Marqeta chooses Colorado to open Second Company Headquarters
DENVER — Governor Jared Polis and the The Colorado Office of Economic Development anTrade (OEDIT) announced today that Marqeta, the global modern card issuing platform, has selected metro Denver for its second company headquarters alongside its Oakland office.
“Colorado is an emerging leader in financial technology because of our high quality of life and talented workforce, and I’m very excited to have a great company like Marqeta make its second home in Colorado. Our state is a hub for innovation and the entrepreneurial spirit,” said Governor Jared Polis. “This is a challenging time for many businesses, and we’re excited to see the creative ways companies are finding to continue growing while protecting their employees and customers. I look forward to seeing the further success of Marqeta here in Colorado.”
“Marqeta signals to the market that Colorado is a prime location for companies seeking a diverse industry base. Colorado is a place where finance and technology converge and a robust fin-tech industry thrives. Innovative companies are seeking lower cost markets and we are pleased to see a high profile segment leader like Marqeta join our growing financial technology cluster,” said Michelle Hadwiger, director of Global Business Development at OEDIT. “
Marqeta is a global modern card issuing platform that provides an advanced infrastructure to issue cards and process payments. With its modern, open APIs, Marqeta is designed for businesses that want a simple and tailored way of managing payment programs. Marqeta was founded in 2010, employs more than 430 people and at the end of 2019 had issued more than 140 million cards through its platform. In 2020 it was named to CNBC’s Disruptor 50 and Forbes’ Fintech 50 lists.
Marqeta expects to employ over 500 people over the next eight years, with a goal of hiring 100 FTEs in its chosen location within the first 12 months of the office opening. The Average Annual Wage (AAW) for these new positions is $134,472 which represents approximately 155 percent to 184 percent of the Average Annual Wage of the areas being considered. These jobs represent a full suite of corporate functions including management, finance and business development, software engineering, marketing, legal, and operations.
“While the current pandemic has brought unprecedented change to our working lives, we expect collaborative office spaces to remain an important part of the Marqeta culture,” said Jason Gardner, Founder and CEO of Marqeta. “We are thrilled to be expanding Marqeta into metropolitan Denver, exporting the unique culture and energy from our Oakland home into a new city and tapping into a deep talent pool in Colorado.”
The Economic Development Commission approved a Job Growth Incentive Tax Credit of $5,525,357 at its June 18 board meeting to help secure the company’s second headquarter. Colorado competed with Portland, Oregon, as well as 16 other cities who were considered, for the new facility.
About Colorado Office of Economic Development and International Trade
The Colorado Office of Economic Development and International Trade (OEDIT) works with partners to create a positive business climate that encourages dynamic economic development and sustainable job growth. Under the leadership of Governor Jared Polis, we strive to advance the State’s economy through financial and technical assistance that fosters local and regional economic development activities throughout Colorado. OEDIT offers a host of programs and services tailored to support business development at every level including business retention services, business relocation services, and business funding and incentives. Our office includes the Global Business Development division; Colorado Tourism Office; Colorado Outdoor Recreation Industry Office; Colorado Creative Industries; Business Financing & Incentives division; the Colorado Small Business Development Network; Colorado Office of Film, TV & Media; the Minority Business Office; and the Colorado Innovation Network. Learn more at www.choosecolorado.com.