By Jordan Phelps
Health savings solution provider, HealthEquity plans to expand at its Utah headquarters adding 200 jobs over the next six years, according to a statement from the Governor’s Office of Economic Development.
HealthEquity was founded in 2002 and is currently serving 1.6 million HSAs across 70 of the nations top health plans. HealthEquity plans to generate up to $6.75 million in capital investment through their expansion, according to the statement.
“HealthEquity is honored to call Utah home,” said Jon Kessler, HealthEquity president and CEO. “This great state offers a highly skilled and educated talent pool, proactive communities and a government that promotes business. These amenities have been central to our continued growth.”
HealthEquity may earn back up to 20 percent of the new state taxes that they will pay over the six years of the expansion through a post-performance Economic Development Tax Increment Finance (EDTIF) tax credit rebate. The Governor’s Office of Economic Development has approved HealthEquity for a rebate of up to $569,917 as long as they meet the criteria of its agreement with the state.
“We congratulate HealthEquity on their continued growth,” said Val Hale, executive director of GOED. “We’re always thrilled when successful companies not only start but also stay here. As more company leaders acknowledge Utah’s business-friendly environment, they see their investment truly pays off.”