Vexxel Composites, LLC, a firm that produces natural gas vessels, plans $4 million in capital improvements toward its manufacture of compressed natural gas tanks in Brigham City, Utah, creating 101 jobs.
Located in Box Elder County, north of Ogden, Utah, Vexxel Composites manufactures composite overwrapped pressure vessels used in CNG vehicles. Located at 1080 North Main St. in Brigham City, the firm also produces pressure vessels for the US military and other commercial applications.
"We are excited for this opportunity for many reasons. Firstly, the US 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," said Vexxel CEO and president Wayne Clark.
The Governor's Office of Economic Development said it supported the natural gas company's goal with a tax incentive that will assist in creating 101 high-paying jobs. The Governor's Office of Economic Development provided a Tax Increment Financing post-performance refundable tax credit of $337,577, or 20 percent of new state revenues, over the project's 5-year lifetime.
Vexxel Composites seized an opportunity to further its heritage of innovative composite manufacturing to fill critical needs in the nation's accelerated natural gas industry, said Gov. Gary R. Herbert. "The Utah workforce continues to prove it has the entrepreneurial skill and technical expertise to develop solutions for some of our most pressing questions."
"The expansion of Vexxel's manufacturing capabilities build on the company's already extensive military and civilian client base, and brings deserved attention to the economic vitality of Utah's northern region," said Spencer Eccles, executive director of GOED. "The talented workforce and renowned quality of life found in Brigham City and Box Elder County continue to capture the attention of world class firms, both homegrown and companies new to the state."
"Vexxel is a great success story of experienced R&D professionals in northern Utah coming together to develop a very sophisticated technology," says Jeff Edwards, president and Chief Executive Officer of Economic Development Corporation of Utah. "Vexxel's expansion is a testament to the workforce and technology savvy environment in Utah that can create state of the art ideas and bring them to fruition thereby creating jobs."