OGDEN -- Another Fortune 100 company is coming to Ogden and it's bringing with it 700 new jobs.
On Thursday afternoon Ogden City, the Governor's Office of Economic Development and the Economic Development Corporation of Utah finalized an agreement with Esurance Insurance Services Inc. to bring a new office to the Boyer Business Depot Ogden.
The GOED Board of Directors approved $5.8 million in post-performance tax credits that the company can earn, or 25 percent of the net taxes paid by the company over the lifetime of a 20-year incentive period.
Over the 20-year life of the agreement with the state, the company will pay out $610 million in new state wages. All of the incentivized jobs will pay at least 125 percent of Weber County's average annual wage, including benefits.
During that same time period Esurance will pay $23 million in new state taxes and will invest $15 million in capital expansion at the Utah-based office.
"These are going to be higher-paying jobs," said Ogden Business Development Manager Steve Fishburn. "In a lot of cases, people that will be working here will have to become licensed and certified."
The Esurance operation will occupy a new "built-to-suit" complex in the BDO, although the square footage and exact location of the building are yet to be determined.
Fishburn said permitting for construction will begin immediately.
Esurance, an online automobile insurer, was established in 1999 as an alternative to obtaining insurance through an agent.
It offers insurance in 39 states and has expanded to 3,000 employees in what is currently 16 offices nationwide. It was acquired by the Allstate Corp. in 2011.
"Weber County has a talented workforce that will help us to continue to provide a seamless experience for Esurance customers as we expand our business," said Esurance president and CEO Gary Tolman in a statement. "We look forward to growing with Weber County and helping local residents build rewarding careers with Esurance."
Fishburn said the Esurance center represents the second Fortune 100 company to open a major satellite office in Ogden in just over a year.
In August 2012, The Home Depot Inc. opened a HomeDepot.com customer service and sales center.
Located in a 100,000-square-foot building in the BDO, the Home Depot Center employs approximately 700 people.
"We emphasize the cost of doing business, the cost of living and the quality of our workforce," Fishburn said about selling large corporations on the benefits of setting up shop in Ogden. "And in this case, the new building at the BDO, which will go up very quickly and for a great price, provides a competitive advantage on the construction side of things. That's how we compete in a situation like this."
Contact reporter Mitch Shaw at 801-625-4233 or firstname.lastname@example.org. Follow him on Twitter at @mitchshaw23.