The Utah Governor’s Office of Economic Development (GOED) is pleased to announce that Anglepoint Group, Inc. will expand its Utah location, creating up to 93 high-paying jobs in the next five years.
“Anglepoint is growing quickly as the demand for software asset management increases,” said Val Hale, GOED’s executive director. “This expansion will employ more Utah-based employees and expand the company’s physical office presence in Utah. We’re pleased to see more growth in Utah’s IT industry and wish Anglepoint continued success.”
Anglepoint is a market leader in the IT and Software Asset Management (SAM) space. Anglepoint helps large Fortune 500 organizations address specific needs for enterprise software through program strategy, tool selection, and implementation and ongoing management of software licensing. Angelpoint’s goal is to limit IT costs, minimize risk related to the ownership, licensing, and use of software, and to maximize the productivity of end-users.
“Anglepoint was founded in 2009 with just three employees. Since then, we have grown to over 100 team members around the world, said Brian Papay, CEO of Anglepoint. “Now, thanks to Governor Herbert and the EDTIF program, we can further expand our Utah operations, creating new jobs and contributing to the local economy. Our story began in Silicon Valley, and now we are excited to write a new chapter in Silicon Slopes.”
Anglepoint may earn up to 15% of the new state taxes it will pay over the five-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. The GOED Board has approved a post-performance tax credit not to exceed $228,348. Each year that Anglepointmeets the criteria in its contract with the state, it will earn a portion of the total tax credit.
“As in Utah, the California tech scene is incredibly innovative and has produced many rising stars, including Anglepoint,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “The company has found great talent and a business-friendly environment in Lindon, Utah, which further strengthens the connection between our two markets.”
“We are excited to see Anglepoint expand within Lindon City,” said Michael Florence, Lindon City economic development director. “We thank GOED and EDCUtah for the tremendous work they have done to support this great business. Lindon knows how important it is to retain great business partners and we look forward to seeing Anglepoint grow and develop even stronger in our community.”
State of Utah Tax Credit Projections by the Numbers
About Utah Corporate Incentives
The Utah Legislature has authorized economic development incentives in the form of post-performance tax credits. Eligible companies work with the Utah Governor’s Office of Economic Development to outline specific performance criteria. Once GOED confirms those criteria have been met, according to statute (U.C.A. 63N-2-106(2)), companies can receive a refund of up to 30% of the state taxes they paid for up to 20 years. The contract with the state is post-performance; it only provides a state tax credit if the company meets its obligations.