Terms Used In Utah Code 63N-2-104.1

• business entity: includes a nonprofit entity. See Utah Code 63N-2-103
• Development zone: means an economic development zone created under Section 63N-2-104. See Utah Code 63N-2-103
• High paying job: means a newly created full-time employee position where the aggregate average annual gross wage of the employment position, not including health care or other paid or unpaid benefits, is:
       (8)(a) at least 110% of the average wage of the county in which the employment position exists; or
       (8)(b) for an employment position related to a project described in Chapter 2, Part 1, Economic Development Tax Increment Financing, and that is located within the boundary of a county of the third, fourth, fifth, or sixth class, or located within a municipality in a county of the second class and where the municipality has a population of 10,000 or less:

            (8)(b)(i) at least 100% of the average wage of the county in which the employment position exists; or

            (8)(b)(ii) an amount determined by rule made by the office in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, if the office determines the project is in a county experiencing economic distress. See Utah Code 63N-1a-102
• Incremental job: includes a full-time employment position where the employee is hired:
            (9)(b)(i) directly by a business entity; or
            (9)(b)(ii) by a professional employer organization, as defined in Section 31A-40-102, on behalf of a business entity. See Utah Code 63N-1a-102
• New commercial project: means an economic development opportunity that:
       (5)(a) involves a targeted industry;
       (5)(b) is located within:

            (5)(b)(i) a county of the third, fourth, fifth, or sixth class; or

            (5)(b)(ii) a municipality that has a population of 10,000 or less and the municipality is located within a county of the second class; or
       (5)(c) involves an economic development opportunity that the commission determines to be eligible for a tax credit under this part. See Utah Code 63N-2-103
• Person: means :
       (24)(a) an individual;
       (24)(b) an association;
       (24)(c) an institution;
       (24)(d) a corporation;
       (24)(e) a company;
       (24)(f) a trust;
       (24)(g) a limited liability company;
       (24)(h) a partnership;
       (24)(i) a political subdivision;
       (24)(j) a government office, department, division, bureau, or other body of government; and
       (24)(k) any other organization or entity. See Utah Code 68-3-12.5
• Remote work opportunity: means a new commercial project that:
       (6)(a) does not require a physical office in the state where employees associated with the new commercial project are required to work; and
       (6)(b) requires employees associated with the new commercial project to:

            (6)(b)(i) work remotely from a location within the state; and

            (6)(b)(ii) maintain residency in the state. See Utah Code 63N-2-103
• Significant capital investment: means an investment in capital or fixed assets, which may include real property, personal property, and other fixtures related to a new commercial project that represents an expansion of existing operations in the state or that increases the business entity's existing workforce in the state. See Utah Code 63N-2-103
• State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
• Tax credit: means an economic development tax credit created by Section Utah Code 63N-2-103