An omnichannel commerce platform company will add up to 1,033 high-paying jobs over the next decade as it expands in Lindon.
Brandless Inc. made the announcement after being approved for a tax credit incentive of up to $2.6 million by the Governor’s Office of Economic Opportunity (Go Utah).
The company describes itself as making it easier for people “to take better care of themselves, their families and the planet by working with the best ingredients, partners and customers to drive community-led innovation and validation. By focusing on collaboration over control, quality over packaging and people over promotion, Brandless is leading a movement that believes that making better choices should be simple and easy.”
In a prepared statement, CEO Cydni Tetro said the company needed to anchor Brandless in a place with the talent pool, innovation infrastructure and additional resources to support its rapid growth trajectory.
Tetro told the Go Utah board that the company has offices in Utah, Minnesota and Florida. “So, for us, this is an evaluation of making sure that we can expand into a really great area with lots of talent that accelerates this growth trajectory that we are on and that continues, and we really love the talent pool around in Utah, so we think that there’s a great fit for what we’re building,” she said.
“Our trajectory is strong,” added Matt Durham, chief financial officer. Brandless is projecting it will reach $400 million in acquired revenue and organic growth over the next few years, he said.
“The idea of focusing on just what matters in a mission-driven business providing products that are better for you, better for your family and better for the world is something that’s compelling for the businesses that we’re working with, the partnerships we’re creating and the employees we’re bringing on, so we’re really excited to be able to do that here in Utah County and see this trajectory continue,” Durham said.
The $500,000 project is expected to generate $348.3 million in new wages over 10 years and new state tax revenue of $13 million during that time. The new positions are projected to pay an average of $75,563.
“Brandless is quickly becoming one of Utah’s fastest-growing consumer products companies,” Dan Hemmert, Go Utah’s executive director, said in a prepared statement. “With over a thousand new jobs, this corporate expansion will have a big impact here.”
“Brandless’ decision to anchor in Utah further validates our strong and expanding epicenter for consumer products and consumer tech,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah (EDCUtah). “Companies like Brandless choose Utah because we have one of the fastest-growing economies in the country, and provide everything they need to succeed.”
“Lindon City is pleased that Brandless is considering investing in an expansion of its business and workforce within our community,” said Lindon Mayor Jeff Acerson. “The company and its employees will be a valued part of our community and local economy.”
Brandless this summer announced it raised $118 million in equity and debt financing, led by Clarke Capital Partners, to acquire brands to expand its product portfolio. Clarke Capital Partners acquired Brandless in 2020.