The Utah Governor’s Office of Economic Opportunity (Go Utah) is pleased to announce that Lumio, Inc. plans to expand its operations in Salt Lake City, Utah, adding up to 3,697 new high-paying Utah jobs in the next 20 years.
“The amount of jobs Lumio will bring to the state will have a big impact on our local economy,” says Dan Hemmert, the Office of Economic Opportunity’s executive director. “There is a big market for solar and home experience upgrades in Utah, and we wish Lumio success as they continue to grow and expand.”
Lumio is a leading technology company and instant top-five US residential solar provider comprising four leading regional solar companies and multiple software platforms. Lumio’s collective strength lies in experience design, software, partnerships, supply chain, cooperative sales strategies, fulfillment, and best-in-class operations.
“We’re increasing demand for renewables and decentralized energy production, storage, and management, so it’s crucial that Lumio invests heavily in the tech and the people who will meet this demand,” says Greg Butterfield, CEO of Lumio. “We’re thrilled to partner with Go Utah to ensure the state is at the forefront of sincere sustainability.”
Butterfield also notes, “Our leadership team has built dozens of companies across the Wasatch Front, so we know from experience that Utah develops and attracts the best people anywhere.”
Lumio may receive up to 25 percent of the additional state taxes it will pay over the 20-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. The Go Utah Board has approved a post-performance tax credit not to exceed $40,308,233. Each year that Lumio meets the criteria in its contract with the state, it will qualify for a portion of the total tax credit.
“While our involvement in this expansion project was limited, we welcome Lumio to Utah’s fast-growing tech industry,” says Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “Our state is a productive base for any innovative company like Lumio.”