KIHOMAC, Inc. is expanding its manufacturing operations in Layton, according to a September 10 report. The Utah Governor’s Office of Economic Development (GOED) has awarded the company a post-performance tax reduction for this expansion in Davis County through the state's Economic Development Tax Increment Financing (EDTIF) program.
Under the terms of the agreement, KIHOMAC projects it will add 177 new, high-paying jobs and invest more than $36 million in Utah over a seven-year period. GOED Commissioner Jefferson Moss stated that the company's growth in Davis County supports the state's commitment to high-tech manufacturing and the aerospace and defense sector.
Adam Grimm, president and COO of KIHOMAC, said the expansion will allow the company to grow its engineering and advanced manufacturing capabilities. Grimm noted that Utah provides a highly skilled workforce and a business environment that supports continued investment.
The projected economic impact of the investment includes $84,789,477 in new wages and $5,722,371 in new state tax revenue. The EDTIF post-performance tax incentive is set at 27%.
Founded in 2003, KIHOMAC is a veteran-owned aerospace and defense company. The firm provides engineering, advanced manufacturing, reverse engineering, sustainment, and lifecycle support solutions for government and commercial customers.
