Utah has awarded up to $69 million in future tax breaks to a Logan company that plans to produce batteries for flying cars and other aerospace applications.
State grants Logan’s Electric Power Systems up to $69 million in tax breaks for employing 3,100 in new factory.
CEO Nathan Millecam said EPS has more experience than anyone in designing battery systems capable of powering aircraft, including small, car-size craft. “We call them electric vertical takeoff and landing vehicles.” board that granted the tax incentive Thursday. “… This is the most advanced battery manufacturing in the world.”
“We are also building our own electric aircraft and will have a first flight hopefully this year, and that is being built at our facility in Logan,” she added.The grant from thecame from the Rural Economic Development Tax Incentive Financing program and was approved by the Go Utah board appointed by the governor. Like all state tax incentives, it is a “post-performance” grant. No funds are fronted to the company.
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