A private financial services company has selected Utah for an expansion project, bringing up to 500 jobs to the state over the next five years.

Earnest, based in San Francisco, announced the project last week after being approved for a tax credit incentive of up to $2.8 million by the Governor’s Office of Economic Development (GOED) board.

The $5.6 million project represents the first major expansion for Earnest, which has 150 employees at its headquarters. The new jobs in Utah are expected to be across credit and client operations, sales and marketing, engineering and management.

The company has not decided on the exact location for the project.

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