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.