Reuters has a detailed run-down on Goldman Sachs’ Salt Lake City office—which is the bank’s fourth largest operation behind New York, New Jersey and London.In the last couple of years, Goldman has increased its workforce in Utah while cutting jobs elsewhere due to the state’s friendly corporate tax policies, tax break deals and supply of educated workers. Those characteristics may be attractive to Goldman, but in fact—Utah’s in it for all those high-paying Goldman Sachs jobs too.
When Utah wanted to extend a tax break deal it had with Goldman, governor Gary Herbert, Salt Lake City mayor Ralph Becker and local business leaders personally came to Goldman’s New York offices to make their pitch personally, according to Reuters. Then—
Utah officials continue to give Goldman the star treatment. When Goldman Chief Financial Officer David Viniar, a former college basketball player, visited the Salt Lake office in October, he was invited to shoot hoops with players from the local NBA team, the Utah Jazz.
Whatever the case, the deal is paying off for Utah as other big banks have noticed Goldman’s movements—now, Morgan Stanley, JP Morgan and RBS have all expressed interest in office space in Utah and tax break deals, Reuters reported.