OREM, Utah--Aribex, a leader in handheld X-ray technologies, has qualified for up to $350,000 in financial incentives from the state of Utah for expansion of the company's manufacturing capacity.
Aribex will receive the incentive in the form of tax credits that are contingent upon the company hiring 30 more employees in the next three years. The incentives were authorized under the new Technology and Life Sciences Economic Development Act passed by the Utah Legislature in 2011, and administered by the Board of the Utah Governor’s Office of Economic Development.
“We’re honored that our home state recognizes the work that we are doing and the benefits our products bring to the health community, both domestically and internationally,” said Dr. D. Clark Turner, president and CEO of Aribex. “It also acknowledges the fact that we have the innovation, the resources, and the talent to take full advantage of the opportunities and growth ahead of us.”
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Added Richard Nelson, founder and CEO of the Utah Technology Council: “Utah’s new medical device incentive is evidence of the impact that a smaller X-ray device from Aribex can have, and how a top-innovation state like Utah can help such companies grow and thrive. We’re proud of the success that the Aribex breakthrough products are having in both the dental industry and in patient care around the world.”
The Utah Technology Council is an association representing the interests of the state’s 6,000 growing life science, IT, and clean tech companies.
For more information, visit www.aribex.com.
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