Estimated read time: 1-2 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
SALT LAKE CITY — The Governor’s Office of Economic Development and Esurance announced Thursday that the company will open a new office in Weber County, creating 700 new jobs.
Over the 20-year life of the agreement with the state, the a subsidiary of Allstate will pay out $610 million in new state wages. All of the incented jobs will pay at least 125 percent of Weber County’s average annual wage, including benefits.
During that same time period, Esurance will pay $23 million in new state taxes and invest $15 million in capital expansion at the Utah-based office.
“Weber County has a talented workforce that will help us to continue to provide a seamless experience for Esurance customers as we expand our business,” said Esurance president and CEO Gary Tolman. “We look forward to growing with Weber County and helping local residents build rewarding careers with Esurance.”
Founded in 1999, Esurance sells insurance to consumers online and over the phone, and employs nearly 3,000 associates nationwide.
The GOED board of directors approved a maximum of $5.8 million in an Economic Development Tax Increment Finance post-performance refundable tax credit the company can earn, or 25 percent of the net taxes paid by the company over the lifetime of the incentive.
