Salt Lake City-based Zions Bancorporation has announced that it will build a 400,000-square-foot technology campus in Midvale on the former Sharon Steel Mill Environmental Protection Agency Superfund site. Anticipated to be completed in mid-2022, the campus will be the company’s primary technology and operations center, serving Zions’ seven affiliate brands in 11 western states.
In a release, the banking giant said, “The campus represents the company’s long-term commitment to advanced financial technology solutions and economic growth.”
As one of Utah’s largest employers, Zions will accommodate more than 2,000 employees at this location and it will be built to respond to changing work patterns in the years ahead, the bank said. The new campus will allow the bank to achieve substantial efficiencies by eliminating 11 smaller facilities totaling 520,000 square feet, reducing related occupancy costs by more than 20 percent.
The project is anticipated to achieve a Platinum LEED-certification with sustainable building features that include the use of low VOC-emitting construction materials, triple-pane exterior glass and ultra-efficient heating and cooling systems. More than 75 percent of the building’s electricity will be produced from on-site renewable solar energy. The campus will feature electric vehicle charging stations and will offer proximity to the Historic Gardner Village light rail station.
Located along the Jordan River Parkway, the property will reclaim a previously contaminated former steel mill site and support a regional habitat system through ecologically focused design and landscaping. To foster employee health and well-being, the campus will offer outdoor recreation opportunities, locker and shower facilities, shareable bikes and a large modern café with healthy and diverse menu options, according to the release from Zions.
“Zions Bancorporation’s Enterprise Technology and Operations division has been making industry-leading investments in its core banking systems while also delivering a variety of state-of-the-art digital banking capabilities,” said Zions Bancorporation chairman and CEO Harris H. Simmons. “This environment-friendly campus will help us attract the best technology talent in the country while also reducing our overall facilities costs.”
An estimated 1,500 workers will be employed during the construction project, Zions said. Designed by architectural firms WRNS Studios and Method Studios, the project will be built by Okland Construction and Layton Construction and managed by Gardner Co. Colliers International negotiated the transaction for Zions Bancorporation.
“Zions Bancorporation’s new campus will have a significant economic impact on the city of Midvale, as well as the surrounding cities, the state, and indeed the entire Intermountain West. Investments of this nature are critical to the ongoing growth, innovation and success of our state’s economy and our financial services and technology sectors,” said Gov. Gary R. Herbert. “As Utah has gained a significant reputation for being a leader in the intersection of financial services and technology industries, this investment further validates that recognition and our unmatched business climate.”
Zions is one of the nation’s premier financial services companies with annual net revenue of $2.8 billion in 2019 and more than $70 billion in total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming.