VALAR WATCH
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Fact gov-033

newrecordconfirmed $106.7M state tax credit: Valar told the board it plans 'additional commercial units' and 'behind the meter' power sales
2026-07-09 · gov-033 · Governor's Office of Economic Opportunity (GOED) Board, Valar Atomics, Emery County Commission, Jordan Leonard, Harry Hansen, Cory Gardner · maximum REDTIF post-performance refundable tax credit approved for Valar (10 years): $106,737,499; projected capital investment in the Valar incentive application (Emery County): $1,299,110,000

Re-reading the GOED board's 9 July 2026 materials and minutes (csite-024 has the incentive terms): the executive summary describes a $1,299,110,000 Emery County project with 275 jobs averaging $137,567, and says the up-to-$106,737,499 REDTIF credit (half of new state tax revenue for 10 years, paid only after the revenue comes in) is 'site specific and subject to local incentive participation', with a local incentive proposal needing GOED Incentives Committee approval. Per the minutes, Valar's Harry Hansen cited the NVIDIA chip demonstration and 'a waterless data center in Orangeville'; Valar's Cory Gardner said Valar plans 'to install additional commercial units in the area', that the fastest path to turning reactors on is selling power 'behind the meter' to avoid interconnection queues, that its near-term strategy is 'behind-the-meter customers willing to pay a premium', and that no one has yet sold power from an advanced reactor in America. The minutes list Emery County Commissioner Jordan Leonard among the visitors under 'Valar Atomics' (they do not say why) and record him speaking in support. Set beside the record: three months earlier, at the county's 7 April hearing, the answer recorded to 'what incentives has the county given you?' was 'None', with a commissioner adding Valar had 'not even asked' for a tax incentive (gov-022); no local incentive for Valar appears on the Emery County Commission's or its Community Reinvestment Agency's agendas through September 2026 (Utah Public Notice Website scan, 29 Sept 2026); and DOE's legal basis for authorizing Ward 250 without the NRC is that pilot reactors do not produce commercial electric power (safe-030, gov-007), so sold power from 'commercial units' would need NRC licensing (csite-010).

In plain termsUtah's economic development board approved up to $106.7 million in future tax rebates for Valar, based on a $1.3 billion, 275-job plan in Emery County, far larger than the one-year test first described. To collect, Valar must actually create the jobs and pay the taxes, and a local incentive must also be approved; none has been found yet. At that meeting Valar spoke of more 'commercial units' and selling power directly to paying customers. Selling power is exactly what the federal shortcut does not cover, so those units would need a license from the NRC.
verified 2026-09-29: Re-read the GOED 9 July 2026 materials and minutes and the Emery 7 April minutes 2026-09-29; quotes and figures exact; a scan of 527 saved Emery notices found no Valar incentive item. Holds.

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