Brice Wallace
An Orem-based security technology company will add up to 3,400 jobs over the next decade after being approved for a state tax credit incentive.
LiveView Technologies Inc. provides a cloud-based software platform that collects, stores and organizes data from various sensors via cellular networks. The primary source of the data comes from proprietary solar-powered portable trailers equipped with cameras and other sensors, typically providing safety and security services. Its customers are in retail, construction, law enforcement, government and infrastructure, to name a few.
“We’re excited to align with the Office of Economic Opportunity,” Ryan Porter, CEO and founder, said in a prepared statement. “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.”
The company was approved for an incentive of up to $17.6 million over 10 years by the Governor’s Office of Economic Opportunity (Go Utah) board at the board’s January meeting.
Daniel Royal, Go Utah’s director of corporate growth and business development, said the company’s original proposal to Go Utah was for an incentive over five years related to 1,100 new jobs. Go Utah sought increases for both figures. “So it was great,” Royal said, “to see that growth, as well as increasing the average wage,” now projected at $96,677.
Asked about the 3,400 projected new jobs, Andrew Gale, the company’s chief financial officer, said this to the board: “The 10-year model, given the amount of available market share and the growth that we’re seeing amongst our largest customers in big-box retail as well as many other verticals, we really don’t see a slowdown in our growth over the next many, many years. And as we start to hit maturity, then we are going to be close to those numbers that we projected as far as headcount.”
Royal said Utah faced competition for the project from Texas, Colorado, Oklahoma, Indiana and Virginia.
The city of Orem has a long history of helping facilitate the launch and growth of companies like LiveView, according to Brenn Bybee, assistant city manager. The city, he said, has “some great spaces” to accommodate bigger companies.
“So, anything that we can do or anyone that we can talk to to help keep these wonderful businesses that are growing in our community, we are all over it, and we’d love to be a positive help in keeping them with us and helping them grow within our community,” Bybee said.
The $328.2 million project is expected to generate new total wages of $1,318,589,576 over 10 years and new state tax revenue of $88,125,355 during that time.
“So, lots of commas in this one,” said Steve Neeleman, chairman of the Go Utah incentives committee and acting chairman during the January meeting. “It’s a big incentive, but obviously if you can pull off this type of growth with that type of wage and new state revenue, it’s pretty exciting for the state and for Orem and for everyone else.”
“LiveView Technologies has a unique business model that has allowed the company to grow rapidly,” Dan Hemmert, Go Utah’s executive director, said in a prepared statement. “We’re excited they have decided to expand in Utah, and we wish the company continued success.”
“LiveView Technologies epitomizes the Utah entrepreneurial spirit by finding a need and filling it,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “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.”
Go Utah does not provide upfront cash incentives. Each year that LiveView meets the obligations in its contract with the state, it will qualify to receive a portion of the new, additional state taxes the company paid to the state.