AmTrust Financial Services, Inc. will open an operations center in South Jordan, Utah. The project is expected to create 180 new high-paying jobs over the next five years.
“We remain committed to our existing office locations, and we’re excited to announce the opening of an office in the greater Salt Lake City area. This allows us to better balance workloads and places us at a competitive advantage,” said Andrew Morgan, Executive Vice President and chief claims officer at AmTrust Financial. “The new office supports AmTrust’s growth in the Western U.S. to serve our agents and small businesses better.”
AmTrust may receive up to 15% of the additional state taxes it will pay over the five-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. The Go Utah Board has approved a post-performance tax credit not to exceed $244,262. Each year that AmTrust meets the criteria in its contract with the state, it will qualify for a portion of the total tax credit.
“We’re excited for AmTrust to join us in Utah and add to the state’s robust financial services industry,” said Dan Hemmert, the Office of Economic Opportunity’s executive director. “One thing that stands out with AmTrust is they have a training program for both new and experienced employees that helps them attract employees. We welcome AmTrust to the great state of Utah.”
AmTrust underwrites and provides property and casualty insurance products to niche customer groups generally underserved within the broader insurance market. The company operates in the U.S. and internationally in three industry segments: small commercial business, specialty risk and extended warranty, and specialty program.
“While the pandemic delayed the planned office, we’re thrilled AmTrust chose to move forward,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “We know the company will find South Jordan a productive location, and we hope this project is a harbinger of more to come in Utah’s financial services industry.”