The Utah Governor’s Office of Economic Development (GOED) has extended an incentive offer to MaritzCX in consideration for the company’s plan to expand its global customer experience (CX) technology business and create up to 425 additional jobs in Utah over the next seven years.
“We are pleased that the world-class technology and research company, MaritzCX, chose to expand here in Utah,” said Val Hale, GOED executive director. “The continued growth of technology in Utah is astounding. Businesses know Utah is the right location because of the collaborative relationship between the private sector and government leaders, and because of the talented Utah workforce.”
MaritzCX is the recently-announced customer experience technology company that brings together the award-winning software innovation of Allegiance with the market research expertise of Maritz Research. With an unmatched combination of four key elements: CX software, data and research science, deep vertical market expertise, and managed program services, MaritzCX will deliver the world’s broadest end-to-end CX software platform and services business.
“The CX market is moving quickly and the skilled and well-educated Utah workforce will be integral to our growth,” said Carine Clark, current president and CEO of Utah-based Allegiance and future president and CEO of MaritzCX. “We help organizations drive growth and profitability by improving customer retention, conversion, and lifetime value. We do this by ingraining CX intelligence and actions systems in the DNA of business operations – helping them see, sense and act on the experiences of every customer, at every touch point. It is really gratifying that the state of Utah believes in MaritzCX and supports our vision.”
“This is a huge win for Utah,” said Jeff Edwards, president and CEO of the Economic Development Corporation of Utah (EDCUtah). “Not only does this expansion reflect the quality workforce that Utah has to offer, but it is also a direct reflection on Utah’s presence as a leading technology hub in the US.”
MaritzCX plans to create up to 425 new positions over the next seven years. The total wages, including medical benefits, in aggregate are expected to exceed 125 percent of the county average wage. The projected new state wages over the life of the agreement are expected to be up to $268,110,000. Projected new state tax revenues, as a result of corporate, payroll and sales taxes, are estimated to be up to $10,270,795 over seven years.
As part of a contract with MaritzCX, the GOED Board of Directors has approved up to a maximum tax credit of $2,054,159 in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) incentive, which is 20 percent of the new state taxes MaritzCX will pay over the seven-year life of the agreement. Each year as MaritzCX meets the criteria in its contract with the state, it will earn a portion of the tax credit incentive.