Business Elevated Podcast (Episode 61)
This podcast series features business and government leaders discussing what it’s like to live and work in the great state of Utah. This episode includes a conversation between Dan Royal, GOED director of corporate growth and business development, and Martin Tuason, CEO of Armscor Global.
The Business Elevated podcast is also available on Apple Podcasts, Spotify and Stitcher.
Audio
Summary
Armscor, a firearms manufacturing company headquartered in the Philippines, is looking to grow its business in Utah.
Martin Tuason, CEO of Armscor, fell in love with the United States when he first came here to attend college. His passion for growing the business expanded when he built the Rock Island Armory brand. Tuason convinced his dad and the company’s board to move the company to the United States and build its first factory in Victor, Montana.
He started looking to build more factories and initially chose Nevada because the state offered low income tax and other benefits. He soon realized it was an excellent location for warehousing but not for manufacturing. Nevada lacked one thing: a trained workforce, and if he was to expand his factory, he needed people who could dive into firearms work immediately.
Tuason started to search for a new home in Tennessee, South Carolina, Florida, Texas, and other states, but none of them felt right until he looked at Utah. He immediately fell in love with the scenery, and when the coronavirus pandemic hit, he found himself driving to Utah every weekend to visit its state parks. Then, he discovered the universities and colleges in southern Utah and approached state officials about forming working relationships.
With the help of the state of Utah and his new home in Cedar City, Tuason believes he can expand his business.
To learn more about Utah’s tax credit for Armscor, click here, and visit this webpage to learn more about the state’s corporate retention and recruitment incentive program.