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Salt Lake City — The Governor’s Office of Economic Development (GOED) announced today that Utah-based, HireVue, will expand its operations in the Salt Lake County after forming an incentive agreement with the state.
“HireVue’s digital interview platform is a great example of Utah’s IT sector continuing to find ways to use innovative technology to improve business,” said Gov. Gary Herbert.
Over the seven year life of the agreement with the state, HireVue is expected to create 540 new jobs and pay more than $172,876,212 in new state wages.
All of the jobs will pay at least 125 percent of the county’s average annual wage including benefits. HireVue will pay approximately $10,090,489 in new state taxes during the term of the agreement and will invest over $30,000,000 in capital expansion.
“HireVue has an almost decade-long track record of equipping companies of all sizes to hire and expand their workforces utilizing our digital interviewing platform,” said Mark Newman, CEO of HireVue.
HireVue employs about 100 people in engineering, support, customer success, sales and marketing. “We are very pleased that HireVue is moving forward with their expansion plans in Utah,” says Jeff Edwards, president and CEO of Economic Development Corporation of Utah. “It is extremely rewarding to see a quality Utah-based company grow and expand in our state, reinforcing our belief that Utah has a unique combination of assets that allows businesses, specifically in the IT sector, to flourish.”
The GOED Board of Directors approved a $1,513,573 Economic Development Tax Increment Finance (EDTIF) post-performance refundable tax credit, which the company can earn over the seven years of the agreement. The tax credit is calculated on a base rate of 15 percent of the net taxes collected from the company annually.