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US' Hexcel setting up Centre of Excellence for composites in Utah

19
May '21
Pic: The Utah Governor
Pic: The Utah Governor's Office of Economic Development
Hexcel Corporation, a global advanced composites technology leader, is setting up a flagship Centre of Excellence for Research and Technology (R and T) to support next-generation developments in advanced composites technologies in Utah. This will lead to addition of up to 150 new high-paying jobs in the next 12 years, and develop Utah’s workforce.

“We welcome Hexcel as it expands in Utah,” said Dan Hemmert, executive director, 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 programme 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 fibre, woven reinforcements, resins, prepregs, honeycomb, and additive manufactured parts for customers in commercial aerospace, space and defence, and industrial markets. This new R and T centre will be the company’s largest centre 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 fibre manufacturing facility in the world. The site also is home to the company’s US 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 and 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 defence, and industrial applications.”

Hexcel may earn up to 25 per cent of the new state taxes it will pay over the 12-year life of the agreement in the form of a Utah Legislature-authorised Economic Development Tax Increment Finance (EDTIF) tax credit. The GOED Board has approved a post-performance tax credit not to exceed $1,531,318

The GOED board also approved an Industrial Assistance Fund Economic Opportunity Grant for up to $200,000 for infrastructure-related expenses. The grant will provide infrastructure support for the Hexcel site and help create better access to the area.

“Hexcel has been a long-time contributor to West Valley City’s economy and a reason why Utah is regarded as a marquee location for advanced manufacturing and composites,” said Theresa A Foxley, president and CEO of the Economic Development Corporation of Utah. “We’re thrilled with the company’s continued investment in our state.”

Fibre2Fashion News Desk (SV)

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