Thursday, May 20, 2010

Petersen Inc., Janicki Industries receive incentives from Utah economic board

A pair of companies will add jobs in Utah after receiving economic development incentives Thursday from the Governor's Office of Economic Development Board. While the job-creation levels are relatively small by GOED incentive standards, the approvals allow Petersen Inc. and Janicki Industries Inc. to expand into or further increase their involvement in prominent industries. The board approved a five-year tax credit of up to $344,209 for Petersen, a steel fabrication and machining company, to expand manufacturing operations in Farr West, Weber County.
The company will add 53 jobs over the next two years as it begins to manufacture fuel assemblies that contain fuel rods and build canisters to store spent nuclear fuel for out-of-state nuclear facilities. Petersen has a combined 420 employees in a 580,000-square-foot facility in Ogden and a 204,000-square-foot facility in Pocatello, Idaho.

The Janicki incentive is in the form of a 10-year tax credit of up to $316,275. The company, based in Sedro-Woolley, Wash., will establish a new $19.5 million composites manufacturing facility in Utah — board documents mention Layton — to support the F-35 joint strike fighter program. In 2001, Lockheed Martin was selected as the F-35 program's prime contractor, and Janicki has been awarded contracts in the F-35's development phase since 2002. The new facility will employ about 50 people working to help Janicki fulfill its contractual obligations to Alliant Techsystems and Hitco Carbon Composites.