“Expanding a company like OrangeSoda in Utah is just what the Information Technology industry cluster needs,” Governor Gary Herbert said. “We must continue the growth of this industry so Utah will remain a technology driven state.”
As the company adds up to 100 new full-time jobs, the positions will pay a minimum of 125 percent of Utah County’s average yearly wage including benefits that will be created over a 10-year period. OrangeSoda will also create new desirable part-time job opportunities. The company will pay out more than $44 million in wages during that time.
Over the life of the agreement with the state, OrangeSoda will pay over $2.6 million in new state taxes and will invest over $5 million in capital.
“We are thrilled to partner with the GOED to create more jobs and opportunities for Utah’s talented, and unique workforce,” Gregory A. Peterson, President and COO of OrangeSoda said. “This is just one more reason that Utah is the best place to start and grow new companies.”
OrangeSoda is currently looking at buildings throughout Utah County and has not yet chosen a final city for its expansion.
OrangeSoda provides a unique blend of search engine marketing, site optimization, and social media marketing. Their unique approach to service and technology has driven meteoric growth since the company was founded in 2006. They currently serve over 5,000 clients, now with the opportunity to serve more, as part of the Deluxe Corporation family. OrangeSoda was recently recognized as the state’s eighth fastest growing company in MountainWest Capital Network’s 2012 Utah Top 100 rankings.
Utah’s Information Technology industry cluster has been present in Utah for almost three decades and is the largest industry cluster statewide. This cluster includes over 48,000 companies in Utah.
“We are an informational technologically driven state,” GOED executive director Spencer Eccles said. “Retaining and expanding OrangeSoda in our state will benefit Utah’s technology vitality.”
The GOED Board of Directors has approved a $535,859 Economic Development Tax Increment Finance (EDTIF) post-performance refundable tax credit, or 20 percent of the new taxes paid by the company for the expansion of Orange Soda in Utah. In addition to the EDTIF incentive the State has authorized up to $150,000 of post-performance training funds, from the Industrial Assistance Fund (IAF), to be coupled with a 50% match from company funds, to increase the company employees’ skill level.
The GOED Board of Directors has approved a $535,859 Economic Development Tax Increment Finance (EDTIF) post-performance refundable tax credit, or 20 percent of the new taxes paid by the company for the expansion of Orange Soda in Utah. In addition to the EDTIF incentive the State has authorized up to $150,000 of post-performance training funds, from the Industrial Assistance Fund (IAF), to be coupled with a 50% match from company funds, to increase the company employees’ skill level.
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