County Economic Development offices
UTAH FUND OF FUNDS The Utah Fund of Funds program was established with the passage of Utah House Bill 240 (“The Venture Capital Enhancement Act”) through $100 million of contingent tax credits. The Fund of Funds invests in strong performing venture capital/private equity firms, which in turn explore investments in promising Utah companies. In 2008, the Utah Legislature, with support and direction from the state’s entrepreneurial economy, voted to add $200 million in further contingent tax credits, bringing the total under the program’s management to $300 million. The program receives oversight from two boards: the public Utah Capital Investment Board (UCIB) and the private, executive Utah Capital Investment Corporation (UCIC). For more information on the Utah Fund of Funds, visit www.utahfof.com. The Utah Fund of Funds program has played a key role in helping Utah rank #3 for “Fastest Growing Firms” and #5 for “Venture Capital” in the 2010 Kauffman Foundation study. USTAR During the 2006 Utah legislative session, strong collaboration between industry, government and education leaders resulted in passage of the Utah Science Technology and Research (USTAR) economic development initiative, which is designed to maximize researchoriented technology development and commercialization from Utah’s leading institutions of higher learning by attracting and developing top research teams throughout the world. USTAR’s focus ranges from biomedical to advanced nutrition, nanotechnology biosensors, biofuels, fossil energy and other efforts that leverage existing university and industry strengths, while addressing large, strategic markets and vast commercialization opportunities. USTAR has been instrumental in helping attract top research teams from throughout the U.S. to Utah. The Kauffman Foundation ranked Utah #11 for “High Tech Jobs” and #13 for “Scientists and Engineers” in 2010. For more information on USTAR, visit www.ustar.utah.gov.
University of Utah Research Park
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Utah Governor’s Office of Economic Development
INCENTIVES To further accelerate job creation and economic development throughout the state, Utah leaders have established an array of incentive programs that target companies in key strategic industries for the state. All of these programs operate on a post-performance basis in order to spur company performance while assuring a positive ROI for Utah and its citizens. The Economic Development Tax Increment Financing (EDTIF) incentive was created to incent indigenous companies expanding in Utah, or companies outside the state relocating or developing new operations in the state to create high-paying jobs in Utah. The incentive generally runs 5-15 years, with a tax credit of up to 30 percent for the entire project. It is anticipated that this incentives will generate thousands of jobs, billions of dollars in new salaries and several hundred million dollars in state tax revenue annually. The State also administers the Renewable Energy Develpment Initiative (REDI) program which offers an incentive up to 100 percent tax credit for qualified renewable energy, manfacturing or production companies. The Utah Legislature and the Herbert Administration support the development of the state’s vibrant tourism and film industries, extending the reach of the state’s highly successful “Life Elevated” campaign. The Cooperative Marketing Program, offered by the Utah Office of Tourism, matches marketing dollars that enable organizations, communities and regions throughout the state to market their world-class attractions and amenities. Another impactful program, the Motion Picture Incentive Fund (MPIF) is a 25-percent, post-performance cash rebate or tax credit for all production dollars spent in the state. Since Stagecoach rode into Utah in 1920, a host of highly regarded films—from Thelma and Louise and Pirates of the Caribbean: World’s End to Disney’s record-breaking High School Musical series—have benefited from Utah’s extraordinary landscapes, architecture, and incentives. P3 Magazine recognized Utah as one of the “10 Top Locations Worldwide” for film, television, broadcast, commercial, documentary and music video production. For more information, please visit www.film.utah.gov. FAST-TRACKING RURAL BUSINESS IN UTAH During the past decade, GOED has provided a series of low-cost equipment leases, training programs, state income tax credits and other resources to help enterprising entrepreneurs establish companies in rural Utah that provide a variety of products and services for clients and business partners statewide, nationally and globally. Participating entrepreneurs and growth companies have created new high-quality jobs throughout the state. The U.S. Department of Commerce has recognized Utah’s Rural Fast Track program as the nation’s most innovative economic development regional initiative. GOED is also beginning to re-emphasize its B.E.A.R.-business expansion and relocation program across the state. BUSINESS RELOCATION AND Expansion Programs Business relocation and expansion programs, developed through a highlyproductive collaboration between the Governor’s Office of Economic Development (GOED) and the Economic Development Corporation of Utah (EDCUtah), have defied the current extended downturn by helping attract compelling expansion and relocation efforts in the Beehive State. In the past four years, their combined efforts helped secure approximately 100 relocation, retention or expansion projects to Utah, producing many thousands of high-quality jobs new jobs committed with billions of dollars in new capital investment in the state. This successful activity reinforces Utah government’s deep commitment to its people and companies, as it helps the private sector position the state as a place of unparalleled innovation and dynamism.
