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Government

Utah derived its nickname—the Beehive State—from its deep-seated tradition of economic activity and vitality. Governor Gary R. Herbert has fostered this tradition, positioning Utah as one of the nation’s most vibrant and promising economies.

 

County Economic Development offices

  • Beaver County Economic  Development 105 East Center Street, P.O. Box 789 Beaver, UT 84713 (435) 438-6490 beaver.utah.gov
  • Box Elder County Economic Development 01 South Main Street Brigham City, UT 84302 (435) 734-3331 boxeldercounty.org
  • Cache Valley Chamber of Commerce 160 North Main Street, Suite 100 Logan, UT 84321 (435) 752-2161 cachechamber.com
  • Carbon County Economic Development 120 East Main Street Price, UT 84501 (435) 636-3295 carbon.utah.gov/econdev
  • Daggett County Economic Development 95 North 100 West Manila, UT 84046 (435) 784-3218 daggettcounty.org
  • Davis County Economic Development 61 South Main Street Farmington, UT 84025 (801) 451-3278
  • Duchesne County Economic Development 50 East 200 South Roosevelt, UT 84066 (435) 722-4598 uintabasin.org
  • Emery County Economic Development 95 East Main St., #297 Castle Dale, UT 84513 (435) 381-5576 emerycounty.com
  • Garfield County Economic Development 55 South Main Street Panguitch, UT 84759 (435) 676-1100 garfield.utah.gov
  • City of Moab Economic Development 217 East Center Street Moab, UT 84532 (435) 259-5121 moabcity.org
  • Cedar City – Iron County Economic Development 10 North Main Street Cedar City, UT 84720 (435) 586-2770 cedarcity.org
  • Juab County Economic Development Agency 160 North Main Street, Room 102 Nephi, UT 84648 (435) 623-3415 juabbusiness.com
  • Kane County Economic Development 30 North Main Street, Suite 201 Kanab, UT 84741 (435) 616-5858 kane.utah.gov
  • Millard County Economic Development Assoc. 71 South 200 West Delta, UT 84624 (435) 864-1407 millardcounty-ecdev.com
  • Morgan County Economic Development (Better City) 48 West Young St Morgan, UT 84050 (801) 920-0000 morgan-county.net
  • Piute County Economic Development 550 North Main Street Junction, UT 84740 (435) 577-2949 piute.org
  • Rich County – Bear Lake Regional Commission 69 N. Paradise Pkwy. Building B Garden City, UT 84028 (435) 946-2198 bearlakeregionalcommission.org
  • Salt Lake County Economic Development 2001 S. State Street, Ste. S2100 Salt Lake City, UT 84114 (385) 468-4866 upgrade.slco.org
  • San Juan County Economic Development 117 S. Main Street P.O. Box 490 Monticello, UT 84535 (435) 587-3235 utahscanyoncountry.com
  • Sanpete County Economic Development Assoc. 191 North Main Street Manti, UT 84642 (435) 835-4321 sanpete.com
  • Sevier County Economic Development 250 North Main Street, Rm 116 Richfield, UT 84701 (435) 893-0454 sevierutah.net
  • Summit County Economic Development P.O. Box 128 Coalville, UT 84017 (435) 336-3220 summitcounty.org
  • Tooele County Economic Development 47 South Main Street Tooele, UT 84074 (435) 843-3150 co.tooele.ut.us
  • Uintah County Economic Development 152 East 100 North Vernal, UT 84078 (435) 781-6767 vernalutah.org
  • Utah County Business Development 815 West 1250 South Orem, UT 84058 (801) 863-7546 utahvalleydata.com
  • Heber Valley Tourism and Economic Development 475 North Main Street Heber City, UT 84032 (435) 654-3666 gohebervalley.com
  • Washington County Economic Development Council 1071 E. 100 S. Building C, Ste 7 St. George, UT 84770 (435) 652-7750 siteselectplus.com
  • Wayne County Economic Development 18 South Main Street P.O. Box 189 Loa, UT 84747 (435) 836-1315 waynecountyutah.org
  • Weber County Economic Development Corp. 2380 Washington Blvd., Ste. 250 Ogden, UT 84401 (801) 399-8414 weberedp.com

Highlights

  • Utah ranked No. 1 by Forbes as “Best State for Business and Careers” 2010, 2011 and 2012; the state ranked No. 3 on the list in 2013.
  • Pollina Corporate Real Estate, a gold standard for evaluating states, issued Utah its first No. 1 ranking in 2012 and 2013.
  • Utah ranked No. 5 in CNBC’s “America’s Top States for Business 2013.” The state ranked at No. 4 for “Business Friendliness” and at No. 4 as a “Top State for Starting a Business.”
  • Thumbtack.com and the Ewing Marion Kauffman Foundation ranked Utah No. 1 for “Small Business Friendliness.”
  • U.S. Chamber of Commerce’s 2013 “Enterprising States” report ranked Utah highly in several categories: overall performance (No. 3), short- and long-term job growth (No. 2), gross state product growth (No. 3), export growth and intensity (No. 3), and business “birthrate” (No. 3).
  • The Information Technology and Innovation Foundation’s (ITIF) 2012 State New Economy Index ranked Utah 8th overall in technology-based economies, including top rankings in economic dynamism, inventor patents, e-government and online population.

