$1 million CAPEX
25,000 square feet
Project Magnolia 2
Team Utah* is pleased to announce that AmTrust Financial Services, Inc. will open an office in Utah, adding up to 180 new high-paying jobs in the next five years. The expansion includes capital expenditures of $1 million.
“We’re excited for AmTrust to grow in Utah and add to the state’s existing robust financial services industry,” said Dan Hemmert, executive director of the Governor’s Office of Economic Opportunity (Go Utah).“One thing that stands out with AmTrust is they have a training program for both new and experienced employees that allows them to attract a broader hiring pool. We welcome AmTrust to the great state of Utah.”
AmTrust underwrites and provides property and casualty insurance products to niche customer groups that are generally underserved within the broader insurance market. AmTrust operates in the U.S. and internationally through three operating segments: Small Commercial Business, Specialty Risk and Extended Warranty, and Specialty Program.
“We remain committed to our existing office locations, and we’re excited to announce the opening of an office in the greater Salt Lake City area. This allows us to better balance workloads and places us at a competitive advantage,” said Andrew Morgan, EVP, chief claims officer, AmTrust Financial. “The new office supports AmTrust's growth in the Western U.S. to better serve our agents and small businesses.”
The Go Utah Board has approved a post-performance tax credit not to exceed $244,262. Each year that AmTrust meets the criteria in its contract with the state, it will qualify for a portion of the total tax credit.
“We’re thrilled to welcome AmTrust to the City of South Jordan as the company establishes a new U.S. claims center focused on workers’ compensation, specialty risk and extended warranties,” said South Jordan Mayor Dawn Ramsey. “The new office is a reflection of AmTrust’s commitment to the local community and economy. We look forward to working together to maintain South Jordan’s presence as a great place to live and do business.”
“While the pandemic delayed the planned office, we’re thrilled AmTrust chose to move forward,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah (EDCUtah).“We know the company will find South Jordan a productive location, and we hope this project is a harbinger of more to come in Utah’s financial services industry.”
Real estate square footage associated with the project is estimated at 25,000.
Erin Farr, senior business development manager, led Project Magnolia 2 for EDCUtah.
For more information on this or other projects, contact Colby Cooley, vice president of business development, at 801-323-4250, firstname.lastname@example.org.
Tedd Carrison and Eric Stavriotis of CBRE - Chicago provided site selection services to the company.
*Team Utah is a public-private partnership including the Utah Governor’s Office of Economic Opportunity (Go Utah), EDCUtah, and – in the case of this project – South Jordan.
Investors: If you were involved in this project and would like to add your organization to this announcement, please email email@example.com
Senior Business Development Managerefarr@edcutah.org