It was founded in 1987 by Fred Lampropoulos, who often recounts his family sleeping in a car when they first moved to Salt Lake City. Today, the company has a sprawling South Jordan campus and employs about 2,000 Utahns. It’s engaged in the community, supporting youth programs and homeless services.
On its current trajectory, Merit could be on track to generate $1 billion in revenues next year.
So why does it look like state taxpayers are going to end up giving the company more than $56 million in subsidies?
Well, according to documents obtained through an open-records request, Merit has threatened policymakers that, if it doesn’t get the incentive, it will scrap plans for a $500 million expansion and move its operation to Ireland or Tijuana.