Alliant Techsystems is considering Utah as the site for a commercial aircraft composites manufacturing facility that would mean more than 840 new jobs over 20 years.
The Governor's Office of Economic Development Board on Thursday approved a $32.7 million tax credit over 20 years to entice the company to select Utah.
GOED board documents indicate the company will decide on the project location by February, with development to full production to occur over five to seven years.
The facility would be for ATK Aerospace Structures and would represent a $250 million capital investment in equipment and tooling, board documents show. The new jobs would pay 75 percent above the Davis County average wage. Total wages would be more than $1.6 billion over 20 years, and the state would receive new tax revenue of more than $109 million during that same period.
Jerry Oldroyd, chairman of the GOED board's incentives committee, said Utah is facing competition from several states, including Mississippi, Maryland, North Carolina and South Carolina. An ATK representative said the company is "taking into account" multiple states.
The GOED-approved incentive may be offset by a legislative appropriation for the project, GOED officials said.
ATK's Aerospace Structures Division is based in Clearfield, with manufacturing in Clearfield; Dayton, Ohio; and Iuka, Miss. It also manages programs in a composites fabrication facility in Rocket Center, W.Va., and has satellite offices in Logan; Hopkinton, Mass.; Lafayette, Colo.; and Rancho Bernardo, Calif.
Minnesota-based Alliant Techsystems, also known as ATK, has more than 5,800 employees in Utah. It has more than 17,000 employees total in 21 states.