The Utah Governor’s Office of Economic Development (GOED) and the Economic Development Corporation of Utah (EDCUtah) are pleased to announce BlueVine Capital Inc. will expand its operations in Utah, creating 1,449 new jobs in the next nine years.

“Our fintech sector continues to grow, and we’re pleased BlueVine has chosen to expand in the state,” said Val Hale, executive director of the Governor’s Office of Economic Development. “This project to build a new operations center for BlueVine will create many high-paying jobs that will be economically impactful for Utah.”

BlueVine offers a suite of products designed to meet the diverse financial needs of today’s business owners, including BlueVine business checking, line of credit, term loan and invoice factoring. BlueVine has provided more than $2.5 billion in financing to small and medium-sized businesses since its founding in 2013.

“We’re very excited to join the thriving fintech community in Utah’s Silicon Slopes and look forward to welcoming local customer support and account management talent to our new operations center,” said Eyal Lifshitz, CEO and co-founder of BlueVine. “Our Utah operations center will help support and scale our vision for BlueVine business banking and help take our customer service to the next level.” 

The GOED Board has approved a post-performance tax rebate not to exceed $4,087,777 over the nine-year life of the agreement.

“This project was generated from an April 2018, Bay Area Global Strategy & Outreach (GS&O) campaign focused on fast-growing fintech companies,” said Theresa A. Foxley, president and CEO of EDCUtah. “Welcoming BlueVine to Utah validates the strength of our fintech cluster and the effectiveness of our GS&O initiative.”

To learn more about BlueVine, visit  https://www.bluevine.com/ 

Erin Farr, business development manager, led this project for EDCUtah.

For more information on this or other projects, contact Colby Cooley, vice president of business development, at 801-323-4250, ccooley@edcutah.org.

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