Jive Communications Expands Its Utah County, Utah, Production Facility
“The success Jive is experiencing speaks to the solidity and efficiency with which the company has been run over the past eight years,” said Spencer P. Eccles, Executive Director for the Utah Governor’s Office of Economic Development. “As a state, we look forward to the new jobs and economic growth that the expansion will bring to Utah County.”
“We’re proud to be a Utah-based company,” said John Pope, Jive’s CEO. “The state has a wealth of technical and business professionals, and we’re able to hire world-class talent here at home.”
“EDCUtah is pleased to see the expansion of Jive Communications in Utah County,” said Jeff Edwards, President and CEO of the Economic Development Corporation of Utah. “The information technology sector in the state will be greatly enhanced by Jive’s commitment to grow their operations here.”
According to state economic development officials, over the next five years Jive Communications will pay at least $6,255,476 in new state taxes and $130,946,265 in new state wages. Capital investment for this expansion will be approximately $6.4 million.
As part of a contract with Jive Communications, the GOED Board of Directors has approved a maximum cap tax credit of $938,321 in the form of a post-performance Economic Development Tax Increment Finance incentive, which is 15 percent of the net taxes Jive Communications will pay over the five-year life of the agreement. Each year as Jive Communications meets the criteria in its contract with the state, it will earn a portion of the tax credit incentive.
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