Brice Wallace
A South Jordan-based software company will grow by 152 high-paying jobs over the next five years.
Strider Technologies Inc.’s expansion will get a boost from the state in the form of a tax credit of up to $465,980 that recently was approved by the Governor’s Office of Economic Opportunity board.
Strider was founded in 2019 and had its headquarters in Washington, D.C., until it moved to Utah in January 2021. Landon Moller, corporate controller and interim chief financial officer, said the company has 83 employees in South Jordan and expects to essentially double that figure in the next three to five years. The company also has offices in Washington, D.C.; London, U.K.; and Tokyo, Japan; and customers in 10 nations. It has more than 180 employees in total.
“We’re in the business of transforming publicly available data into strategic intelligence to secure and advance innovation,” Moller told the GOEO board, meeting at the One Utah Summit in Cedar City. “Another way to put that is, we’re essentially giving companies, universities and government agencies the ability to take all of the data that’s out there and help prevent state-imposed theft, essentially.”
Strider software can “determine whether someone is trying to steal their IP,” he said. The company website indicates the technology can address and respond to state-sponsored intellectual property theft, but also targeted talent acquisition and supply chain vulnerabilities. Moller said the technology can identify potential risks in the hiring process and in existing workforces.
“As we all know, these risks keep getting greater and greater, so we’re helping companies be able to defend against that,” he said.
The company’s customers include those in the oil and gas, semiconductor, biotech, aerospace and defense, technology and manufacturing sectors, among others. “Really, any company that’s innovating can use our product to help protect that,” Moller said.
Ryan Starks, GOEO’s executive director, said some state officials recently saw a demonstration of the Strider technology. “It truly is revolutionary,” Starks told the GOEO board. “It certainly blew our minds, and I think we just left the meeting with Strider thinking we’re so grateful that this is a Utah company.”
The expansion project is expected to result in new total wages of nearly $56.4 million during the next five years, and new state tax revenues of more than $2.3 million during that period. The new jobs are projected to pay an average of $107,263. The company’s capital expenditure for the 30,000-square-foot project is $415,000.
“We’re grateful for Utah’s efforts to enable Strider to attract even more of the best and brightest from the intelligence, technology, and business communities to Utah, and further establish the state as the center of gravity for innovation in national and global intelligence,” Greg Levesque, company CEO and co-founder, said in a prepared statement. “Gov. [Spencer] Cox and GOEO are taking important, decisive action to encourage innovation, entrepreneurship, and growth in the Beehive State. We applaud them for their efforts and look forward to continued partnership as we scale our operations in Utah.”
“We’re honored that Strider has chosen to expand its footprint in Utah,” Starks said in a prepared statement released by the company. “Strider’s mission to protect the ideals and innovations of the free world strongly aligns with Utah’s commitment to foster innovation and entrepreneurship. We look forward to supporting the company’s expansion in Utah, and we are excited for the innovative global impact Strider will create.”
“Utah continues to strengthen its position as a leading business destination for cybersecurity and defense technology companies,” said Scott Cuthbertson, president of the Economic Development Corporation of Utah, which connected the company to the city of South Jordan for local community engagement and GOEO for business incentives. “Utah’s skilled workforce and business-friendly environment are important factors in the success of innovative companies like Strider, and we’re pleased to see Strider’s growth in the city of South Jordan.”
“We are excited to see great corporate partners like Strider growing in the city of South Jordan,” said Brian Preece, South Jordan’s director of city commerce. “South Jordan is an exciting place to live and work, and we are pleased to be home to innovative companies like Strider.”
GOEO does not provide upfront cash incentives. Each year that an incentivized company 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.