 

Visionary Leadership

Under the leadership of Gov. Gary R. Herbert, Utah has become one of the nation’s strongest states, boasting a low unemployment rate, sound economic growth and a strategic plan for prosperity. Gov.

  • Gary R. Herbert was listed at No. 3 among governors for job creation in 2013.
  • During Gov. Herbert’s administration, Utah achieved an annual job growth rate of 2.61 percent, compared to the national average 1.53 percent.
  • The Washington Post recently proclaimed Gov. Herbert the “most popular” governor in the country.
  • The state maintains an AAA bond/credit rating from Moody’s, Fitch and Standard & Poor’s—one of only seven states to achieve this rating.
  • USA Today ranked Utah as the No. 5 “Best Run” state in America in 2013.

Strategic Leadership: 100,000 Jobs in 1,000 Days

In late 2011, Gov. Gary R. Herbert announced a goal for the state to create 100,000 jobs in 1,000 days through the support of private-sector efforts. So far, the state is on track to meet that ambitious goal, with 97,300 jobs created since November 2011.

Strategic Investments

USTAR

The Utah Science Technology and Research initiative (USTAR) is a long-term, state-funded investment to strengthen Utah’s “knowledge economy.” This initiative invests in world-class innovation teams and research facilities at the University of Utah (U) and Utah State University (USU), to create novel technologies that are subsequently commercialized through new business ventures. Launched in 2006, USTAR has already begun demonstrating a return on investment:

  • More than 50 top scientists and engineers have been recruited to Utah research universities.
  • These researchers have garnered $285 million in new, external funding.
  • The University of Utah and Utah State University each constructed a new, state-of-the-art research facility.

Technology Commercialization and Innovation Program (TCIP)

The TCIP is a state-funded grant and mentoring program that was developed to commercialize cutting-edge technologies developed at Utah’s colleges and universities, by entrepreneurs and in small businesses. Managed by GOED, the TCIP provides grants for technologies that show promise of commercial success. Please visit http://business.utah.gov/programs/tcip/ for more information.

Utah Capital Investment Corporation – UCIC
(formerly the Utah Fund of Funds)

The UCIC is a $300 million economic development program aimed at enhancing access to alternative or non-traditional capital for Utah entrepreneurs. The Utah Fund of Funds does not invest money into any company or individual, but rather invests in venture capital and private equity funds (both inside and outside of Utah) that commit to establishing a working relationship with UCIC and Utah’s startup and business community, and commit to making investments in qualifying companies.

  • Since its inception, UCIC partner funds have invested $723 million in 67 separate Utah companies.
  • These investments have created more than 2,700 new Utah jobs and contributed more than $35 million in new tax revenue to the state.
  • The UCIC has partnered with 28 qualified venture capital and private equity firms, including eight that are headquartered in Utah.

 

Business-building Incentives

EDTIF Tax Credit

  • The Economic Development Zone Tax Increment Finance (EDTIF) is used for projects in specific targeted industries.
  • EDTIF is a post-performance, refundable tax credit for up to 30 percent of new state revenues (sales, corporate and withholding taxes paid to the state) over the life of the project (ranging from five to 20 years).
  • It is available to companies seeking expansion or relocation of operations in Utah.
  • The incentive is based on job creation for jobs paying higher than county median wages and is a post-performance award.
  • Companies must meet several requirements to receive this incentive.

Custom Fit

Funds for employee training are available for qualified companies; the program is administered generally through state colleges and state applied technology centers.

Rural Development

  • Businesses within an Enterprise Zone can claim state income tax credits for investing in depreciable machinery and equipment, creating new, above-average-wage jobs, and rehabilitating older facilities.
  • In 2013, more than $12.3 million in credits were awarded, coupled with significant private business investment in rural Utah.
  • The Rural Fast Track program (RFT) provides training programs, infrastructure development, state income tax credits and other resources to build stronger business communities in rural areas.
  • The Business Expansion and Retention (BEAR) program assists with economic, workforce and community development in Utah’s 25 rural counties.
  • GOED’s Business Resource Centers (BRCs) are partnerships that include Small Business Development Centers (SBDC), USTAR, Procurement Technical Assistance Centers (PTAC) as well as microloan organizations and business incubators within Utah’s chambers and local economic development offices.

Motion Picture Incentive Program

Production companies may qualify for an incentive through this program, which is intended to develop a strong motion picture industry presence in Utah.

  • The program is a post-performance, fully refundable tax credit of production dollars spent in Utah.
  • An approved project spending a minimum of $1 million in Utah can be rebated 20 to 25 percent (if certain conditions are met) on every dollar spent in the state.

Utah’s record of economic dynamism extends throughout the state’s cities and counties.

