Tuesday , October 25, 2016 - 2:48 PM
LAYTON — A Virginia-based aerospace metal and composite maker is set to open up a new shop and bring some new jobs to Davis County.
Ki Ho Military Acquisition Consulting Inc. will open a new 130,000-square-foot manufacturing facility Friday near Hill Air Force Base, at 3650 N. Fairfield Road, Layton. The facility will serve as a manufacturing hub for KIHOMAC’s aerospace components and other related products.
KIHOMAC provides engineering, prototyping and manufacturing to several aerospace companies and government entities. It has contracts with the Air Force, Navy and Marine Corps. The company works regularly with Hill and produces components for planes like the A-10, the F-16 and Boeing’s 787 Dreamliner commercial airliner.
Nearly a year ago, KIHOMAC signed a memorandum of agreement with Davis County in which the county lent its tax-exempt status and credit rating to KIHOMAC so it could acquire $10 million in state industrial revenue bonds. The bond money was used to finance the construction of a new facility.
The company entered into an agreement with a third-party bank that would be responsible if KIHOMAC can’t cover the debt service on the bond.
“I am grateful for the support Layton City and Davis County gave us,” said company CEO Ki Ho Kang in a news release. “We are excited about what this facility could mean for the company and towards extending the Utah aerospace and composite manufacturing capacity and capability.”
The new facility will consolidate KIHOMAC offices in Layton, Roy and West Haven into one central location. GOED says the new expansion will create 70 new jobs over the next five years, with wages exceeding 125 percent of the Davis County average.
KIHOMAC is eligible to receive a post-performance tax credit from the state of up to $122,454 if they meet certain wage and state tax requirements.
You can reach reporter Mitch Shaw at email@example.com. Follow him on Twitter at @mitchshaw23 or like him on Facebook at Facebook.com/MitchShaw.StandardExaminer.
Sign up for e-mail news updates.