Fox Factory Holding Corp. Announces Its Planned Automotive Ride Dynamics Center of Excellence

Josh Burns / February 12, 2015

SCOTTS VALLEY, Calif. — Fox Factory Holding Corp. (Nasdaq:FOXF) (“FOX”) today announced plans to expand its El Cajon, CA facility to create an Automotive Ride Dynamics Center of Excellence. A California Competes Tax Credit awarded in January 2015 will aid the expansion effort.

The California Governor’s Office of Business and Economic Development has awarded FOX 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 will use the credit to help expand its El Cajon, CA facility into an ISO9001 certified, Automotive Ride Dynamics Center of Excellence (ARDCoE). Its 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’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.”

About Fox Factory Holding Corp. (Nasdaq:FOXF)
Headquartered in Scotts Valley, CA, FOX 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. For more than three decades, FOX’s team of enthusiasts and professional athletes has been improving vehicle performance through a unique commitment to redefining ride dynamics.