Deadlines Approaching FAST for Business Grants

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Press Release

Price, Utah—Carbon County business owners could miss their opportunity to apply for a Rural Fast Track Grant and the Target Business Tax Credit this fiscal year.

One program available to businesses in Carbon County is the Targeted Business Tax Credit – Community Impact Project applications for the 2017-2018 cycle. Each year, GOED can award up to $300,000 (no more than $100,000 per business) to qualifying businesses that make the greatest economic impact in their Enterprise Zone Area via capital investment in their business and hiring new, well-paid, local employees. First year of tax credits is $50,000, second year $25,000 and third year $25,000. The deadline for applications is 5 p.m. on June 1, 2017.

“The Governor’s Office of Economic Development has opened dates to apply for the Targeted Business Tax Credit. If your company is interested in applying, please give me a call or email to set up an appointment so I can explain the program and information concerning requirements to participate,” stated Tami Ursenbach, Carbon County Economic Development Director. Ursenbach continued, “Also, please feel free to refer any local business that is ready to make significant growth and may be interested in applying.”

Another program available is the Rural Fast Track Grant (RFTG) is a post-performance grant available to small companies in rural Utah. The program provides an efficient way for existing small companies to receive incentives for creating high-paying jobs in rural areas of the state and to further promote business and economic development. This provides an opportunity for small companies in rural Utah to receive support and to encourage them to grow and help their local economy.

The RFTG is on a July to June fiscal year, and the funds that were allocated for 2016-2017 will expire at the end of June. There is still monies available for this fiscal year but a business needs to get their application in as soon as possible. The next full application deadline for the RFTG is May 26, 2017.

For more information about either program or to schedule a meeting with Ursenbach, email tami.ursenbach@carbon.utah.gov or call (435) 636-3294, or her assistant Rita Vigor at rita.vigor@carbon.utah.gov or (435) 636-3295.