GoHealth Expands Business Operations in Utah
SALT LAKE CITY (June 14, 2018)—The Governor’s Office of Economic Development (GOED) is proud to announce GoHealth will expand business operations into Utah, adding over 500 jobs, $3,216,488 in new state revenue and $900,000 in capital investment.
“GoHealth will be a great addition to numerous strategic economic clusters in the state,” said Val Hale, executive director of GOED. “GOED is proud to work with many stakeholders to make this growth happen, including Lindon City.”
For nearly 20 years, GoHealth has been leading innovation in healthcare. The company, headquartered in Chicago, provides consumers with quality coverage that meets their needs and fits their budgets, connecting Americans to affordable insurance throughout every stage of their life. In addition, the company partners with the nation’s top healthcare carriers as a trusted extension of their team, supplying them with scalable business solutions that allow them to focus on what they do best: provide healthcare.
“Salt Lake City was a natural choice for our next office – from the city’s growing business culture to its deep talent pool, we felt it was the right fit for our latest expansion,” said Clint Jones, co-founder and CEO of GoHealth. “This new office is an exciting indication of our company’s growth, and we greatly look forward to becoming a part of the local business community.”
The Salt Lake City office will be focused on providing customer support for both consumers and partners across the U.S. GoHealth is actively recruiting highly-motivated, energetic individuals and will invest in new employees’ professional growth through training and development. GoHealth was awarded Crain’s Chicago Business 101 Best Places to Work and plans to bring the same level of employee engagement and job satisfaction to Salt Lake City.
GoHealth will create up to 363 full-time jobs over the next five years, as well as 150 part-time and seasonal positions. The total wages in aggregate are required to exceed 110 percent of the Salt Lake County average wage. The projected new state wages over the life of the agreement are expected to be approximately $84,645,000. Projected new state tax revenues, as a result of corporate, payroll and sales taxes, are estimated to be $3,216,488 over five years.
GoHealth may earn up to 20 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 GoHealth, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $643,298. Each year as GoHealth meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.