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LendingClub Expanding in Utah

$17.85 million CAPEX

860 jobs

130,000 square feet

Project 2nd Site/Dujji

November 6, 2018

The Governor’s Office of Economic Development (GOED) and the Economic Development Corporation of Utah (EDCUtah) are pleased to announce that LendingClub Corporation (NYSE: LC) will expand in Utah adding up to 860 jobs, $22 million in new state revenue and an estimated $17.85 million in capital investment over the next 10 years.

“Utah’s financial-tech industry continues to grow and LendingClub’s entry into the state will continue to strengthen the industry,” said Val Hale, executive director of GOED. “They will benefit from the growing technical talent and great work culture in the state.”

LendingClub, America’s largest online credit marketplace, is the leading provider of unsecured personal loans in the U.S. More than 40,000 people come to its site daily and the company is committed to helping motivated Americans improve their financial health.

“As we continue our growth and increase our focus on operating efficiency and resiliency, it is clearly time for us to expand beyond our San Francisco headquarters,” said Scott Sanborn, CEO of LendingClub. “Having a second site in the great state of Utah, with access to the region’s tremendous talent pool will help improve the service we offer to our members while ensuring business continuity.”

“We’re excited to welcome one of fintech’s pioneers to Utah,” said Theresa A. Foxley, president and CEO of EDCUtah. “We hope that as the world’s largest peer-to-peer lending company, they’ll feel right at home‚ and busy, in Silicon Slopes.”

The company’s new center will be located at Thanksgiving Station in Lehi, Utah.

For more information on this or other projects, contact Colby Cooley, at 801-323-4250, ccooley@edcutah.org

Investors: If you were involved in this project and would like to add your organization to this announcement, please email connect@edcutah.org.

 

Erin Farr

Senior Business Development Manager

efarr​@edcutah.org
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