The Utah Governor’s Office of Economic Opportunity awarded Coast a post-performance tax reduction for its expansion in Salt Lake County. The corporate incentive is part of the state’s Economic Development Tax Increment Financing (EDTIF) program. As part of the agreement, Coast projects to add 97 new, high-paying jobs and invest $10,582,348 in Utah during the next 20 years.
“Utah is proud to support businesses that drive innovative solutions shaping our state's future,” said Ryan Starks, executive director of the Governor’s Office of Economic Opportunity. “By simplifying fleet management and associated expenses, businesses can focus on what truly matters — growing their operations. Streamlining these processes not only saves time and reduces costs but also fosters economic growth in Utah by empowering businesses to reinvest in their communities.”
Coast is a financial services platform that simplifies fleet fuel payments and expense management across industries. Designed to make fleet administration more efficient than traditional financial services, its payment platform provides seamless integration for businesses, allowing drivers to fuel up anywhere Visa is accepted — eliminating the need for “in-network” stations. Coast’s mission is to help businesses save time and money through easy-to-use software that enables customized spending rules, real-time transaction tracking, and fraud prevention. With transparent pricing and rebates on every gallon, the company empowers businesses to streamline operations and focus on what matters most.
“We were pleased to have support from EDCUtah and the Utah Governor’s Office of Economic Opportunity on this site selection decision,” said Coast VP Operations Stephen Rosen. "Our expansion into Utah will help us accelerate our business and continue to drive monetary and time savings to Coast customers.”
“Coast’s decision to expand into Utah speaks volumes about the strength and momentum of our tech and fintech sectors,” said Scott Cuthbertson, president of EDCUtah. “Its expansion from New York highlights Utah’s strong business climate and deep talent pool, and we look forward to the impact Coast will have on our economy and innovation landscape.”
“Draper City is eager to welcome Coast to our community,” said City Manager Mike Barker. “The proposed office space is in a great location — close to housing opportunities for all income ranges, quality restaurants and retail, and a transportation system that provides easy access to Salt Lake and Utah county. We believe Coast will be a great addition to Draper, and its business model will fit nicely with other thriving Draper businesses.”