Rural Development
T
he Rural Development Program Mission is to unite and support Utah’s rural communities in economic development. This is accomplished through direct involvement and through economic development partners. Rural Partners The Rural Office through the Governors Rural Partnership Board, with representation from business, industry, and local government throughout the state raises awareness about rural development needs, defines economic barriers and brings these issues to light with the Governor, Utah Legislature and other state and federal agencies. The top issues in 2009 are business infrastructure and business resource centers. To view the entire report, go online to http://goed.business.gov/programs/ rural-development/GPRB.
Paiute Trailer, Richfield Utah, an example of the many rural Utah companies who produce high quality products.
USU Extension has partnered with GOED in many seminars, workshops and coordinated programs. Quarterly, the Rural Office hosts a statewide internet webcast. Topics have centered around Utah’s manufacturing sector, Utah’s Own Program, the federal stimulus programs, Senator Bennett’s federal update, and renewable energy. The Rural Office continues to support the statewide network of local economic development professionals, rural communities and counties and the Center for Rural Life which organizes the Annual Rural Summit. Other partners are also mentioned later on in this report. Utah Petroleum Association and the State Energy Office partner with the Rural Office regarding energy issues. All types of energy development, traditional and renewable are the cornerstone of the State of Utah and will be for it and the nation in the future. A new GOED program, Renewable Energy Development Incentives (REDI) work closely with the rural office and all its partners. Business and Economic Development Assistance The Rural Office continues to focus on business development and manages several legislative mandated programs that provide local assistance to business listed below. They work with other entities for a comprehensive business assistance program. These include local revolving loan funds, Small Business Development Centers, SBA business programs, USDA, Utah Science and Research, certified development companies, Custom Fit training and Utah’s Manufacturing Extension Partnership. Utah Code Ann. § 63M-1-403. Enterprise Zones Enterprise Zones were reauthorized for 10 years during the 2009 Legislative Session. These locally planned zones allow expanding businesses nonrefundable income tax credits for investing in plant and depreciable equipment, creating new above average wage jobs, the rehabilitation of older facilities and providing health insurance. In 2007 just over $5M of tax credits were given and it is estimated to equal over 60 million of business investment in the rural Utah. 32
Total Enterprise Tax Credits
Governor’s Office of Economic Development • Annual Report 2009
