Sunwest Bank, an entrepreneurial business bank serving the Western United States, will be expanding its office in Sandy, Utah. The company plans to invest $250,000 and add up to 63 new high-paying jobs in the state in the next five years.
"The state of Utah has done an excellent job building an environment where entrepreneurs and innovators can thrive," said Carson Lappetito, president of Sunwest Bank. "Sunwest prides itself in being the bank for entrepreneurs, by entrepreneurs, and we’re excited to continue our growth in Utah."
The GOED Board has approved a post-performance tax credit not to exceed $524,523. Each year that Sunwest Bank meets the criteria in its contract with the state, it will earn a portion of the total tax credit.
“In a state that is well-known for our entrepreneurship, we’re glad Sunwest Bank chose Utah to grow its business,” said Dan Hemmert, GOED’s executive director. “Sunwest Bank will provide many services needed for Utah entrepreneurs, and we hope Sunwest bank will feel at home in our state.”
“The Financial Services industry is one of Utah’s largest in terms of number of firms and availability of talent,” said Theresa A. Foxley, president and CEO of EDCUtah. “We’re confident that Sunwest Bank will find the ingredients to grow here quickly and efficiently.”