Fintech giant SoFi expanding Utah operations, bringing $3M in investments, 410 new jobs

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SoFi Technologies plans to expand in Utah, adding 410 jobs and investing $3M.

The expansion is supported by Utah's post-performance tax reduction incentive program.

SoFi acquired Sandy-based Galileo in 2020 for $1.2 billion, enhancing its fintech platform.

COTTONWOOD HEIGHTS — The Utah Governor's Office of Economic Opportunity has awarded a post-performance tax reduction to fintech giant SoFi Technologies for its Salt Lake County expansion as part of the state's Economic Development Tax Increment Financing program.

Unlike other states, Utah doesn't offer incentives up front; instead, it provides awards to companies after performance benchmarks are met.

As part of the agreement, SoFi — a digital finance company with FDIC-insured online banking — is planning to add 410 ne