SALT LAKE CITY — MSC Aerospace and subsidiaries Metalcraft Technologies and SyberJet Aircraft announced on Thursday plans to expand their current Cedar City facilities to create more manufacturing capabilities throughout a 20-year agreement with Utah.
Over the lifetime of the agreement, the company expects to pay more than $1 billion in new state wages to create 1,200 incented jobs, meaning the company will receive tax breaks from the state.
MSC and its subsidiaries have pledged to invest millions into the project and will pay an estimated $127 million in new state tax revenue over the 20-year life of the project, according to the Governor's Office of Economic Development.
Metalcraft Technologies manufactures aircraft parts and aero-structures. The company’s customers are proprietary aircraft producers that include Boeing, Bombardier’s Learjet, General Electric, Gulfstream, Lockheed, Northrop Grumman, SyberJet and Vought.
SyberJet Aircraft produces the world’s fastest and longest range seven-seat light business jet — the SyberJet SJ30. The SJ30 is single-pilot, FAA-certified jet with a top speed of Mach 0.83 or 560 mph, with a 2,500 nautical mile range.
Utah’s aerospace and defense economic cluster represents about 4.5 percent of all state wages, and the average wage in this industry is roughly 90 percent higher than Utah’s average annual wage.
“MSC is excited to continue its long-standing relationships with Cedar City, Iron County and the state of Utah," said MSC Chairman David Grant. "We are proud of our track record of success in the aerospace industry and hope for a bright future in southern Utah.”
— Jasen Lee
- ‘My Story Matters’ gives refugees...
- Fire forces evacuation of 185 Pine Valley homes
- Young Magna girl struggles to find her voice
- BLM investigating 18 burro deaths after roundup
- Two more charged in fatal 'robbery gone bad'
- State administrative services department boss...
- Utahns compete, succeed on 'American Ninja...
- Video: How to choose the right helmet for...
- Immigration ruling called hurtful, a... 75
- Nearly 70 percent of Utahns say Donald... 62
- Love won't go to GOP national convention 28
- ACLU sues the state over inadequate... 26
- Utah GOP brings up father's bank... 25
- U. stadium gets bigger scoreboard,... 25
- Rio Grande neighborhood 'more unsafe... 21
- Will 'Brexit' vote help Trump in Utah? 19