Visa to add 400 jobs at Douglas County tech center

Visa Inc. will add more than 400 new jobs over the next five years at its existing global technology center in Douglas County, the credit-card giant and state of Colorado announced Tuesday.

The San Francisco-based credit card company (NYSE: V) now has about 7,500 employees around the world, including 700 in Colorado. It anticipates leasing 66,000 square feet of new space and making about $9 million in capital investment here.

On Dec. 11, the Colorado Economic Development Commission voted unanimously to offer as much as $5.7 million in job-creation tax credits to the company, referring to it only as “Project Knowledge,” while Visa was considering locations in Colorado, Utah and Virginia.

The money was to support the creation of 406 jobs in the areas of information technology, financial services and client support paying an average of $106,000 a year — roughly 180 percent of the average Douglas County salary.

Visa officials also worked with the Denver South Economic Development Partnership and Metro Denver Economic Development Corp. to find the space for the expansion.

“As Visa’s business continues to grow, it is important that we expand our operational capabilities to advance our business,” said Micheal Dreyer, global head of technology and CIO, in a news release. “The partnership with the State of Colorado enables us to increase our existing operations with key talent while stimulating the local economy.”

Gov. John Hickenlooper lauded the announcement.

“We are excited that Visa has selected Colorado for its expansion,” the Democratic governor said in a news release. “This news helps demonstrate that Colorado, with its innovative ecosystem and strong technology base, is a state where business grows and thrives.”

Ed Sealover covers government, health care, tourism, airlines and hospitality for the Denver Business Journal and writes for the "Capitol Business" blog. Phone: 303-803-9229.