Deserve Plans Salt Lake Valley, Utah, Operations Center
03/19/2020
Deserve provides a digital-first, mobile-centric, highly configurable credit card solution using machine learning and alternative data.
“We’re excited that Deserve has chosen to grow in Utah and add to the state’s robust fintech sector,” said Val Hale, GOED’s executive director. “The new high-paying jobs Deserve will create will support a wide range of areas including human resources, information technology, finance and accounting.”
“Salt Lake Valley’s diverse and entrepreneurial talent pool and business-friendly environment provide Deserve with a unique opportunity to scale our operations while aligning with our entrepreneurial spirit and diverse culture,” said Kalpesh Kapadia, founder and CEO of Deserve. “We are proud to be a part of Utah’s thriving fintech ecosystem and add our expertise to this growing community of innovators.”
As an incentive, Deserve may earn up to 20% of the new 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 GOED Board has approved a post-performance tax credit not to exceed $374,089. Each year that Deserve meets the criteria in its contract with the state, it will earn a portion of the total tax credit.
“Utah has a front-and-center role in the transformation of financial services, and is one of the leading locations nationwide for fintech expansion with the skilled workforce to match,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “We welcome Deserve to our state.”
Project Announcements
PEAK Precision Manufacturing Plans Bowling Green, Kentucky, Operations
07/26/2024
Italy-Based Sipcam Agro USA Upgrades Wayne County, Mississippi, Operations
07/26/2024
Cleveland-Cliffs Plans Weirton, West Virginia, Operations
07/26/2024
IDEXX Laboratories Plans Wilson, North Carolina, Production Operations
07/26/2024
Germany-Based Ritz Instrument Transformers Plans Waynesboro, Georgia, Operations
07/26/2024
AirJoule Plans Newark-Wilmington, Delaware, Operations
07/26/2024
Most Read
-
19th Annual Area Development Gold and Silver Shovel Awards
Q2 2024
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The CHIPS and Science Act will bring jobs back to the United States
Q2 2024
-
The Bring Your Own Energy (BYOE) Party Is Starting
Q2 2024
-
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
Q3 2023
-
How to Overcome NIMBYism in Data Centers
Q2 2024