From Deseret News archives:
State money sought to aid rural firms
Now, rural economic development leaders say, the Legislature should allocate $2 million from the state's general fund to keep the program going in Carbon, Emery, Grand and San Juan counties and expand it into Duchesne, Uintah and Daggett counties.
A review conducted by the the state's Office of Legislative Auditor General found that the Southeast Utah Small Business Investment Fund helped give life to atypically successful businesses and created jobs (albeit not always high-paying ones) in rural Utah. Launched in October 2001, the program provides seed capital to help cover business start-up expenses for low-income participants who complete business training, agree to mentoring and submit a business plan for review. It was administered by the Southeast Utah Association of Local Governments and other volunteers.
According to the Auditor General's report, the program is meeting with some success. In 2006, the audit found that 52 of 79 businesses (66 percent) created under the program were still operational and successful with "success" defined as a business operating at a higher level than a profitable hobby.
From a sample of 22 businesses, the audit found that about 59 jobs had been created as a result of the program by the end of 2005, up from 48 in 2004. While those jobs were generally below county averages the majority of participants reported making less than $25,000 per year the audit said the jobs created did not appear to be ones that typically displaced other jobs in the county.
"We believe that the SEUSBIF program created an economic benefit for rural counties in southeastern Utah," the report stated. "While dollars infused into the economy and jobs created provided moderate economic benefit, there appeared to be a positive impact for families who were living on low wages."
Comments
- Mavs' Nowitzki hits fallaway winner 9:12 p.m.
- Kings rally past Panthers in SO 9:03 p.m.
- Guerin sparks Penguins past Ducks 8:44 p.m.
- Voracek lifts Blue Jackets past Oilers 8:42 p.m.
- Hawks beat Blazers in OT 8:40 p.m.
- Ravens, Browns scoreless at halftime 8:38 p.m.
- Jazz rookies a bit more seasoned 8:35 p.m.
- Tepanyaki will pay $30K settlement 8:30 p.m.
- Nu Skin milestone at NYSE 8:30 p.m.
- GM to pay back $6.7B debt to gov't 8:29 p.m.
- MWC expand? Get rid of deadweight
- Relieved Cougs prep for Falcons
- Wounded Utes limp home
- Jazz rookies had to grow up quickly
- Big games keep UHSAA coffers full
- Barzee to plead guilty
- Sloan misses practice
- RSL surprised by Chicago's Fire
- Vitamin D deficiency puts U.S. at risk
- Jazz notes: Young bigs ride bench
- TCU creams U.
233 - BYU happy to escape with victory
232 - Editorial: Mormons and gay rights
225 - Will state consider gay rights law?
162 - RSL heads to MLS title game
134 - Can BYU root for (ick) Utah Utes?
132 - MWC expand? Get rid of deadweight
117 - TCU stays 4th in AP; Y. 19th, U. 23rd
115 - 5A: Bingham rolls to title game
108 - 3A: Hurricane advances to title game
89
The Gateway, 400 W. 200 South, will kick off the holiday shopping season...
I was a bit under the weather last week, which gave me some time to...
As someone who grew up just a short drive away from Denmark I can tell you...
You are the only one on the planet that can not see the gratness of Mathews!...
37th! Take that Utes
Teachers make such pathetic wages. The least we can do is allow them to...
I know exactly what I'm going to write mine on. This is such a great...
Elder Taylor, son of the deceased, is an outstanding young man and missionary...
I was extremely happy to see Bingham beat Alta in the playoffs after two...
What amazes me is that none of these "smart" sports writers fail to see how...
"One day however" thanks for your contributions...maybe one day the people...
I'm all for civil rights, but what is a religion doing invoking their ideals...


You can be the first to comment on this story.