From Deseret News archives:
Jet-maker is expanding in Ogden: Adam Aircraft is expected to add 1,255 jobs by '09
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The company has about 850 employees, including 50 in Ogden and about 35 in Pueblo, Colo., where tail boom assembly for both aircraft takes place.
When fully operating, the Ogden site could be producing three A500s and 10 to 15 A700s per month. "That's our target," Simi said.
"We feel very strongly about Utah, and we will prepare to ramp that up," she said. "We're excited. We need the space because it (the certification) is going to happen."
The state board action Friday during a meeting in Price involves replacing an incentive granted in 2004. That earlier incentive could have totaled more than $34.8 million and was geared to the company bringing in up to 500 jobs.
The new deal, for the 1,255 new jobs, is a tax rebate projected at up to $35.26 million. The company must remain in Utah for 15 years and pay at least 25 percent above the Weber County median wage. The projected wages are expected to average $32,479, which is 32 percent above the county median, board documents show.
Details about the jobs will be posted at www.adamaircraft.com.
The projected new state wages are $303.8 million over 10 years and $576 million over 15 years. Projected new state tax revenue is $57 million over a decade and $118.6 million over 15 years.
The Ogden Redevelopment Agency has committed an estimated $1.2 million in tax increments over 14 years.
E-mail: bwallace@desnews.com
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