Salt Lake City – ENVE Composites will open their newest facility in Ogden, Utah, bringing 324 new jobs to the State over the next seven years. These jobs will pay wages at a minimum of 125 percent of the Weber County average wage, including benefits. Over the seven year life of the project, ENVE will pay over $63 million in new wages. During the same time period, the company will pay $5.3 million in new taxes.
“Utah’s Outdoor Products and Recreation industry cluster is rapidly growing. We are happy to welcome ENVE Composites’ new facility to our Utah business community,” Governor Gary R. Herbert said. “ENVE’s forward thinking mindset and unique company skillset will be a positive addition to our State’s economy.”
“ENVE is committed to U.S. manufacturing,” CEO Sarah Lehman said. “The State’s support will make on-shoring jobs from Asia and our expansion possible.”
“This important incentive offered to ENVE by GOED is a tangible demonstration of our state’s commitment to expanding Utah businesses. ENVE’S decision to expand within Ogden’s Outdoor Recreation Cluster was based on their thorough evaluation of all regional and international expansion options; we’re extremely pleased that Ogden won. ENVE is an important business partner to Ogden,” said Mike Caldwell, Mayor of Ogden.
In support of ENVE’s job creation and $20 million capital investment, the Utah Governor’s Office of Economic Development (GOED) Board of Directors has approved an Economic Development Tax Increment Finance (EDTIF) post-performance refundable tax credit of up to $1,336,424, or 25 percent of new state tax revenues collected from the company over the incentive’s lifetime.