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 internal facility expansion will feature more than $2.5 million in capital improvements.
The incentive is based on the average base salary for the new jobs paying at least 25 percent above the Weber County average. The project is expected to produce more than $10.6 million in new state wages over five years and more than $900,000 in new state revenue during the same period.
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.
The incentive is tied to the new jobs paying 25 percent above the Davis County average wage. The facility and jobs are expected to result in more than $20.5 million in new state wages over 10 years and more than $1.5 million in new state revenue during that period. The Salt Lake Tribune
