Fact fund-016
What the state and counties have offered or given (as of 29 Sept 2026): a REDTIF post-performance refundable tax credit of up to $106,737,499 over 10 years, approved 9 July 2026 and not yet earned (fund-017, csite-024); use of the state-owned San Rafael lab and its shared facilities, terms not public (fund-015, gov-011); Emery County's direct sale of the 112.7-acre lab-side parcel at its appraised $394,500, without competitive bidding (gov-022); that parcel's placement in an Inland Port tax zone, whose status the county and the port authority record differently (gov-018, gov-023); and the Trust Lands 50-year Carbon County lease (480 acres at first, up to 640) with a purchase option, approved 17 Sept 2026 (mine-011, csite-004); no tax incentive for the Carbon campus was found (csite-029). No state or county cash grant to Valar was found in the board, county and legislative records read (state vendor-payment data on Transparent Utah was not searched; open question). What Valar pays or has promised to pay public bodies: $394,500 for the Emery parcel (gov-022); a $400,000 bonus plus rent of $30 an acre a year rising to $625 by year 8 on the Carbon lease, which staff estimated at about $35 million over 50 years (mine-011); a $20,000 outside-district water connection approved for Valar by a local district (loc-015, loc-017); and the proposed $20 million supercritical-CO2 test heater it would fund and hand to the state lab, of which only a $400,000 design phase was approved (gov-014). The known one-time amounts come to about $815,000 ($394,500 + $400,000 + $20,000); first-year rent on 480 acres at $30 an acre would be about $14,400. Utah's Legislature separately spent public money on the lab before Valar came (fund-015). What Valar pays in taxes was not found in public records; the tax credit application projects $213,474,999 of new state revenue over 10 years (fund-017), a projection in the application, not revenue earned.
- GOED Public Board Materials, July 9, 2026: GOED Board Executive Summary, Valar Atomics Inc. (Board of the Governor's Office of Economic Development (Utah Public Notice Website), 2026-07-09) primary government “Incentives are site specific and subject to local incentive participation.”
In tabs: funding, government, local, carbon_site · file funding