Dive Brief:
- Salt Lake City-based Health Catalyst is expanding its headquarters, resulting in 297 new jobs.
- The company develops IT systems for healthcare organizations and also offers data warehousing, analytics and outcomes improvement. Customers include more than 200 hospitals and 2,000 clinics that serve more than 50 million patients, according to a company release.
- The expansion is supported by the Utah Governor's Office of Economic Development, which approved a maximum tax credit of about $700,000.
Dive Insight:
The tax incentive is in the form of post-performance Economic Development Tax Increment Finance (EDTIF) incentives, which is 20% of the new state taxes the company will pay over their five-year agreement with the state. Every year Health Catalyst meets the criteria, it earns a portion of the total tax credit incentive.
"Health Catalyst, like its founders, grew up in Salt Lake City, which combines a vibrant technology sector with one of the nation's leading laboratories for health care improvement," said CEO Dan Burton. "We feel the region is one of the best places in the U.S. today to operate as a healthcare technology company, and we're grateful that GOED is working with private companies like Health Catalyst to nurture an even stronger environment for innovation and job growth."