Enve Composites have announced it will invest $20 million on a new manufacturing facility in Ogden, Utah.
The company manufactures carbon fibre composite tubes for custom bike frame builders along with composite wheels, forks, seat posts, handlebars and stems all in the United States.
ENVE will open their newest facility in Ogden, Utah, bringing 324 new jobs to the State over the next seven years. As an incentive in support of ENVE’s job creation and $20 million capital investment, the Utah Governor’s Office of Economic Development Board of Directors has approved an Economic Development Tax Increment Finance post-performance refundable tax credit of up to $1,336,424, or 25 percent of new state tax revenues collected from the company over the incentive’s lifetime.
GOED executive director Spencer Eccles said;
With the expansion of ENVE’s facility in Utah, we will continue to maintain our reputation of producing some of the best goods in the nation, we are also happy to work with ENVE to keep high-paying jobs from going overseas.