A Millcreek company that helps people arrange lawn maintenance online and a California financial technology firm that promotes business ownership received incentive offers of nearly $2 million on Thursday from state economic development officials.
The Governor’s Office of Economic Development board offered Palo Alto, Calif.-based Carta, which changed its name from eShares Inc. just this week, a post-performance tax credit rebate of up to $1.15 million if it creates 464 jobs in the next five years.
Carta expects to invest about $5.7 million in a new facility, whose location has not been finalized, and to generate $122.7 million in new state wages over the life of the agreement. The company’s presence is forecast to add $5.7 million to state revenue coffers, said GOED Executive Director Val Hale.
“Utah’s universities provide some of the finest education and training in the country,” he added, “producing some of the top talent in the fintech and technology industries. Carta is growing quickly and is eager to tap into Utah’s talented workforce to support its rapid growth and innovation.”
Carta is registered with the U.S. Securities and Exchange Commission as a transfer agent, helping companies issue, value and move securities. It also tries to help companies of all sizes, from seed stage to those that are publicly traded, to “turn their employees into owners” through a software platform. It allows businesses to manage their ownership electronically, allowing for the participation of shareholders, employees, auditors and legal counsel.
The Millcreek company, TaskEasy, received an offer of nearly $807,000 to add 191 employees over the next five years at its operation, which is currently at 1521 E. 3900 South. The company is looking to relocate and to spend $6.5 million on its new facility.
“TaskEasy was founded in the unique entrepreneurial culture of Utah,” said Chief Operating Officer Karl Sowa. “Starting in this environment has really helped support our growth. We’re pleased to double down on our growth here. This state investment will help us achieve our job creation goals even faster.”
New employees added over the next 15 years are projected to earn wages of $50.8 million. In return for its investment, Hale said Utah expects to get $5.4 million in new state tax revenues.
TaskEasy allows customers, both individual homeowners and managers of multiple-unit complexes, to order lawn-care services through its website and its mobile app. Sowa said the company’s software program established a fair market price for the work desired and “supports guaranteed quality service.”
The company currently has a presence in all 50 states, he added.