Italian Manufacturer Selects Utah for New Facility - Global Trade Magazine
  November 24th, 2015 | Written by

Italian Manufacturer Selects Utah for New Facility

Sharelines

  • The state of Utah, and Ogden in particular, is becoming a great area for outdoor industry.
  • Selle Royal group may earn up to 20 percent of new state taxes in the form of a tax credit rebate.
  • Selle Royal group has been approved a post-performance tax credit rebate not to exceed $272,103 by the state of Utah.

Italy’s Selle Royal S.p.A. has selected Ogden, Utah as the site of a new manufacturing facility.

Founded in Pozzoleone, Italy in 1956, the Selle Royal group specializes in the production of bicycle parts, particularly bicycle saddles and footwear, marketed under the Fizik and Brooks brand names.

“Our group is made of product-driven brands,” said Gaspare Licata, general manager of Selle Royal North America. “We have the ambition with this investment to be able to develop the greatest products in the bicycle industry.”

 The state of Utah, and Ogden in particular, “is becoming a great area for outdoor industry, and we think we can attract great talent here,” he said, adding that the new facility will create up to 65 jobs over the next seven years.

The Selle Royal group employs more than 1,000 people worldwide, distributing in more than 70 countries and has an established market position in the U.S.

The company acquired California-based Crank Brothers in 2008, expanding its product base to mountain bike parts like pedals, wheels, tools and pumps, and, most recently, established Selle Royal USA Inc. in Illinois as its North American distribution arm.

According to the Utah Governor’s Office of Economic Development, the Selle Royal group “may earn up to 20 percent of the new state taxes they will pay over the seven-year life of the agreement in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) tax credit rebate.”

As part of the contract with Selle Royal group, the state agency has approved a post-performance tax credit rebate not to exceed $272,103. Each year as Selle Royal group meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.