Facebook Twitter

Finance program aids Utah firms

SHARE Finance program aids Utah firms

Small issue industrial revenue bonds issued by state government and earmarked to create jobs or expand manufacturing or processing facilities are available to Utah businesses, according to officials of U.S. Bank.

The industrial revenue bonds provide a way for private companies to access the tax-exempt borrowing market. Last year, Utah authorized $18 million of this type of financing.Daw Inc., a company manufacturing exterior finish panels for commercial buildings, borrowed $3.6 million under the bond program to build a new 115,000-square-foot building in Draper as part of an overall expansion plan.

Orbit Irrigation, a sprinkler system company, purchased and renovated a 150,000-square-foot building in Bountiful that enabled the company to consolidate its operation from three sites into one.