Xactware Solutions Incorporated, a provider of management technology for the property insurance, remodeling, and restoration industries, will invest an estimated $130 million to locate its new 210,000-square-foot headquarters at Traverse Mountain Business Park in Lehi, Utah, with plans to hire 859 employees over the next two decades.
According to the Utah Governor's Office of Economic Development, Xactware's insurance company customers write 80 percent of all claims in the United States. Each day more than 14,000 insurance claims files flow through Xactware's Utah-based servers.
The firm plans to move its headquarters and operations center from Orem, Utah, several miles north to Lehi, a city of 47,400 residents on Interstate 15. Its new facility, which will be located near Timpanogos Highway just two miles from the new Thanksgiving Point FrontRunner station and within walking distance of a future TRAX station and the new Murdock Canal Trail system. The facility will feature a state-of-the-art data center, beach volleyball courts, basketball courts, and a fitness center.
As an incentive, The Governor's Office of Economic Development said as the company completes this expansion and meets hiring quotas, it will qualify for a maximum post-performance Economic Development Tax Increment Financing tax credit of up to $32,262,990 over the life of the agreement.
"Xactware has experienced phenomenal growth by tapping into Utah's hard-working and intelligent high-tech workforce," said Jim Loveland, Xactware's president and CEO. "We're pleased to be able to continue our growth and build on the strength of our Utah roots."
"We are very excited that Xactware has decided to come to Lehi," said Lehi's mayor, Bert Wilson. "We are building our own little Silicon Valley out here, and we are thrilled to have yet another high-tech business come to our city. The employees Xactware brings are nothing but high-caliber."