Salt Lake City —Today, the Utah Inland Port Authority (UIPA) announced its approval of an incentive to support AeroVironment (AV), a leader in autonomous and intelligent multi-domain systems, as it expands operations in Salt Lake County.
This incentive, stackable with one approved by the Governor’s Office of Economic Opportunity (GOEO), will facilitate AV’s $42,250,000 million investment and the creation of more than 500 new high-paying jobs in Utah over the next five years.
“AeroVironment’s autonomous precision-strike systems have revolutionized modern warfare, providing warfighters with the ability to neutralize high-value threats with unprecedented accuracy while minimizing risk to friendly forces,” said Wahid Nawabi, AV chairman, president, and chief executive officer. “This facility represents a critical step in our mission to expand manufacturing capacity, ensuring our forces have the technological superiority needed to deter and, if necessary, decisively defeat adversaries.”
The UIPA incentive, approved by the UIPA board on January 6, 2025, allows a maximum of 10 percent of AV’s property tax liability to be rebated over 25 years. This post-performance rebate is part of UIPA’s efforts to support targeted industries within project areas. By incentivizing investments like these, UIPA aims to promote economic growth while fostering significant investments in public infrastructure.
The collaboration among UIPA, GOEO, Salt Lake City, EDCUtah, and CBRE has been instrumental in advancing this project.
“We’re thrilled to welcome AV to Salt Lake City,” said Scott Cuthbertson, president of EDCUtah. “As a leading defense tech company, AV’s expansion will not only bring high-quality jobs to the region but will also further solidify Salt Lake City’s position as a premier hub for cutting-edge industries. We look forward to the long-term contributions they will make to our economy and community.”
GOEO awarded AV a post-performance tax reduction under the Economic Development Tax Increment Financing (EDTIF) program.
“This expansion highlights Utah’s ability to attract and retain top-tier companies in the aerospace and defense sectors,” said Ryan Starks, executive director of the Governor’s Office of Economic Opportunity. “By supporting investments like AV’s, we continue to drive economic development and job creation while advancing critical industry innovations.”
Businesses eligible for incentives in UIPA project areas must align with targeted industries identified by local governments and meet capital expenditure thresholds.
“This project exemplifies the power of collaboration in driving economic growth,” said Ben Hart, executive director of UIPA. “AV’s expansion in Utah strengthens our advanced manufacturing sector, creating high-quality jobs and reinforcing the state’s role as a leader in innovation and logistics.”
ABOUT UIPA: As a state entity, UIPA has a unique role to coordinate a statewide economic development and logistics system to ensure long-term sustainability and statewide value. To learn more about UIPA project areas, developments and its members, visit inlandportauthority.utah.gov.
ABOUT AEROVIRONMENT (AV) AV (NASDAQ: AVAV) is a global leader in intelligent multi-domain robotic systems, uncrewed aircraft and ground systems, sensors, software analytics and connectivity. Headquartered in Arlington, Virginia, AV delivers actionable intelligence so our customers can proceed with certainty. For more information, visit www.avinc.com.