Aerospace company, Apogee Worx will expand its Ogden location
Salt Lake City — 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,” says 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 Defense (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,” says 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 percent 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 Apogee Worx 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,” says 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
Timeline: 8 years
Capital investment: $6.5 million
Projected news state tax revenue: $5,416,249
EDTIF new state taxes: 15%
EDTIF amount: $812,437
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 percent 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.
About the Utah Governor’s Office of Economic Opportunity
Under Gov. Spencer J. Cox’s direction, the Utah Governor’s Office of Economic Opportunity (Go Utah) provides resources and support for business creation, growth, and recruitment. It also drives increased tourism, film production, outdoor recreation, and mixed martial arts in Utah. Utilizing state resources and private sector contracts, the office administers programs in economic areas that demonstrate the highest potential for development and the most opportunity for Utahns. Learn more at business.utah.gov or by calling (801) 538-8680.
About Apogee Worx, LLC
Apogee Worx LLC (AW) is an Ogden, Utah-based Service Disabled Veteran Owned Small Business (SDVOSB) focused on the sustainment of legacy Department of Defense (DoD) aerospace weapons systems. AW’s core focus areas revolve around design and engineering services, logistics, manufacturing, installations and test support. AW is a Prime DoD contractor as well as a key supplier to several Top Tier DoD Prime Contractors. AW has also established extensive relationships with the aerospace manufacturing industrial base here in Utah. Learn more at apogeeworx.com.