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Area Development - Site Selection, Facility Planning and Workforce Development

iCapital To Expand Salt Lake County, Utah, Operations

06/17/2025
Fintech company iCapital plans to expand its operations in Salt Lake County, Utah. The project is expected to create 200 jobs.

“Investing in the fintech industry positions Utah as a leader in cutting-edge financial solutions, diversifies our economy, attracts top talent, and lays a strong foundation for long-term growth,” said Jefferson Moss, executive director of the Governor’s Office of Economic Opportunity. “Fintech companies like iCapital make financial services more efficient and inclusive, reinforcing Utah’s role as a hub for technological progress and economic opportunity.”

To support the project the Utah Governor’s Office of Economic Opportunity awarded iCapital a post-performance tax reduction. The corporate incentive is part of the state’s Economic Development Tax Increment Financing (EDTIF) program.

“Salt Lake City is thrilled for iCapital’s expansion, which reflects our city’s strength in technological innovation and forward-thinking entrepreneurship,” noted Lorena Riffo Jenson, director of Salt Lake City’s Department of Economic Development. “As we continue to grow our fintech sector, we’re not only fueling economic momentum — we’re creating high-quality jobs that support families and strengthen our communities. This is human-centered economic development in action, and it’s exactly the kind of progress we strive for.”

iCapital provides the technology platform to access and manage the lifecycle of a range of non-traditional investment products, making it easier to learn about, buy, manage, and integrate alternative and structured investments and annuities into portfolios.

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