Today, the Utah Governor’s Office of Economic Opportunity awarded Pattern a post-performance tax reduction for its expansion in Utah County. The corporate incentive is part of the state’s Economic Development Tax Increment Financing program.
As part of the agreement, Pattern projects to add more than 500 high-paying jobs and invest $25,957,500 in Utah over the next 10 years.
“The global expansion Pattern has achieved since its beginnings here in Utah is remarkable, and we’re pleased about the addition of hundreds of new jobs to its home base,” said Ryan Starks, executive director of the Utah Governor’s Office of Economic Opportunity. “Pattern continues to set the standard for market leadership and showcases the potential our Utah companies have in creating a positive impact on both the local and global economies.”
Pattern is the leader in global e-commerce and marketplace acceleration. Hundreds of global brands — including Bosch, Nestlé, Stance, TUMI, and Panasonic — rely on the company’s e-commerce acceleration platform to grow their online sales on direct-to-consumer websites, online marketplaces, and other digital channels in more than 60 countries, all while managing fulfillment and logistics.
“Utah continues to be a key component in our long-term growth strategy,” said David Wright, co-founder and CEO at Pattern. “We love the incredible talent pool, vibrant business climate, and world-class outdoor entertainment in the Beehive State. We can’t think of a better place for our global headquarters and look forward to another decade of growth.”
“Approximately one-third of EDCUtah’s active projects are Utah companies looking for their next business location, and it’s great to see another homegrown tech company stay and grow in Silicon Slopes,” said Scott Cuthbertson, president and CEO of EDCUtah. “Pattern is a market leader for global e-commerce and marketplace acceleration, and its expansion is a great win for Lehi and the surrounding community.”
“Pattern exemplifies the type of technology company that Silicon Slopes is named for in the heart of Lehi,” stated Marlin Eldred, economic development director at Lehi City. “As a global leader in e-commerce, Pattern is changing the way companies are doing business. This exemplifies the entrepreneurial spirit that the Utah technology sector is built on. Lehi City as a partner is excited to see the Governor’s Office of Economic Opportunity incentivize Pattern to expand and stay in our city.”
Tax Credit Projections
| Timeline: | 10 years |
| Jobs: | 510 |
| Wages: | $354,305,078 |
| New state tax revenue: | $14,541,259 |
| New state tax credit: | 20% |
Learn more about the state’s post-performance program here.