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GOED Board Approves Grants to Help Eight Rural Businesses

May 19 2016 - 9:02 am

News Release
For Immediate Release

Contact:
Aimee Edwards
GOED Communications Director
(801) 538-8811 Office
(801) 755-3085 Cell
edwards@utah.gov

GOED Board Approves Grants to Help Eight Rural Businesses
Rural Fast Track grants tied to 84 jobs, $1.9 million in capital investment in five counties

SALT LAKE CITY (May 19, 2016)— The Governor’s Office of Economic Development (GOED) Board of Directors last week approved eight rural Utah businesses for Rural Fast Track grants.

This marks the largest number of rural companies to advance in a single board meeting. The eight projects are expected to create up to 84 new jobs paying between 110 and 125 percent of the counties’ average wages.

“One of our goals is to grow and support Utah businesses in both rural and urban communities,” said Val Hale, GOED executive director. “We use programs like Rural Fast Track to maintain the entrepreneurial spirit in communities statewide, and these eight fast-growing companies are a great example.”

The projects also represent a record level of private investment. In aggregate, more than $300,000 in post-performance grant funding will be matched by $1.9 million in private investment.

“The private sector is making important investments in rural Utah,” said Linda Gillmor, director of the Office of Rural Development. “GOED provides post-performance incentives to support rural economic growth, but we see true success with investment like this. The five-to-one matching ratio is remarkable.”

Rural Fast Track grants are post-performance matching funds available to small businesses in qualifying Utah counties. Aimed at creating high-paying jobs, this program provides an efficient way for rural companies to purchase necessary equipment, create new positions or reach other goals to grow their business. To learn how to apply, visit business.utah.gov/programs/rural/.
Read below about each of the eight approved projects.

  • Gunnison, Sanpete County: Applied Composite Technology (ACT) Aerospace designs and manufactures parts for the aerospace industry with a prime focus on advanced composite structures. The $50,000 grant is for purchasing equipment and expanding/altering facilities to meet the needs of new helicopter and aircraft contracts they have secured. The company expects to create 15 new full time positions paying at least 110 percent of the county average wage, 20 new full-time positions paying at least 115 percent and 10 new full-time positions paying at least 125 percent of the county average wage. In total, they will create 45 new full-time positions. The company’s investment is estimated at $160,140.

 

  • Ephraim, Sanpete County: Diamond S Manufacturing designs and manufactures custom, handmade snowmobiles and snowmobile parts, specializing in titanium mufflers. They also build titanium bicycles. The $50,000 grant is for purchasing a water jet cutting machine to increase production, streamline processes, expand into new markets, and offer water jet cutting services to other local businesses. The company expects to create one new full time position paying at least 110 percent of the county average wage. The company’s investment is estimated at $146,320.

 

  • Pleasant, Sanpete County: Far West Construction specializes in the design, manufacturing and assembling of prefabricated homes and barns. They specialize in wood panelizing framing techniques, CAD design, engineering and onsite construction. The $50,000 grant is constructing a manufacturing facility to increase production capabilities and bring more design and engineering operations in house. The company expects to create three new full time positions paying at least 110 percent of the county average wage, two new full-time positions paying at least 115 percent and one new full time position paying 125 percent. The company’s investment is estimated at $294,905.

 

  • North Logan, Cache County: Ophir-Spiricon, LLC, manufactures laser measuring and calibration instruments and sells them globally. The $33,000 grant is for an expansion project to convert empty warehouse space into manufacturing, R&D, and office space. The company expects to hire 26 new full time positions, with six being paid at least 110 percent of the county average wage, 12 at 115 percent and eight at 125 percent. The company’s investment is estimated at $679,140.

 

  • Hyrum, Cache County: Bywater Products provides cabinets and millwork for local homes and commercial projects as well as supplies other wood shops with cabinets and millwork components. The $50,000 grant is purchasing equipment used to offer new services and product lines, as well as to streamline the manufacturing process. The company expects to create three new full time positions, with two being paid at least 110 percent of the county average wage and one being paid 115 percent. The company’s investment is estimated at $136,517.

 

  • Helper, Carbon County: Waste and Water Logistics handles a variety of waste disposal services, including portable toilets, septic tank pumping, sewer inspection, roll off dumpsters, drain cleaning, video pipe locating, and septic system repair and installation. The $50,000 grant is for purchasing equipment used to expand the services they offer, including a main line sewer camera that can be used to inspect industrial and municipal lines. The company expects to create one new full time position being paid at least 110 percent of the county average wage. The company’s investment is estimated at $154,169.

 

  • Green River, Emery County: High Desert Excavation provides site preparation and remediation services for residential, commercial and industrial construction projects. They also own and operate a concrete batch plant, sand and gravel pits, demolish transports, provide trenching, and pipe laying services. The $50,000 grant is for constructing a new facility to house a shop and maintenance area as well as office space for day-to-day operations. The company expects to create one new full time position paying at least 115 percent of the county average wage. The company’s investment is estimated at $145,792.

 

  • Delta, Millard County: Dutson Supply Company manufactures and sells ready-mix concrete to construction companies and contracts around central Utah. The $25,000 grant is for purchasing a service vehicle that will enable the company to go on-site to repair their disabled trucks and have all the necessary tools on-hand. The company expects to create one new full time position being paid at least 110 percent of the county average wage. The company’s investment is estimated at $109,664. 

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About the Utah Governor’s Office of Economic Development (GOED)
business.utah.gov
The Governor’s Office of Economic Development (GOED) charter is based on Gov. Gary R. Herbert’s commitment to statewide economic development. The state’s economic vision is that Utah will lead the nation as the best performing economy and be recognized as a premier global business environment and tourist destination. GOED provides extensive resources and support for business creation, growth and recruitment statewide, as well as programs to increase tourism and film production for the benefit of Utah residents. All administered programs are based upon strategic industry clusters to develop a diverse, sustainable economy. GOED accomplishes its mission through unprecedented partnerships. For more information please contact: Aimee Edwards, (801) 538-8811 or edwards@utah.gov.