Utah Gov. Herbert Promotes "Utah as Best State to Grow Business"
DRAPER, Utah, Nov. 3, 2014 /PRNewswire/ -- Progressive Leasing, a leading virtual lease-to-own company, broke ground today on a six-story building as an expanded project for the fast-growing company's new headquarters. Utah Gov. Gary R. Herbert and Draper City Mayor Troy Walker attended the groundbreaking celebration to promote Utah and Draper as "the best state to grow business."
"As one of the fastest growing companies in Utah, Progressive Leasing has thrived since its inception 15 years ago and is on track to reach $1 billion in revenue in 2015," said John Robinson, CEO of Progressive Leasing and Executive Vice President of Aaron's, Inc. "We believe the fantastic people working at Progressive are the reason the company has been such a success. The level of talent and work ethic of the people in the community is unbelievable and one of our true competitive advantages in the marketplace."
"For the past three years, Utah has been named by Forbes as the 'Best State for Business and Careers,'" said Gov. Herbert. "Utah has the nation's second highest job growth and offers post-performance tax incentives to businesses that create jobs. More and more, businesses like Progressive realize Utah truly is the best state to grow business."
Utah natives, Brent Wilson and Curt Doman, founded Progressive in 1999 as a non-traditional purchase assistance option for credit challenged consumers. Progressive now provides its unique solution to retail partners across the nation. In April 2014, Aaron's, Inc. (NYSE: AAN), a leader in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories, acquired Progressive, now operating as a wholly-owned subsidiary. Over the past three years, Progressive has added 600 jobs to Utah's local economy and is poised to continue that growth.
Located in Draper, Utah, Progressive's new headquarters will house 700 employees who build advanced technical and customer support solutions for their retail partners and lease-to-own customers across the nation.
Utah has been named "number one in the country for business and careers" according to the Pollina Corporate Top 10 Pro-Business States. The costs of operating a business and living are 10 percent below the national average and the fastest broadband in the Western U.S. is available in Utah, ideal for growing companies. Utah offers a stable and predictable business-friendly climate, is the second fastest growing economy in the U.S. and the corporate tax rate has not risen in 15 years.
About Progressive Leasing
Founded in 1999 by Brent Wilson and Curt Doman, Progressive Leasing provides virtual lease-to-own solutions in more than 15,000 retail locations in 46 states. Progressive operates as a wholly-owned subsidiary of Aaron's, Inc. (NYSE: AAN), a leader in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories. For more information, visit www.progleasing.com.
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CONTACT: Mark Olson; 801-874-8772; mark.olson@progfinance.com