SALT LAKE CITY, Utah (ABC4 Utah)- The company behind the popular social media app Snapchat is coming to Utah.
“Snapchat is one of the most widely used social media platforms in the world. Their new office will add a unique and creative perspective to the makeup of Silicon Slopes,” said Utah Technology Council President and CEO John Knotwell.
Techcrunch.com reports the company, Snap Inc., will be building the office in Lehi. The office will employee 50 people in the state over the next 15 years. The Governor’s Office of Economic Development says projected state tax revenues are estimated to be $12,685,151 over 15 years.
As part of the contract with Snap Inc., the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $2,537,030. Each year as Snap Inc. meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.