Womply and the Governor’s Office of Economic Development announced the small business data analytics company will open a Utah office, adding up to 175 high-paying jobs to the community.
“Womply is a Silicon Valley company that has identified an important niche market and is experiencing rapid growth,” said Val Hale, executive director of GOED. “Womply used a thorough vetting process to consider multiple markets for expansion and ultimately selected Utah for its high-caliber workforce. We congratulate the company on a wise decision.”
Founded in San Francisco in 2011, Womply uses technology and data to grow, protect and simplify small business. The company provides on a subscription basis a suite of business monitoring, analytics, and marketing tools that help merchants manage their businesses more easily and get more customers. For example, Womply provides complete monitoring and management of online reviews from sites such as Google and TripAdvisor. Womply is also the leading technology partner to the credit card processing industry.
“We are thrilled to be expanding into Utah County and to tap into the great pool of local talent,” said Cory Capoccia, president of Womply. “We aim to build a lasting presence in the area, and we are hiring aggressively for sales, operations, engineering and other critical roles to accelerate and support our already industry-leading growth.”
The Womply project will create up to 175 jobs over the next five years. The total wages in aggregate are required to exceed 110 percent of the county average wage. The projected new state wages over the life of the agreement are expected to be approximately $41,325,000. Projected new state tax revenues, as a result of corporate, payroll and sales taxes, are estimated to be $1,952,888 over five years. The project is expected to generate up to $100,000 in capital investment.
“We are excited to welcome Womply to Utah,” said Michael Flynn, chief marketing officer and acting chief of staff at the Economic Development Corporation of Utah. “This project represents another win in the ‘fin-tech’ industry and will bring more high paying jobs to the state. We are thrilled that Utah continues to make its mark in this growing industry.”
Womply may earn up to 15 percent of the new state taxes they will pay over the five-year life of the agreement in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) tax credit rebate. As part of the contract with Womply, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $292,933. Each year as Womply meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.
Womply is working closely with the local community to determine the best location for the new operation. Exact location will be determined at a future date.