Zions Bancorporation to build technology campus in Midvale
Salt Lake City— Zions Bancorporation, N.A. (NASDAQ: ZION) today announced that it will build a 400,000-square-foot technology campus in Midvale, Utah, on the former Sharon Steel Mill Environmental Protection Agency Superfund site. Anticipated to be completed in mid-2022, the sustainably built campus will be the company’s primary technology and operations center, serving Zions’ seven affiliate brands in 11 western states.
As one of Utah’s largest technology employers, Zions will accommodate more than 2,000 employees at this location and be built to respond to changing work patterns in the years ahead. Providing Zions employees a highly flexible and engaging work environment, the new campus will allow the bank to achieve substantial efficiencies by eliminating 11 smaller facilities totaling 520,000 square feet, reducing related occupancy costs by more than 20 percent.
The project is anticipated to achieve a Platinum LEED-certification with sustainable building features that include the use of low VOC-emitting construction materials, triple pane exterior glass, and ultra-efficient heating and cooling systems. More than 75 percent of the building’s electricity will be produced from on-site renewable solar energy. The campus will feature electric vehicle charging stations and will offer proximity to the Historic Gardner Village light rail station.
Nestled along the Jordan River Parkway, the property will reclaim a previously contaminated former steel mill site and support a regional habitat system through ecologically focused design and landscaping. To foster employee health and well-being, the campus will offer outdoor recreation opportunities, locker and shower facilities, shareable bikes, and a large modern café with healthy and diverse menu options.
“Zions Bancorporation’s Enterprise Technology and Operations division has been making industry-leading investments in its core banking systems while also delivering a variety of state-of-the-art digital banking capabilities. This environment-friendly campus will help us attract the best technology talent in the country while also reducing our overall facilities costs,” said Zions Bancorporation Chairman and CEO Harris H. Simmons.
An estimated 1,500 workers will be employed during the construction project, stimulating continued job and economic growth in the Salt Lake Valley. Designed by award-winning architectural firms WRNS Studios, and Method Studios, the project will be built by Okland Construction and Layton Construction and managed by Gardner Company. Colliers International negotiated the transaction for Zions Bancorporation.
“Zions Bancorporation’s new campus will have a significant economic impact on the city of Midvale, as well as the surrounding cities, the state, and indeed the entire Intermountain West. Investments of this nature are critical to the ongoing growth, innovation and success of our state’s economy and our financial services and technology sectors,” said Utah Governor Gary R. Herbert. “As Utah has gained a significant reputation for being a leader in the intersection of financial services and technology industries, this investment further validates that recognition and our unmatched business climate.”
Zions Bancorporation, N.A. is one of the nation’s premier financial services companies with annual net revenue of $2.8 billion in 2019 and more than $70 billion of total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The Bank is a consistent national and statewide leader of customer survey awards in small and middle-market banking, as well as a national leader in Small Business Administration lending and public finance advisory services. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at zionsbancorporation.com.