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Governor Gary R. Herbert announced today that EMC Corporation, a global information technology (IT) leader, will expand its global customer service operations by opening a new customer support center in Utah, adding 500 new jobs in the State by the end of 2015.
"The fact that a world-wide company like EMC expands operations in Utah underscores that this state continues to be among the leading IT locations anywhere," said the Governor. "Equally important is offering a skilled labor force and fertile field for business growth. We are doing all we can to grow jobs and strengthen Utah's economic outlook."
Through innovative products and services, EMC accelerates the journey to cloud computing, helping IT departments to store, manage, protect and analyze their most valuable asset - information - in a more agile, trusted and cost-efficient way. EMC employs more than 48,500 people worldwide and ranks 152 among the Fortune 500 companies.
"EMC is widely credited as one of the industry's most customer-centric companies and a source of innovation and growth around the world. Those distinctions are, in part, the result of sustained investment in a growing global network of world-class customer service operations," said Howard Elias, President and Chief Operating Officer, EMC Information Infrastructure and Cloud Services. "We are pleased to locate our newest customer support center in Utah with its growing skilled workforce, educational institutions and quality of life characteristics. This expansion will serve EMC's growing customer support operations and complement our other centers in the US and around the world."
The Utah Governor's Office of Economic Development (GOED) voted today to award an earned Economic Development Tax Increment Financing (EDTIF) tax credit to EMC to help facilitate the establishment of the company's new customer support center, which will be located in central Utah.
Under the terms of the agreement, EMC commits to invest over $7 million to bring the new facility into operation and plans to add 500 new jobs by the end of 2015. On an annual aggregate basis, wages for these 500 new employees are expected to exceed 125% of the average county salary. Additionally, wages paid over the life of the company's 10 year agreement with the State are expected to exceed $313 million. Over the life of the agreement, the State expects to receive over $14 million in new State tax revenues. And, over 10 years, the State will offer a post-performance, single taxpayer incentive not to exceed $3,513,700. The incentive will be paid out as a tax credit after EMC has paid its corporate, wage and sales taxes. The company will be eligible for increments of the tax credit only after they complete the requirements for job creation and capital investment.
"The Governor's Office of Economic Development has worked hard to retain and expand EMC's presence in Utah," said GOED executive director, Spencer Eccles. "Our educational system continues to produce high-quality and productive employees. Utah's workforce is second to none."
"EMC's announcement is another example of Utah's ability to grow and keep high-paying technical jobs in the State," says Jeff Edwards, president and CEO of Economic Development Corporation of Utah. "The information technology sector here will be greatly enhanced by EMC's long-term presence, which will bring further economic success to Utah."
About EMC Corporation
EMC Corporation is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. Fundamental to this transformation is cloud computing. Through innovative products and services, EMC accelerates the journey to cloud computing, helping IT departments to store, manage, protect and analyze their most valuable asset - information - in a more agile, trusted and cost-efficient way. Additional information about EMC can be found at www.EMC.com.
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. 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. www.business.utah.gov