$4M Incentive Package Lands $32M Insulation Plant in Nephi

None by Lara Jones

99 Jobs Will Pay Above Median Wages

(KCPW News) The Governor's Office of Economic Development (GOED) and the city of Nephi have put together a $4 million incentive package to help a Florida-based manufacturer of commercial and residential insulation build a $32 million plant in Juab County. Jerry Oldroyd, chairman of GOED's Industrial Incentives Subcommittee, says it's worth the investment to bring well-paying jobs to the rural community:

"They will be hiring 99 employees at about 145 percent of the county median wage," Oldroyd says.

FiberTEK Insulation LLC will need production line workers, skilled maintenance personnel, degreed process engineers, electrical engineers, accountants, and managers. On average, employees will earn more than $35,000 annually, as well as paid health care and matching 401K retirement plans. Nephi Mayor Mark Jones says FiberTEK increases job options in an agricultural area rapidly morphing into a Wasatch Front bedroom community:

"[It will] provide the ability for some of our children who would like to stay locally but have not been able to find a job to be able to stay locally and work here locally, rather than either have to commute for that work or move to another location."

Slated to open in late 2008, FiberTEK's 300,000 square foot plant in Nephi will serve customers in the western United States.

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