UT: Esurance to Invest $15M to Open New Office, Creating 700 Jobs
18 Oct, 2013
The Governor’s Office of Economic Development (GOED) and Esurance announced that the company will open a new office in Weber County, creating 700 new high-paying Utah jobs.
“Utah is an economic leader and premier destination for growing businesses,” Governor Gary R. Herbert said. “This expansion by Esurance speaks to Utah’s commitment to create a stable, business-friendly environment and Esurance will undoubtedly benefit from Utah’s talented workforce and top-notch quality of life.”
Over the 20-year life of the agreement with the state, the company will pay out $610 million dollars in new state wages. All of the incented jobs will pay at least 125 percent of Weber County’s average annual wage including benefits.
During that same time period Esurance will pay $23 million in new state taxes and will invest $15 million in capital expansion at the Utah-based office.
“Weber County has a talented workforce that will help us to continue to provide a seamless experience for Esurance customers as we expand our business,” said Esurance President and CEO Gary Tolman. “We look forward to growing with Weber County and helping local residents build rewarding careers with Esurance.”
Esurance, a subsidiary of Allstate, sells insurance to consumers online and over the phone, and employs nearly 3,000 associates nationwide. The company was founded in 1999, and combines a pioneering approach to car insurance and an award-winning website with useful online tools and excellent customer service that make the insurance process easier from quote to claim.
“The impact of Esurance’s announcement to open an office in Utah is significant,” says Jeff Edwards, President and CEO of the Economic Development Corporation of Utah. “In addition to bringing quality jobs to the State, the company’s expansion will energize the insurance and financial sector, helping us recruit additional companies in the future.”
Weber County residents interested in working for one of the most dynamic companies in the insurance industry should go to http://www.esurance.com/about/jobs and join Esurance’s talent network to apply for jobs and stay informed about upcoming Esurance career fairs.
The GOED Board of Directors has approved a maximum of $5,803,572 in an Economic Development Tax Increment Finance (EDTIF) post-performance refundable tax credit which the company can earn, or 25 percent of the net taxes paid by the company over the lifetime of the incentive.
About the Utah Governor’s Office of Economic Development (GOED) Web: www.business.utah.gov
The Governor’s Office of Economic Development (GOED) charter is based on Governor Gary Herbert’s commitment to economic development statewide. Utah’s economic development vision is that Utah will lead the nation as the best performing economy and be recognized as a premier global business destination. The mandate for this office is to provide rich business resources for the creation, growth and recruitment of companies to Utah and to increase tourism and film production in the state. GOED accomplishes this mission through the administration of programs that are based around targeted industries or “economic clusters” that demonstrate the best potential for development. GOED utilizes state resources and private sector contracts to fulfill its mission.