The Utah Governor’s Office of Economic Opportunity (Go Utah) is pleased to announce that Brandless, Inc. will expand in Lindon, Utah, bringing up to 1,033 new high-paying jobs in the next 10 years.
“Brandless is quickly becoming one of Utah’s fastest-growing consumer products companies,” said Dan Hemmert, the Office of Economic Opportunity’s executive director. “With over a thousand new jobs, this corporate expansion will have a big impact here.”
Brandless is one of the world’s fastest-growing omnichannel commerce platforms for consumer products. The company makes it easier for people to take better care of themselves, their families, and the planet by working with the best ingredients, partners, and customers to drive community-led innovation and validation. Brandless is also a platform for other mission-driven, digitally-native brands to accelerate growth and become a force for good with the core belief that making better choices should be simple and easy.
“With millions of customers, thousands of new product requests, hundreds of products and categories and dozens of marketplace partners, we needed to anchor Brandless in a place with the talent pool, innovation infrastructure, and additional resources to support our rapid growth trajectory,” said Brandless CEO Cydni Tetro. “With this location, we can accelerate towards our mission of democratizing access to better-for-you products and empowering everyone to be a force for good.”
Brandless may receive up to 20% of the additional state taxes it will pay over the 10-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. The Go Utah Board has approved a post-performance tax credit not to exceed $2,618,218. Each year that Brandless meets the criteria in its contract with the state, it will qualify for a portion of the total tax credit.
“Brandless’s decision to anchor in Utah further validates our strong and expanding epicenter for consumer products and consumer tech,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah (EDCUtah). “Companies like Brandless choose Utah because we have one of the fastest-growing economies in the country and provide everything they need to succeed.”
“Lindon City is pleased that Brandless is considering investing in an expansion of its business and workforce within our community. The company and its employees will be a valued part of our community and local economy,” said Lindon City Mayor Jeff Acerson.
State of Utah Tax Credit Projections by the Numbers
|Projected new state tax revenue||$13,091,088|
|EDTIF new state taxes||20%|
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 Opportunity to outline specific performance criteria. Once the office 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 new 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.