Womply may earn up to 15 percent of the new state taxes they will pay over the five-year life of the agreement in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) tax credit rebate. As part of the contract with Womply, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $292,933. Each year as Womply meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.
Womply to Join Silicon Slopes, Utah Governor's Office
Womply, a company that focuses on aiding small to medium sized businesses with their technology and data analytics, was directed to Utah through Peek, a company that expanded to Utah in spring of 2016. The exceptional experience that Peek had with Utah resulted in a positive referral to Womply in their own search for a location for an expansion project.
Womply originally opened an experimental sales office in Lehi, Utah, in addition to other experimental areas throughout the U.S. After only a few months of their trial run in Lehi, the company quickly decided to officially expand to Utah.
The project came to EDCUtah through Mike O’Malley at the Governor’s Office of Economic Development, and officially began in August, when Womply came into contact with EDCUtah. EDCUtah was able to connect the company with local leaders in Lehi to secure local support.
The project was announced November 10, 2016 and Womply has chosen Lehi as a location for their Utah office.