This is an archived article that was published on sltrib.com in 2016, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.
Lucid Software, a South Jordan company whose products "empower millions to build stunning visual content on the web," is embarking upon a major expansion with state financial assistance.
The tech company is planning on an $11 million capital investment that will produce 339 jobs over the next five years.
To help the company succeed, the Governor's Office of Economic Development (GOED) offered Lucid Software a post-performance tax credit not to exceed $726,269, about one-fifth of the $3.6 million in new state taxes anticipated from the expansion.
The new employees' wages are projected to total $91.2 million during the agreement's five-year life.
"GOED is committed to the success of homegrown companies," said Val Hale, the agency's executive director. "Our expanding tech industry is supported by multiple copanies like Lucid Software that are established and headquartered here.
"Utah's Silicon Slopes will continue to grow because of the state's deep traditions of entrepreneurship and innovation," he added, referring to the cluster of high-tech firms in northern Utah and southern Salt Lake counties.
"Lucid Software is a great example of a Utah company with homegrown talent succeeding at the highest levels," pitched in Michael Flynn, the Economic Development Corporation of Utah's interim chief of staff.
Ben Dilts and Karl Sun founded the company in 2010, quickly establishing itself by being included in the first wave of apps for the Google Apps Marketplace and becoming a featured launch partner with the Chrome web store.
Consistent growth has followed. The company website said Lucid Software had grown to more than 100 employees before the expansion.
"We're thrilled to be in Utah and truly believe that we couldn't have picked a better location to build our business," said Son, Lucid Software's CEO.