Electronic Power Systems Expands Production To Cache County, Utah
05/12/2017
“We are happy to announce our expansion plans into the state of Utah,” said Nathan Millecam, CEO of Electric Power Systems. “We are excited to tap into the state’s industrious, innovative workforce, and build a world class Energy Storage System product line that makes the world safer, cleaner, and more mobile. We’d like to thank GOED and Logan City for their work in bringing us here, and look forward to joining and contributing to these wonderful communities.”
“EP Systems’ innovative technology is a natural fit for Utah’s aerospace industry,” said Val Hale, Executive Director of GOED. “Northern Utah has positioned itself as a global leader in aerospace, and EP Systems will thrive as a member of our world-class industrial and research community.”
“We are excited to see EPS’s decision to relocate to Cache County,” said pTheresa Foxley, President & CEO of the Economic Development Corporation of Utah. “This project is a great example of Team Utah’s collaborative approach to winning projects. We appreciate our partnership with GOED, USTAR, Utah State University and community leaders and their hard work to make this project a reality.”
As an incentive, EP Systems may earn up to 20 percent of the new state taxes they will pay over the seven-year life of the agreement in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) tax credit rebate. As part of the contract with EP Systems, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $1,674,781. Each year as EP Systems meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.
“EP Systems will be a wonderful addition to the very diverse group of technology businesses that we have in Logan and Cache County,” said Logan City Mayor H. Craig Peterson. “We’re excited to witness EP Systems growth, as well as its continued, mutually-beneficial collaboration with Utah State University. We’re pleased with the influx of new jobs, but particularly the significant addition of engineering positions this project brings and what that means in terms of new opportunities for our university graduates, as well as those seeking to make their way back to Logan.”
Project Announcements
Kikkoman Foods Plans Jefferson, Wisconsin, Operations
04/26/2024
BWX Technologies Expands Cambridge, Ontario, Nuclear Production Operations
04/26/2024
Greenheck Group Plans Knoxville, Tennessee, Operations
04/26/2024
Local Bounti Plans Pasco, Washington, Indoor Agricultural Operations
04/26/2024
Innovative Construction Group Plans Siler City, North Carolina, Production Operations
04/26/2024
Crystal Window and Door Systems Plans Mansfield, Texas, Headquarters-Production Operations
04/25/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024