Rural Fast Track
The Rural Fast Track (RFT) Program is a post-performance grant available to small companies in rural Utah. The program provides an efficient way for existing, small companies to receive incentives for creating high paying jobs in the rural areas of the state and to further promote business and economic development.
*Applicant must work with and obtain a letter of support from local city or county economic development representative. The letter must confirm that the local economic developer has reviewed and is in support of the project, the project meets the criteria and explain how the project will promote business and economic development in the local community.
Applicants: Please view the application for eligibility
- Be located in a county of the third*, fourth, fifth, or sixth class as described in Utah Code Section 17-50-501
- Have been in business for at least two years.
- Have at least two full-time employees
- Enter into an incentive agreement with the Governor’s Office of Economic Development which specifies performance milestones.
- Demonstrate how the business development project will promote business and economic development in a rural county.
– Up to $50,000 for a qualifying business development project
- Create and retain for at least 12 months new high-paying jobs in a rural county.
– $1,000 for each new full-time job paying 110% of the county’s average annual wage
– $1,250 for each new full-time job paying 115% of the county’s average annual wage
– $1,500 for each new full-time job paying 125% of the county’s average annual wage
*Companies located in a county of the third class may not be located within a city that has a population of more than 20,000 or a median household income of more than $70,000.