The Governor’s Office of Economic Development announced Columbus, Ohio-based Alliance Data will expand in Utah, adding hundreds of jobs to the community and an estimated $15.6 million in capital investment. Alliance Data has operated Comenity Capital Bank, headquartered in Utah, since 2003.
“Alliance Data is a major player in the state’s growing financial services industry,” said Val Hale, executive director of GOED. “Their further innovation and growth in the state of Utah will help businesses throughout the country.”
Alliance Data’s card services business is a leading provider of tailored marketing and loyalty solutions, delivered through branded credit programs that drive more profitable relationships between retailers and their card members. Alliance Data provides private label, co-brand, and business products to more than 145 of the world’s most recognizable brands.
“This investment is a reflection of the company’s expected future growth. The new site will enable us to accommodate more associates to better serve existing brand partners as demand for our solutions continues to increase,” said Sallie Komitor, chief customer officer of Alliance Data card services. “Utah’s collaborative culture and spirit of public and private sector partnership are clear, and we are pleased to continue investing in this community – in technology, facilities and associates, who are our most valuable assets. We appreciate the support of the state as we embark on this opportunity.”
Alliance Data will create up to 105 high-paying 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 $33,864,658. Projected new state tax revenues, as a result of corporate, payroll and sales taxes, are estimated to be $5,053,513 over five years.
“We’re thrilled Alliance has decided to stay and grow in Utah,” said Theresa Foxley, president and CEO of the Economic Development Corporation of Utah. “The added jobs and investment will further strengthen Utah’s place in the financial services industry.”
Alliance Data 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 Alliance Data, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $758,027. Each year as Alliance Data meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.
The new 134,000-square-foot facility will be located at 12921 South Vista Station Boulevard, Draper, UT. Full project completion is estimated in Q1 2018.