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Orem — Jive Communications has announced today the expansion of Jive’s Utah County operations. The company signed an incentive agreement with the Governor’s Office of Economic Development (GOED).
Under the agreement, 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 is expected to be approximately $6.4 million.
As part of a contract with Jive Communications, the GOED board of dDirectors has approved a maximum cap tax credit of $938,321 in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) 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.
The company added more than 100 employees last year. The company plans to continue hiring with the expansion, adding more than 570 jobs over the next five years.
“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 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.”