UT: HireVue to Invest $30M to Expand in Salt Lake County, Create 540 New Jobs
14 Jun, 2013
Utah’s information technology sector is growing at such a rapid pace most states can’t even begin to keep up. The Governor’s Office of Economic Development (GOED) announced that Utah-based, HireVue, will expand its operations in the Salt Lake County (SLC). The company is the industry’s leading on-demand digital interviewing platform provider.
“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 Governor Gary R. Herbert. “With HireVue and other software companies expanding in the state, we continue to hear the term 'Silicon Slopes' - referring to the rapid growth of Utah's IT industry at the base of our world-renowned mountains.”
The job expansion by HireVue shows Utah’s commitment to growing the strongest IT sector in the nation. Over the seven year life of the agreement with the state, HireVue will create 540 new high-paying jobs, paying out more than $172,876,212 in new state wages.
All of the incented 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, HireVue. “We’re excited to put our solution to work on our behalf as we expand our employee base here in Salt Lake City. This partnership with the state is fueled by our record growth to date and the substantial addition of clients to our roster.”
HireVue currently employs some 100 talented people in engineering, support, customer success, sales and marketing. HireVue’s award-winning on-demand interview platform greatly reduces the time and cost it takes to find, interview, vet and hire employees, while simultaneously improving interview quality and consistency.
“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.
About the Utah Governor’s Office of Economic Development (GOED)
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 with organizations such as the Economic Development Corporation of Utah (EDCUtah), Utah Defense Alliance, the Manufacturers Extension Partnership (MEP) and others to fulfill its mission. For more information please contact: Michael Sullivan, 801-538-8811 or email@example.com. Web: www.business.utah.gov.
HireVue is an amazing new way to interview – on demand! Users simply browse, watch, rate and share the interviews they want, on their own time – just like streaming their favorite movies – even from a smart phone. Recognized by HR Executive Magazine as a Top HR Product of 2012, HireVue’s Digital Interview Platform™ also helps improve interviews of all types, including in person, phone and video interviews. Digital question, feedback and collaboration tools remove hassle and make interviewing up to ten times faster and nine times cheaper. Join HireVue customers like Ocean Spray, Nike, Dow Jones, and Walmart who are making interviewing awesome. http://www.hirevue.com