BRIGHAM CITY -- A company that builds pressurized natural gas tanks is adding 101 jobs to its facility in Brigham City.
Vexxel Composites, a sister company to HyPerComp Engineering, is expanding its local operation and hiring new workers.
The company makes composite overwrapped pressure vessels used in vehicles that operate on compressed natural gas, a rapidly growing segment of the auto industry. The vessels also have military applications.
A spokesman said Thursday afternoon that the company has been interviewing job applicants for the past six months, many of them people who were laid off by ATK Space Systems.
"We are excited for this opportunity for many reasons," Vexxel CEO and President Wayne Clark said in a news release. "Firstly, the U.S. has an abundance of natural gas. Converting vehicles to CNG will reduce our dependence on foreign oil.
"Secondly, CNG is a clean-burning fuel, thereby reducing vehicular emissions. And thirdly, we will be bringing high-paying manufacturing jobs to Brigham City."
Michael Sullivan, spokesman for the Governor's Office of Economic Development, said Vexxel will receive tax increment financing in the form of a refundable tax credit of $337,577, or 20 percent of the new state revenues that will be generated over five years by the jobs the company will bring in.
In order to qualify for the tax rebate, the company had to agree to pay wages that are 125 percent of Box Elder County's average wages, including benefits.
Sullivan said the company will pay out $21,082,477 in expected wages over the next five years, which will mean $1,687,884 in new state revenue.