Health Catalyst Jobs: Growing and Innovating with Help from Utah
For the past several months, Health Catalyst has been working with the State of Utah to grow and expand our base of operations here in Utah. The Governor’s Office of Economic Development (GOED) has assisted Health Catalyst team members, including Kyle Salyers, Mark Nelson, and Jeff Jarvie, in identifying almost 300 potential new Health Catalyst jobs over the next five years that would be eligible for tax incentives, assuming Health Catalyst locates these positions within Utah rather than elsewhere.
Several weeks ago I had the privilege of representing Health Catalyst in pitching our company to the GOED board. It was an honor to describe how our company has grown from two individuals to our current level of 335, both within the state and without, and to speak with pride about the important and meaningful work our team members perform every day in helping to transform healthcare in this country. Through this process we were able to secure a tax credit of over $700,000, which is 20 percent of the expected state tax revenue created from new jobs within the state of Utah over the next five years.
Health Catalyst Jobs: A Different Kind of Investment
On June 11th, I was able to return to the GOED quarterly board meeting and formally accept this tax credit on behalf of Health Catalyst. As I sat in the meeting and listened to the various items of business the GOED discussed (including fun topics such as the linking of all seven major ski resorts over the next few years into the largest contiguous ski area in the United States, AND the possibility of an exciting new television series that may or may not be shot here in Utah— cool stuff!), it struck me that the incentive we received from the state isn’t just a stodgy old tax credit. In principle, it’s no different from an investment we would receive from any other investor. It just comes in a slightly different form than what we would receive from Sequoia, Norwest, or anyone else.
As I thought about the award in this light, I reflected on the booming growth Utah is experiencing right now in entrepreneurship and small business growth. The rest of the country has recognized Utah as the next big thing in entrepreneurial hot spots in this country. To see this in action, one only needs to drive south down I-15 past the Thanksgiving Point area in northern Utah County, and observe the explosion in office buildings, restaurants, and infrastructure occurring there. This is the return on investment that the state loves to see from companies like us. As we innovate, grow, and achieve success, we make not only our own lives better, but we contribute to the lives of all our neighbors here in the state, by contributing jobs and providing economic stimulus to support industries around us. Thus we all benefit as this collective effort improves this great state of ours.
Thank You, Utah
So please join me in saying “thank you” to the state of Utah for entrusting us with an investment of its scarce and important public resources. It is an honor for those of us located here to work and live along the Wasatch Front, and we will do our best to earn and show a return to our great state of Utah!
By the way, GOED issued a press release about how Health Catalyst is contributing to job growth in Utah. Read it by clicking that link.