Fox Factory Holding Corp. announced plans to expand its El Cajon, CA facility to create an Automotive Ride Dynamics Center of Excellence using a California Competes Tax Credit awarded in January.
The California Governor's Office of Business and Economic Development has awarded Fox Factory with a California Competes Tax Credit Allocation of $1.7 million to be spread over the next four years and subject to certain in-state growth requirements. Fox Factory will use the credit to help expand its El Cajon, CA facility into an ISO9001 certified, Automotive Ride Dynamics Center of Excellence (ARDCoE). The ARDCoE campus will be designed from the ground up to support its current military and automotive business-such as its direct bolt-on suspension upgrades for on-road trucks with off-road capabilities-and with the ability to efficiently support future growth and demand.
“GO-Biz is proud to support FOX as they enter the next phase of their ongoing expansion in California with a California Competes tax credit. Innovative companies like Fox are leading the way and contributing to the growth of California's nation-leading manufacturing industry,” stated Kish Rajan, Director of the Governor's Office of Business and Economic Development.
“We are delighted that the California Governor's Office of Business and Economic Development supports Fox's commitment to keeping jobs in California,” stated Larry L. Enterline, Fox Factory's Chief Executive Officer. “The California Competes Tax Credit Allocation award will enable us to create a world-class, ISO9001 certified campus to efficiently support our automotive related business now and into the future.”
Fox Factory designs and manufactures high-performance ride dynamics products primarily for bicycles, side-by-side vehicles, on-road and off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles. The company began shifting production of its bicycle products to Taiwan three years ago to be closer to OEM customers.
