The Utah Governor’s Office of Economic Opportunity (Go Utah) is pleased to announce that Apogee Worx, LLC plans to expand its operations in Utah, adding up to 100 new high-paying Utah jobs in the next eight years.
“Utah’s aerospace industry is growing rapidly, and we’re excited that Apogee Worx will be adding to that growth,” said Dan Hemmert, the Office of Economic Opportunity’s executive director. “This expansion will create jobs in engineering, software, manufacturing, and more, benefiting residents in northern Utah.”
Apogee Worx is an aerospace company based in Ogden, Utah. The company focuses on Department of Defence (DoD) aircraft systems integration with multiple current contracts upgrading USAF Ogden Air Logistics Center supported aircraft, such as the A-10C. Apogee Worx designs and manufactures components necessary to install new capabilities in DoD aircraft. Additionally, the company manufactures aircraft support equipment.
“After investigating options in other states, Apogee Worx is excited to be expanding in Northern Utah near the Ogden Hinckley Airport and Hill AFB. Utah provides clear benefits including access to a talented workforce and a deep aerospace industrial base,” said Steve Pollard, Apogee Worx’s co-owner and co-founder. “We appreciate the forward-leaning incentives provided by the Governor’s Office of Economic Opportunity that make this expansion possible.”
Apogee Worx may receive up to 15% of the additional state taxes it will pay over the eight-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. The Go Utah Board has approved a post-performance tax credit not to exceed $812,437. Each year that Lumio meets the criteria in its contract with the state, it will qualify for a portion of the total tax credit.
“Apogee Worx is a vital and active player in Utah’s aerospace and defense supply chain,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “The expansion of their footprint in Northern Utah will continue to bring benefits to the region and the state.”
State of Utah Tax Credit Projections by the Numbers
|Capital investment||$6.5 million|
|Projected new state tax revenue||$5,416,249|
|EDTIF new state taxes||15%|
About Utah Corporate Incentives
The Utah Legislature has authorized economic development incentives in the form of post-performance tax credits. Eligible companies work with the Utah Governor’s Office of Economic Opportunity to outline specific performance criteria. Once the office confirms those criteria have been met, according to statute (U.C.A. 63N-2-106(2)), companies can receive a refund of up to 30% of the new state taxes they paid for up to 20 years. The contract with the state is post-performance; it only provides a state tax credit if the company meets its obligations.