Armada Skis to relocate headquarters to Summit County
December 11, 2014
Armada Skis, Inc., a retailer of skiing gear, is moving its headquarters to Summit County, the company and the Governor’s Office of Economic Development (GOED) announced in a press release Thursday.
"Armada is excited about relocating to Utah," said Erik Snyder, CEO of Armada Skis, in the release. "We would like to thank EDCUtah (Economic Development Corporation of Utah), GOED and the Summit County Council for their support in our planned relocation. The combination of Utah’s business environment and abundance of world-class skiing make Summit County the ideal home for Armada’s future."
The headquarters will house a research and development center, a warehouse and distribution center and a showroom. According to Jeff Jones, Summit County Economic Development Director, a former car dealership near 2700 Rasmussen Road is one of the locations being considered.
"In Utah we greatly value the outdoor industry and believe it will be an important source of future growth for the state as companies like Armada Skis choose to locate here," said Val Hale, executive director of GOED. "We feel fortunate to open our arms and welcome Armada Skis to our family of outdoor products companies."
Armada Skis, which was founded in 2002 and is currently headquartered in Costa Mesa, Calif., expects the move to create 56 jobs in Summit County over the next eight years, according to the release. Projected state tax revenues due to the relocation are in excess of $1.7 million.
"Armada’s decision to move to Utah is a huge benefit to our state’s outdoor products industry," said Jeff Edwards, president and CEO of the Economic Development Corporation of Utah, in the release. "For a ski company like Armada, the big draw to Utah is our climate: both our great environmental climate and our strong business climate."
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The Governor’s Office of Economic Development and Armada Skis signed an eight-year contract approving tax incentives for the company for meeting certain criteria, according to the release. The details of the criteria were not available. The credit maximum is $354,919, which is equivalent to 20 percent of the amount of the state taxes the company will pay over the life of the contract.
Jones said Summit County did not offer tax breaks but "has committed to some possible planning and building permit fee waivers as part of the local contribution." He added that the county is developing a targeted incentive policy for not just Armada Skis but other companies that may come in the future, as well.