-024 · Governor's Office of Economic Opportunity, Valar Atomics, Emery County · maximum REDTIF post-performance tax credit, 10 years: $106,737,499; projected capital investment (Emery County): $1,299,110,000

The Board of the Governor's Office of Economic Development approved, by unanimous consent on 9 July 2026, a REDTIF post-performance refundable tax credit for Valar Atomics Inc. of up to $106,737,499: 50% of new state tax revenue for 10 years, with projected capital investment of $1,299,110,000, 275 jobs at an average wage of $137,567, in Emery County. The credit is paid only after new revenue is receipted, is 'site specific and subject to local incentive participation', and needs a local incentive approved by the GOED Incentives Committee. The notice and agenda, posted 7 July, described the item only as a company in 'the energy and advanced manufacturing industry' (the same agenda named the three companies up for economic development zones); the board materials naming Valar were attached to the notice at 1:00 p.m. on 9 July, after the meeting, which was scheduled for 10 a.m. to noon. Utah's records law lets agencies protect records that would reveal incentive negotiations if disclosure would cause the company economic harm (63G-2-305(35)), and the July 9 minutes carry that label. Per the minutes, Valar's representatives spoke of a 'waterless data center in Orangeville' and plans 'to install additional commercial units in the area', and an Emery County commissioner spoke in support. No state incentive record for the Carbon County campus was found.

In plain termsThe state approved giving Valar back up to about $107 million in state taxes over ten years, paid only out of new state tax revenue and tied to job and wage targets; the board materials project a $1.3 billion investment and 275 jobs in Emery County. Per the minutes, Valar's representatives spoke of a data center in Orangeville and more commercial units in the area. Before the vote, the public agenda said only that an energy company was up for approval; the documents naming Valar were posted after the meeting. State law allows incentive talks to be kept confidential in some cases. The Carbon County campus is not part of this incentive.
verified 2026-09-29: Holds, with one addition. Re-read 2026-09-29: July 9 notice (posted 2026-07-07 15:18; attachments: agenda and June minutes added 7 July, board materials added 9 July 13:00, audio 13:05); agenda docx (no company named for incentives); board materials pp. 1-3; July 9 minutes (docx headed 'Incentive Committee Meeting Minutes' and 'PROTECTED BY 63G-2-305(35)', attached to the Sept 10 notice); Utah Code 63G-2-305(35). Unsourced expansion of 'REDTIF' removed. Named individuals other than officials are Valar staff speaking publicly for the company. Correction 2026-09-30 (source objectivity review): reworded the plain-language text.

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