IRON COUNTY – Cedar City and Iron County recently received approval from the Governor’s Office of Economic Development to establish a Recycling Market Development Zone.

In 1996, the Utah Legislature created the Utah Recycling Market Development Zone Program which focuses on recycling as an economic development tool.

The zone legislation was established to encourage businesses to use recycled materials in their manufacturing processes and create new products for sale. It also benefits business or individuals that collect, process or distribute recycled materials.

Eligible businesses located in designated areas qualify for a 5 percent Utah State income tax credit on the cost of machinery and equipment, a 20 percent Utah State income tax credit on eligible operating expenses and technical assistance from state recycling economic development professionals.

Brennan Wood, Economic Development director, said this action is important for two reasons. First, recycling is an important way for individuals and businesses to reduce the waste they generate and reduce the negative impact on our community and environment. Recycling will have a direct effect on Iron County residents by extending the life capacity of the landfills.

Second, such a designation gives the region a competitive advantage and allows the Office of Economic Development to offer an additional incentive for companies looking to relocation or expand in Iron County.

For more information contact the Office of Economic Development at 865-5115.