$328.2 million CAPEX
The Utah Governor’s Office of Economic Opportunity (Go Utah) and the Economic Development Corporation of Utah (EDCUtah) are pleased to announce that LiveView Technologies, Inc. (LVT) will expand its Orem headquarters bringing up to 3,400 new high-paying jobs in the next 10 years. Capital expenditures associated with the project are $328.2 million.
“LiveView Technologies has a unique business model that has allowed the company to grow rapidly,” said Dan Hemmert, Go Utah’s executive director. “We’re excited they have decided to expand in Utah, and we wish the company continued success.”
LVT provides a cloud-based software platform that collects, stores, and organizes data from various sensors via cellular networks. The primary source of this data comes from proprietary solar-powered portable trailers equipped with cameras and other sensors, typically providing safety and security services in a wide variety of industry verticals. These systems provide condition-based automated responses, including pre-recorded and live two-way audio communication, lighting functions, law enforcement notifications, and more.
“We’re excited to align with the Office of Economic Opportunity,” said CEO and Founder Ryan Porter. “We started in Utah, and it’s part of who we are as a company. These incentives will make it easier for us to stay competitive and attract top talent to Utah while we help make the world a safer place.”
LVT may receive up to 20% of the additional state taxes it will pay over the 10-year life of the agreement in the form of a Utah Legislature-authorized Economic Development Tax Increment Finance (EDTIF) tax credit. Each year that LVT meets the criteria in its contract with the state, it will qualify for a portion of the total tax credit.
“LiveView Technologies epitomizes the Utah entrepreneurial spirit by finding a need and filling it,” said Theresa A. Foxley, president and CEO of EDCUtah. “While our involvement in this project was limited, we look forward to seeing their rapidly deployable systems meet the changing security needs of organizations in a wide range of industries.”
Erin Farr, senior business development manager, led Project Wire for EDCUtah.
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Senior Business Development Managerefarr@edcutah.org