"You can put a lot of numbers on property, but the people are what really matters," he said.
Family Dollar plans to break ground on its 800,000-square-foot facility in the F. Pierce Industrial Park in St. George this summer and expects to begin operations in mid-2013.
The state's $4.3 million incentive to Family Dollar will be handed out incrementally in the form of a tax credit over the next 20 years and is contingent upon the company adding the promised 450 jobs to the Utah economy in that time period.
Family Dollar said it expects to hire close to 350 employees within the first few years and intends to begin the process in spring 2013 in preparation for the facility's opening.
The new jobs will all include full health and retirement benefits.
Utah Gov. Gary Herbert said in a statement that Family Dollar's decision to expand in Washington County further enhances the state's reputation as a premier logistics and distribution center.
The first Family Dollar store was opened in 1959. For its 2011 fiscal year that ended August 31, 2011, the company recorded revenue of $8.5 billion and net income of $388 million.
Who • Family Dollar Stores Inc. receives a $4.3 million incentive from the state
For what • An $80 million, 800,000-square-foot warehouse-distribution facility
Where • St. George
Expected opening • Spring 2013
Number of employees • 450 hired over a 20-year-period