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Composites Reach New HeightsAugust 08 2013 - 3:22 pm
For Immediate Release
August 8, 2013
George Torres, ATK Communications
GOED Communications Director
Composites Reach New Heights
ATK Aerospace expansion will create more Utah jobs
Salt Lake City, UTAH — ATK Aerospace Structures is a pioneer in the adoption of composites for the aerospace industry and has helped Utah stake its claim as a national composites leader. The Governor’s Office of Economic Development (GOED) and ATK announced today an additional expansion of their Clearfield-based offices.
“Utah is considered the composites epicenter of the country. This title has been earned through the hard work of Utah companies like ATK,” Christopher M. Conabee Managing Director at the Governor’s Office of Economic Development said. “This expansion by ATK will help Utah continue to lead the aerospace and composites industries.”
Three years ago, ATK announced an expansion of 802 new high-paying jobs over a 20-year agreement with the state. Today GOED and ATK announced that a modification to the original incentive has been approved and an additional 200 jobs will be added, totaling 1,002 new jobs in a 20-year period. All of the additional jobs will pay at least 160 percent of Davis County’s average annual wage, including benefits.
Over the lifetime of the agreement, ATK will pay approximately $214 million in new state wages for the additional employees and $8 million in new state taxes.
“Utah’s superior workforce allows ATK to drive affordable innovation and execution excellence in developing highly engineered products,” said Joy de Lisser, vice president and general manager of ATK Aerospace Structures division. “ATK is proud of the composite center of excellence we have built in Utah and values our continuing relationship with the state and the Governor’s Office of Economic Development.”
ATK Aerospace Structures is a world leader of composite structures for the aerospace and defense industry. ATK composites are manufactured and developed mainly in Utah and are a lightweight and reliable resource when manufacturing the most advanced aerospace projects in the world.
The GOED Board of Directors has approved a restructuring of the original post-performance EDTIF incentive for ATK of $19,307,734, representing 27.18 percent of new state wages over 20 years. The restructured post-performance incentive approved an Industrial Assistance Fund (IAF) grant representing $2,500 per employee for up to 665 employees to partially offset training, retention, program delays and construction of facilities. The total restructured incentive will now be $21,307,734 and will not exceed 30 percent of new state revenue over the same 20-year period as the original incentive.
About the Utah Governor’s Office of Economic Development (GOED)
The Governor’s Office of Economic Development (GOED) charter is based on Governor Gary Herbert’s commitment to economic development statewide. Utah’s economic development vision is that Utah will lead the nation as the best performing economy and be recognized as a premier global business destination. The mandate for this office is to provide rich business resources for the creation, growth and recruitment of companies to Utah and to increase tourism and film production in the state. GOED accomplishes this mission through the administration of programs that are based around targeted industries or “economic clusters” that demonstrate the best potential for development. GOED utilizes state resources and private sector contracts to fulfill its mission.
ATK is an aerospace, defense, and commercial products company with operations in 21 states, Puerto Rico, and internationally. News and information can be found on the Internet at www.atk.com, on Facebook at www.facebook.com/atk, or on Twitter @ATK.