LAVERKIN — Vitalpax Inc. plans to create new jobs and invest in rural southern Utah after receiving a post-performance tax credit in April.
The Governor’s Office of Economic Opportunity has granted Vitalpax Inc. a marginal, temporary tax reduction under the Legislature’s Economic Development Tax Increment Funding Program, according to a recent Press release.
“Utah does not provide upfront money for business retention and recruitment,” the statement said. “Instead, the state offers a post-performance tax credit once the business has met specific obligations, including capital investment, new high-paying jobs, and tax payments. state supplements.”
Vitalpax can receive up to 30% of additional state taxes it will pay, qualifying for a portion of the total tax credit each year it meets the criteria set out in its 10-year agreement with the state. through funding the Tax Increment for Rural Economic Development Tax Credit, according to the release.
Vitalpax CEO and founder Dalyon Ruesch said the tax credit will save the company funds that will be used to purchase production equipment, which will increase revenue. The company will devote additional income to the creation of new jobs.
Residents of southern Utah can expect Vitalpax to create up to 40 new high-paying jobs over the next 10 years under its agreement with the state, the statement said. Among them are manufacturing, laboratory and warehouse jobs, Ruesch said. The company offers its employees health benefits, paid time off, and a 401(K).
Vitalpax also partners with local universities to provide internship opportunities, he said.
Additionally, Vitalpax will invest $5 million in rural Utah through infrastructure improvements, such as the repurposing of existing buildings. The company has a preliminary goal of building a 50,000 to 70,000 square foot facility, which will allow Vitalpax to put on “the right dog and pony show for customers,” Ruesch said.
Vitalpax also plans to invest in artificial intelligence-based automation, Ruesch said.
“We have automated equipment, but AI will be the way of the future when it comes to production facilities,” he said.
The potential expansion has at least one economic official excited.
“We are delighted to see Vitalpax continue to grow in La Verkin, Utah,” Dan Hemmert, executive director of the Office of Economic Opportunity, said in the press release. “The company’s dedication to its local community was evident throughout our discussions, and we want Vitalpax continued success.”
Vitalpax was founded in 2014 and makes dietary supplements and personal care products that are sold to other companies, Ruesch said. According to Vitalpax websitethe company will print, package and ship the products under its full service contracts.
Vitalpax’s vision is to advance vitality and promote health and wellness, Ruesch said. While seeking inspiration and guidance, Ruesch read her great-grandmother Mattie Woodbury Ruesch’s autobiography, part of which focused on her health issues.
In a chapter titled “My Quest for Health”, he said she wrote about vital fruits and vegetables, which helped him come up with the company name: “vital” for his great-grand- mother and “pax” for packaging.
A picture of her great-grandmother hangs in the hall with her creed framed below.
“Serve. Grow. Seek everywhere beauty, goodness and truth,” reads the beginning of the creed.
Ruesch said the company is focused on the well-being of its co-workers, customers and community, adding that employees are referred to as co-workers as part of the company culture to promote a more equal environment.
Vitalpax works with Talent Ready Utah Adopt-a-School Programthrough the Governor’s Office of Economic Opportunity to create a service-based partnership with La Verkin Elementary, Ruesch said, adding that while the partnership agreement is still ongoing, it’s an exciting way for the company to serve its community.
Ruesch said it’s easy to be prejudiced about southern Utah, given the benefits of living, recreating and owning a business in what is “arguably America’s playground.” “.
“I couldn’t think of, you know, doing it any other way,” he said. “You know, there are so many opportunities. There are challenges – absolutely – but if it was easy, it might not be as exciting.
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