Varo Money

Project Name
Watts
Date Announced
2Q 2017
Site
TBD
Competition
Arizona
“Varo Money is excited to leverage the great financial services and technology talent in the Wasatch Front market.” --Colin Walsh, co-founder and CEO
Decision Drivers
Workforce, Established Financial Services Industry, Success of Other Tech Companies
Jobs
331
Investment
$2.8 million
Square Footage
30,000 SF
Incentives
Varo Money 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 Tax Increment Finance (EDTIF) tax credit rebate. As part of the contract with Varo Money, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $336,382. Each year as Varo Money meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.