Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Domo Q1 fiscal year 2022 earnings call. At this time, all participants are in listen-only mode. After the speakers presentation, there will be a question-and-answer session. [Operator instructions] Please be advised that today s conference is being recorded.
[Operator instructions] I would now like to hand the conference over to your speaker today, Mr. Peter Lowry, vice president of investor relations. Please go ahead.
Peter Lowry
Vice President of Investor Relations
Good afternoon, and welcome. On the call today, we have Josh James, our founder and CEO; Bruce Felt, our CFO; and Julie Kehoe, our chief communications officer. Julie will lead off with our safe harbor statement and then onto the call. Julie?
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SALT LAKE CITY Utah-based tech company Domo recently announced its plans to expand its American Fork office through an economic development incentive from the state aimed to bring more than 2,200 high-paying jobs to the area over the next 10 years. We think that s very doable given our plans and hopes and goals that we set for ourselves, said Julie Kehoe, a spokesperson for the company
The Utah Governor s Office of Economic Development approved a post-performance tax credit if Domo meets its end of the bargain and brings in 2,230 new jobs over the next 10 years. Domo could earn up to a 25% tax credit on what the company would have paid to the state over the 10-year period, not to exceed about $23 million.