Organization Beaver County Economic Development Box Elder County Economic Development Cache Valley Chamber of Commerce Carbon County Future Daggett County Economic Development Davis County Economic Development Duchesne County Economic Development Emery County Economic Development Garfield County Economic Development Grand County Economic Development Iron County Economic Development Juab County Economic Development Agency Kane County Economic Development Millard County Economic Development Assoc. Morgan County Economic Development Piute County Economic Development Rich County- Bear Lake Regional Commission Salt Lake County- Economic Development San Juan County Economic Development Sanpete County Economic Development Assoc. Sevier County Economic Development Summit County Economic Development Tooele County Economic Development Uintah County Economic Development Utah County Business Development Wasatch County Economic Development Washington County Economic Development Council Wayne County Economic Development Weber County Economic Development Corp.
Address Phone 330 S. Main, P.O. Box 511 Beaver, UT 84713 (435) 438-6482 1 S. Main Street 3rd floor Brigham City, UT 84302 (435) 734-3397 160 N. Main Street, Rm. 102 Logan, UT 84321 (435) 752-2161 120 E. Main Street Price, UT 84501 (435) 636-3295 95 North 100 West P.O. Box 219 Manila, UT 84046 (435) 784-3218 28 E.State St., Rm. 221 P.O. Box 618 Farmington, UT 84025 (801) 451-3278 50 E. 200 South P.O. Box 1417 Roosevelt, UT 84066 (435) 722-4598 95 E. Main St., #107 P.O. Box 297 Castle Dale, UT 84513 (435) 381-5576 55 South Main Street P.O. Box 77 Panguitch, UT 84759 (435) 676-1157 217 E. Center Street Moab, UT 84532 (435) 259-5121 10 N. Main Street Cedar City, UT 84720 (435) 586-2770 160 N. Main Street, Rm. 102 Nephi, UT 84648 (435) 623-3415 76 N Main Street Kanab, UT 84741 (435) 644 4900 71 South 200 East P.O. Box 854 Delta, UT 84624 (435) 864-1407 48 W. Young St P.O. Box 886 Morgan, UT 84050 (801) 845-4065 550 N. Main Street P.O. Box 99 Junction, UT 84740 (435) 577-2949 69 N. Paradise Pkwy. P.O. Box 472 Garden City, UT 84028 (435) 946-2198 2001 S. State Street, Ste. S2100 Salt Lake City, UT 84190 (801) 468-2221 117 S. Main Street P.O. Box 490 Monticello, UT 84535 (435)587-3235 191 N. Main Street P.O. Box 148 Manti, UT 84642 (435) 835-4321 250 N. Main Street, Rm 10 Richfield, UT 84701 (435) 893-0454 1910 Prospector Ave.Suite 103 Park City, UT 84060 (435) 649-6100 47 S. Main Street Tooele, UT 84074 (435) 843-3160 152 East 100 North Vernal, UT 84078 (435) 781-6767 201 S. Main Street #2150 SLC, UT 84111 (801) 420-9109 475 N. Main Street Heber City, UT 84032 (435) 654-3666 1071 E. 100 S. Building C, Ste 7 St. George, UT 84770 (435) 652-7750 18 South Main Street P.O. Box 189 Loa, UT 84747 (435) 836-1315 2484 Washington Blvd., Ste. 400 Ogden, UT 84401 (801) 621-8300
Website www.beavercountyutah.org www.boxelder.org www.cachechamber.com www.carbon.utah.gov/econdev www.daggettcounty.org www.daviscountyutah.gov www.duchesne.net www.emerycounty.com www.garfield.utah.gov www.moabcity.org www.cedarcity.org www.co.juab.ut.us www.kane.utah.gov www.millardcounty-ecdev.com www.morgan-county.net www.piute.org www.richcountyut.org www.upgrade.slco.org www.utahscanyoncountry.com www.sanpete.com www.sevierutah.net www.parkcityinfo.com tooeleeconomicdevelopment.com www.co.uintah.ut.us www.edcutah.org www.gohebervalley.com www.dixiebusinessalliance.com www.waynecountyutah.org www.weberedc.com
For More Information: The Utah Governor’s Office of Economic Development 324 South State Street, Suite 500 Salt Lake City, Utah 84111 (801) 538-8700 www.business.utah.gov www.business.utah.gov
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