SALT LAKE CITY, Utah (BRAIN) — Black Diamond Equipment, which owns the protective gear brand POC, plans to add as many as 160 jobs and make capital investment of up to $7.7 million at its new facility in Utah.
Black Diamond released the figures in a joint announcement with the Utah Governor's Office of Economic Development.
The GOED has approved a maximum tax credit incentive of $353,247 for Black Diamond. The figure represents 15 percent of the new state taxes Black Diamond will pay over the seven-year life of the agreement. Each year as Black Diamond meets the criteria in its contract with the state, it will earn a portion of the total tax credit incentive.
"We are more than happy to support companies that are working to bring more jobs home," said Val Hale, executive director of GOED. "We are especially excited that Black Diamond has selected Utah for their re-shoring and native expansion. The outdoor recreation cluster is near and dear to our hearts in this state, and we are grateful for the contribution Black Diamond makes."
The company is relocating POC North American jobs from Aspen, Colo., to Utah.
"As the global leader in the design and manufacture of paradigm-changing products for the sports we serve, we require a location that resides on the asset side of our balance sheet. After looking elsewhere, and in working with GOED, we have decided it is in the best interest of the company, its employees, and the State of Utah, for Black Diamond to grow in Utah," said Peter Metcalf, Black Diamond's CEO and founder. "With Utah's brand-defining outdoor landscapes, Utah is clearly the best place to consolidate our global manufacturing operations and invest in bringing new jobs to the state as we re-shore operations."
