Tuesday , March 18, 2014 - 3:41 PM
OGDEN — ENVE Composites, Inc., which makes high-end carbon fiber composite products for the cycling industry, announced today it is bringing manufacturing of its products from China to Utah and hiring 324 new workers.
Michael Sullivan, from the Governor’s Office of Economic Development, said the company will expands its manufacturing facility in Business Deport Ogden using tax incentives based on the number of jobs it brings and the wage it pays.
"These jobs will pay wages at a minimum of 125 percent of the Weber County average wage, including benefits," Sullivan said. "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."
Sullivan said that means the company agrees to pay at least $43,452 a year in wages for the new jobs.
ENVE Composites, Inc. manufactures wheels, forks, seat posts, handlebars and stems along with composite tubes for custom bicycle frame builders. Because of ENVE’s patented technology, they produce 100 percent of their bicycle rims in the United States and are known for the highest strength- to-weight ratio on the market.
Sullivan said the company has seven years to complete its expansion and decide whether to build or lease a new building, but said the company started hiring for the new jobs today.
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