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Salt Lake City — Consumer United has announced it will expand with an office in Utah.
The Governor’s Office of Economic Development has signed an incentive agreement with Consumer United which approves up to a maximum tax credit of $1,053,751 in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) incentive, which is 20 percent of the new state taxes Consumer United will pay over the seven-year life of the agreement. Each year as Consumer United meets the criteria in its contract with the state, it will earn a portion of the tax credit incentive.
“We are very excited about the opportunity to expand our business operations to Utah,” said Justin Dangel, CEO of Consumer United. “As we considered locations west of the Mississippi to accommodate our fast growing business and customer base across the country, we found that Utah not only offers an extremely attractive combination of hard working and well-educated workers, but also visionary government leaders that have created an ideal environment for economic development.”
Consumer United plans to create 400 new jobs over the next seven years. The total wages, including medical benefits, in aggregate are expected to exceed 125 percent of the county average wage. The projected new state wages over the life of the agreement are expected to be approximately $121,744,109. Projected new state tax revenues, as a result of corporate, payroll and sales taxes, are estimated to be $5,268,757 over seven years. The new Consumer United facility has the potential to result in an expected capital investment of $900,000.
Consumer United is an independent online insurance agency. Founded in 2007 by Justin Dangel, Consumer United has now grown to more than 400 employees across multiple locations.