Business Resource Centers: Entrepreneurial Development

partners who are federal, state, county, city, public or private business service providers

THOUSANDS of unique business customers have visited Utah BRCs, creating or retaining HUNDREDS of jobs and starting more than 100 businesses! In addition, more than 10,000 business personnel have visited business partners operating out of the BRCs

Currently there are 14 Business Resource Centers (BRC) operating across Utah

For BRC contact information, see Resource Section at back of report.

• Cache BRC in Logan • Box Elder County BRC in Brigham City • North Front BRC in Kaysville • Zions BRC in Salt Lake City • Tooele BRC in Tooele • Park City BRC in Park City • Heber Valley BRC in Heber City • Salt Lake Community College BRC in Sandy • Utah Valley University BRC in Orem • Uintah Basin BRC in Vernal • Castle Country BRC in Price • Moab BRC in Moab • Southern Utah University BRC in Cedar City • Dixie BRC in St. George

Tooele County Business Resource Center

For additional information about Business Resource Centers visit business.utah.gov or contact Kevin Jessing, Life Science Cluster Director, at kjessing@utah.gov

OVERVIEW

U.C.A. 63M-1-901–910 IAF U.C.A. 63M-1-2401–2409 EDTIF

The mission of Corporate Recruitment and Business Services (CRBS) is to “increase the number of quality jobs in Utah and increase new State revenue by helping existing companies expand and by recruiting new companies to the State ”

Financial incentives are available for business relocation and expansion for select companies that create new, high-paying jobs to help improve the standard of living, increase the tax base, attract and retain top-level management, and diversify the state economy

Incentives are offered as either tax credits or grants The incentive amount and duration is decided by the GOED board and executive director based on statutory guidelines and evaluation criteria including the financial strength of the company, the number and salary of jobs created, amount of new state tax revenue, long-term capital investment, competition with other locations and whether the company is a headquarters or in a targeted cluster

Incentives are based on the following “three pillars of success and sustainability:” 1 Post-performance — Incentives are disbursed after the company has met contractual performance benchmarks, such as job creation and payment of new state taxes

2 Single Taxpayer — Incentive amounts are based on new state taxes generated by the project 3 Competition — Incentives must make Utah competitive with other locations

Private Activity Bond Authority,

U.C.A 63M-1-3001–3009

The Private Activity Bond Authority Review Board is charged with managing the State’s volume cap for the following programs: Private Activity Bond Authority Program (PAB) and the Qualified Energy Conservation Bond Program (QECB) PAB is Utah’s tax-exempt bonding authority for creating a lower-cost, long-term source of

Liberty Village, an affordable low-income multifamily housing development located in Sugarhouse, financed with Private Activity Bonds.