Quantcast

Oracle to open new Salt Lake County facility, create 351 jobs

Published: Thursday, June 12 2014 5:45 p.m. MDT

SALT LAKE CITY — The Governor’s Office of Economic Development announced Thursday that Oracle plans open a new customer software support center in Salt Lake County, and create approximately 351 jobs in the state of Utah over the next 10 years.

The new facility will be focused on supporting and responding to customers’ needs and helping them maximize their experience with Oracle products.

Based in Redwood City, California, Oracle develops hardware and software engineered to work together in order to meet customers’ business needs. The company is focused on helping enable its 400,000 customers in more than 145 countries around the world eliminate complexity and simplify information technology.

The company already employs workers across Utah and will add customer support service jobs to Utah’s workforce. The total wages for the new positions, including medical benefits, 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 approximately $238,959,392, while estimated new state tax revenues are forecast to be $11,318,407 over 10 years. The new Oracle facility has the potential to result in an expected capital investment of $6,142,500.

As part of a contract with Oracle, the GOED Board of Directors approved up to a maximum tax credit of $2,829,602 in the form of a post-performance Economic Development Tax Increment Finance incentive, which is 25 percent of the new state taxes Oracle will pay over the 10-year life of the agreement. Each year as Oracle meets the criteria in its contract with the state, it will earn a portion of the tax credit incentive.

Get The Deseret News Everywhere

Subscribe

Mobile

RSS