Hexcel To Build New Center of Excellence for Advanced Composites
Hexcel Corporation will build a flagship Center of Excellence for Research & Technology (R&T) to support next-generation developments in advanced composites technologies in Utah, adding up to 150 new high-paying jobs in the next 12 years.
“We welcome Hexcel as it expands in Utah,” said Dan Hemmert, executive director of Utah Governor’s Office of Economic Development (GOED) . “Their decision to grow here will create many high-paying jobs for Utahns in skilled science and advanced technology. Hexcel also has an excellent training program that will serve to develop Utah’s workforce further and help its employees develop the skills they need to succeed.”
Hexcel is a global advanced composites technology leader, manufacturing carbon fiber, woven reinforcements, resins, prepregs, honeycomb, and additive manufactured parts for customers in commercial aerospace, space and defense, and industrial markets. This new R&T center will be the company’s largest center for innovation and product development in North America and a showcase for the company’s advanced composites technology, providing space for future growth and expansion in the years ahead. The company’s existing operations in West Valley City include its largest high-performance carbon fiber manufacturing facility in the world. The site also is home to the company’s U.S. aerospace matrix operations. About 600 people currently work at the site.
“We’re grateful for the support that Utah continues to provide to Hexcel, and we’re excited to announce this investment in innovation today to ensure our continued leadership tomorrow,” said Nick Stanage, Hexcel chairman, CEO & president. “This new site will provide much-needed room to expand our research, to broaden our portfolio, and to offer our customers an enhanced opportunity to collaborate with us on the latest composite technology developments for aerospace, space and defense, and industrial applications.”
Hexcel may earn up to 25% of the new state taxes it will pay over the 12-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. The GOED Board has approved a post-performance tax credit not to exceed $1,531,318. Each year that Hexcel meets the criteria in its contract with the state, it will earn a portion of the total tax credit.
