State officials on Thursday announced tax incentives for two separate company expansions that will result in new jobs in Davis and Weber counties.
The Governor's Office of Economic Development Board said both companies will create high-paying positions -- more than 100 jobs in all -- in exchange for performance-based tax credits.
In Davis County, Janicki Industries, of Sedro-Woolley, Wash., will establish a precision composites manufacturing facility to support production of the F-35 Joint Strike Fighter, the next generation of fighter jets.
It's likely Janicki will start a new composites facility in the Layton area, but a final Utah site has not been announced by the company, state officials said.
Part of the state deal is a tax incentive tied to the creation of more than 50 jobs in two years.
"Our strategic alliance with Lockheed Martin, ATK and Hitco Composites encouraged us to consider locating in Utah," John Janicki, president of Janicki Industries, wrote in a GOED statement on the expansion.
The company expects to make a $19.5 million capital investment in the Utah plant,
The GOED board authorized a post-performance refundable tax credit up to $316,275 over 10 years. During the life of the incentive, GOED officials estimate the company will pay more than $1.5 million in new state tax revenue.
In Weber County, Petersen Inc., will expand its manufacturing operations in Farr West.
The custom steel fabrication and machining company will add 53 full-time employees over the next several years, state officials said.
The company supplies fuel and fuel waste components to the nuclear industry and will be manufacturing components for out-of-state nuclear facilities.
"We remain committed to enhance the quality of life for our customers, team members and suppliers while continuing to grow Petersen," Rob Despain, vice president of business development of Petersen Inc., wrote in a news release about the project.
Petersen's expansion plans include more than $2.5 million in capital improvements to its facility.
The company said it currently employs 420 people and has a 580,000-square-foot facility in Ogden.
GOED officials said Petersen's manufacturing operation qualifies for a post-performance refundable tax credit of up to $344,209 over five years.
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