Minova to open a new manufacturing facility in Tooele County

Kaitlyn ClarkeNews, Tax Credits

Today, the Utah Governor’s Office of Economic Opportunity awarded Minova a post-performance tax reduction for its expansion in Tooele County. The corporate incentive is part of the state’s Rural Economic Development Tax Increment Financing (REDTIF) program.

As part of the agreement, Minova projects to add 58 new, high-paying jobs and invest $24,500,000 in rural Utah during the next five years.

“Utah is a state abundant in natural resources that consistently requires safe and efficient infrastructure,” said Ryan Starks, executive director of the Governor’s Office of Economic Opportunity. “Utah will significantly benefit from Minova’s industry expertise, and we look forward to seeing it strengthen our engineering and manufacturing workforce.”

Minova is an industry leader in ground support and geotechnical solutions for mining, tunneling, and surface ground engineering projects. It is known for high-quality products, technical expertise, and customer problem-solving. The company has a long heritage and a 140-year track record of developing and delivering innovative ground support solutions. Minova proactively develops and nurtures partnerships that deliver value and support customers, securing their safety, performance, and efficiency.

With manufacturing plants across five continents and operations in more than 25 countries, Minova offers customers a full portfolio of solutions consisting of a comprehensive range of bolting systems, injection chemicals, grouts, resin capsules, sprayable membranes, coatings, and services. 

Ryan Kerr, CEO of Minova, expressed his enthusiasm about the customer-centric approach, stating, “Minova has always been driven by a commitment to meeting our customers’ unique challenges. The construction of this state-of-the-art facility is a tangible demonstration of our dedication to being close to our customers, understanding their needs, and delivering solutions that meet and exceed their expectations.” 

Luke Colton, CFO of Minova, highlighted the long-term aspect of the expansion, stating, “This strategic investment not only demonstrates our commitment to technological advancement but also reflects our confidence in the long-term growth and sustainability of Minova. The new facility will serve as a hub for creative solutions, allowing us to work closely with our customers, address their unique challenges, and collectively shape the future of ground support solutions.”

“In Utah and Tooele, Minova found strong community partners and a skilled, available workforce,” said Scott Cuthbertson, president and CEO of EDCUtah. “We’re pleased to see Minova’s investment in Tooele City.”

“Tooele City is thrilled that Minova has chosen to locate at the Peterson Industrial Depot — a growing center for industrial activity, local job growth, and value for our taxpayers,” said Mayor Winn at Tooele City. “We take pride in welcoming Minova to do business in our community.”

Tax Credit Projections

Timeline:5 years
New state tax revenue:$1,493,484
REDTIF new state tax credit:20%

Learn more about the state’s post-performance REDTIF program here.