QuickBase Bolsters Salt Lake City’s Tech Scene
The Utah Governor’s Office of Economic Development (GOED) and the Economic Development Corporation of Utah (EDCUtah) today announced QuickBase, Inc. plans to expand its operations in Utah adding 485 jobs and $6.2 million in new state revenue over the next five years. The Department of Economic Development of Salt Lake City was instrumental in this successful project coming to fruition.
“We are excited that QuickBase has selected Utah to open a second location,” Val Hale, executive director of GOED. “QuickBase will expand their Utah facility with sales executive, customer success, solution engineering, marketing, software developer and customer care roles.”
QuickBase is a market leader in the customized application building space, with more than 5,400 customers, serving businesses of all sizes across every industry. QuickBase delivers solutions for customers that can streamline processes, track and analyze real-time data and create efficiencies. The company, headquartered in Cambridge, MA, was acquired by Vista Equity Partners in April 2019 and currently has 359 employees.
"Salt Lake City has become a vibrant technology hub with an impressive pool of talent, which made it an obvious choice as we looked for locations for our second office," said Rick Willett, QuickBase CEO. "As companies across every industry continue to empower their employees with our application-building platform, we have added enhanced security, mobile access and a visual design tool to QuickBase. A second location in Salt Lake City and an increase in our headcount, will help us to further serve our customers across the U.S."
QuickBase plans to create up to 485 jobs in Utah over the next five years. The total wages in aggregate are required to exceed 110 percent of the average county wage. Projected new state wages over the life of the agreement may be up to $169,425,308. The projected state tax revenue is a result of corporate, payroll and sales tax.
"I am thrilled to welcome QuickBase to Utah's Capital City. Salt Lake City's Department of Economic Development is proud to have worked with the QuickBase team to help with this expansion since the start of their process. Salt Lake City's booming tech ecosystem, talent pipeline, local resources, and incredible quality of life will ensure QuickBase's continued growth and success," said Lara Fritts, director of the Department of Economic Development for Salt Lake City.
Quick Base may earn up to 20 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 Finance (EDIF) tax credit rebate. As part of the contract with Quick Base, the GOED Board of Directors has approved an EDTIF post-performance tax credit not to exceed $1,257,983 representing 20 percent of the estimated $6,289,915 of new state revenue, which may be earned over five years. Each year Quick Base meets the criteria in its contract with the state, the company will earn a portion of the total tax credit rebate.
“This project is exciting on so many fronts,” said Theresa Foxley, president and CEO of EDCUtah. “For one thing, it’s bringing very high-paying jobs to our state, and for another, it’s highlighting that downtown Salt Lake City has a tech vibe to match any locale in our entire Silicon Slopes.
Erin Farr, Business Development Manager, managed this project for EDCUtah. She worked with site selector Steve Cook of Avison Young throughout the project.
For other inquiries about this project, please contact:
Mike Flynn, Chief Operating Officer, EDCUtah
(801) 328-9742, email@example.com