From Deseret News archives:
Expanded tourism budget may be paying off for Utah
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On the business side of the equation, Jason Perry, executive director of the Governor's Office of Economic Development, told legislators that easier access to state incentives is needed to promote business and economic development in rural Utah.
"We're looking for opportunities to grow in-state businesses," Perry said. "We have a very good arm doing the recruiting. In terms of rural Utah, it's much more likely we're going to build a business than to recruit one."
Although the state's Industrial Assistance Fund, which offers companies economic incentives to relocate in Utah, allows the use of up to 50 percent of the fund for rural Utah companies, Perry said, "there is not an efficient way to provide access to these funds for very small rural Utah companies creating high-paying jobs."
Perry said his office will propose legislation that would create a "fast-track" program for rural companies that are located in a county of fewer than 30,000 people and have an average annual family income of less than $60,000.
Qualifying rural companies would receive $1,000 for each job that paid more than 110 percent of the county median wage, $1,250 for each job paying more than 115 percent of the county median wage or $1,500 for jobs paying more than 125 percent of the county median average.
Each rural business would have to have been in business for at least two years and have at least two employees. Rural companies located in 17 of Utah's 29 counties would qualify under the proposed program.
E-mail: danderton@desnews.com
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