November 9, 2012

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah

Sections

Spotlight
Martin Plaehn

Spotlight
Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

TechKnowledge
In the Lab

EntrepreneurEdge
Rent to Own

Business Trends
Back from the Dead

Executive Living
Artful Inspiration

Features
A Breath of Fresh Air

Features
Worst-Case Scenario

Regional Report
Northern Utah

Focus
Measure Up

Industry Outlook
Travel & Tourism

Players
Players

Article

The Royal Bank of Scotland Expands in Salt Lake County

Press Release

November 9, 2012

The Royal Bank of Scotland (RBS), along with the Governor’s Office of Economic Development (GOED), announced that it will expand for the second time in Utah. Working with the State and Taylorsville City on the modification and expansion of the company’s current incentive, RBS has agreed to add 50 new positions to the previous agreement for the creation of 260 jobs. 

“We are pleased to have RBS stay and expand in our state,” Gov. Gary R. Herbert said. “This is a true testament to our ‘best in the nation’ economy.”

The bank will expand its current workforce commitment from 260 employees to 310 over the fifteen-year agreement. All RBS positions will pay a minimum of 125 percent of Salt Lake County’s average yearly annual wage including benefits during the life of the agreement. RBS will pay more than $21.1 million in new state taxes and will invest more than $2.6 million in capital over the incentive’s lifetime.

“The continued growth of the financial industry cluster in Utah is good for the State, the workforce and our business community generally,” said Spencer Eccles, GOED executive director.

The GOED Board of Directors has approved a modified Economic Development Tax Increment Financing (EDTIF) post-performance refundable tax credit of $5,275,124, or 25 percent of the new state tax revenue paid by the company during the expansion of RBS in Utah over the fifteen-year agreement.

Utah Business Social
UB Events View All
30 Women to Watch 2014!Utah Business Event
May 22, 2014
Thirty of Utah’s most dynamic women will be recognized at the 15th Annual 30 Women to Watch Awar...
Rocky Mountain Leadership ConferenceUtah Business Event
Jun 19, 2014
Utah Business and Hero Partners are thrilled to announce the Rocky Mountain Leadership Conference...
Community Events View All
Utah Investment & Business Expo
Apr 25, 2014
Utah Investment & Business Expo is a premiere Investment & Business Symposium and Expo that featu...
United Way of Salt Lake Young Leaders Annual Celebration
Apr 25, 2014
Join the United Way of Salt Lake Young Leaders for an exciting evening by going back in time to a...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
Date(s):
to
* Event Description:
  Cancel