  • Two cities named in “Top Five Best Performing Cities for Business” by Milken Institute in 2013: Provo (No. 2) and Salt Lake City (No. 5).
  • Provo City was ranked No. 2 on Forbes’ list of “Best Places for Business and Careers;” Salt Lake City ranked No. 12.
  • Three Utah cities were listed among the “6 Top Cities for High-Paying Jobs” by Payscale in 2013: Salt Lake City (No. 1), Provo-Orem (No. 5) and Ogden-Clearfield (No. 6).

International Connectivity

The Governor’s International Trade and Diplomacy Office (ITDO) assists Utah companies in developing markets for their products and services in foreign countries.

  • In FY2013, ITDO provided assistance to about 700 companies through individual meetings.
  • ITDO trained more than 1,500 individuals on international trade issues through more than 50 training events.
  • It facilitated eight trade missions to various countries, such as Mexico, Thailand and Indonesia.
  • The organization also coordinated a Governor-led trade mission to Tel Aviv, Jerusalem and Ramallah in April 2013.
  • ITDO helped host more than 20 Ambassadors and Consul Generals from around the world.
  • GOED and ITDO also work closely with World Trade Center Utah (WTC Utah) to enrich and develop Utah’s global network. WTC Utah is a licensed and certified member of the World Trade Centers Association headquartered in New York City.

 

County Economic Development Offices

  • Beaver County Economic  Development 105 East Center Street, P.O. Box 789 Beaver, UT 84713 (435) 438-6490 beaver.utah.gov
  • Box Elder County Economic Development 01 South Main Street Brigham City, UT 84302 (435) 734-3331 boxeldercounty.org
  • Cache Valley Chamber of Commerce 160 North Main Street, Suite 100 Logan, UT 84321 (435) 752-2161 cachechamber.com
  • Carbon County Economic Development 120 East Main Street Price, UT 84501 (435) 636-3295 carbon.utah.gov/econdev
  • Daggett County Economic Development 95 North 100 West Manila, UT 84046 (435) 784-3218 daggettcounty.org
  • Davis County Economic Development 61 South Main Street Farmington, UT 84025 (801) 451-3278
  • Duchesne County Economic Development 50 East 200 South Roosevelt, UT 84066 (435) 722-4598 uintabasin.org
  • Emery County Economic Development 95 East Main St., #297 Castle Dale, UT 84513 (435) 381-5576 emerycounty.com
  • Garfield County Economic Development 55 South Main Street Panguitch, UT 84759 (435) 676-1100 garfield.utah.gov
  • City of Moab Economic Development 217 East Center Street Moab, UT 84532 (435) 259-5121 moabcity.org
  • Cedar City – Iron County Economic Development 10 North Main Street Cedar City, UT 84720 (435) 586-2770 cedarcity.org
  • Juab County Economic Development Agency 160 North Main Street, Room 102 Nephi, UT 84648 (435) 623-3415 juabbusiness.com
  • Kane County Economic Development 30 North Main Street, Suite 201 Kanab, UT 84741 (435) 616-5858 kane.utah.gov
  • Millard County Economic Development Assoc. 71 South 200 West Delta, UT 84624 (435) 864-1407 millardcounty-ecdev.com
  • Morgan County Economic Development (Better City) 48 West Young St Morgan, UT 84050 (801) 920-0000 morgan-county.net
  • Piute County Economic Development 550 North Main Street Junction, UT 84740 (435) 577-2949 piute.org
  • Rich County – Bear Lake Regional Commission 69 N. Paradise Pkwy. Building B Garden City, UT 84028 (435) 946-2198 bearlakeregionalcommission.org
  • Salt Lake County Economic Development 2001 S. State Street, Ste. S2100 Salt Lake City, UT 84114 (385) 468-4866 upgrade.slco.org
  • San Juan County Economic Development 117 S. Main Street P.O. Box 490 Monticello, UT 84535 (435) 587-3235 utahscanyoncountry.com
  • Sanpete County Economic Development Assoc. 191 North Main Street Manti, UT 84642 (435) 835-4321 sanpete.com
  • Sevier County Economic Development 250 North Main Street, Rm 116 Richfield, UT 84701 (435) 893-0454 sevierutah.net
  • Summit County Economic Development P.O. Box 128 Coalville, UT 84017 (435) 336-3220 summitcounty.org
  • Tooele County Economic Development 47 South Main Street Tooele, UT 84074 (435) 843-3150 co.tooele.ut.us
  • Uintah County Economic Development 152 East 100 North Vernal, UT 84078 (435) 781-6767 vernalutah.org
  • Utah County Business Development 815 West 1250 South Orem, UT 84058 (801) 863-7546 utahvalleydata.com
  • Heber Valley Tourism and Economic Development 475 North Main Street Heber City, UT 84032 (435) 654-3666 gohebervalley.com
  • Washington County Economic Development Council 1071 E. 100 S. Building C, Ste 7 St. George, UT 84770 (435) 652-7750 siteselectplus.com
  • Wayne County Economic Development 18 South Main Street P.O. Box 189 Loa, UT 84747 (435) 836-1315 waynecountyutah.org
  • Weber County Economic Development Corp. 2380 Washington Blvd., Ste. 250 Ogden, UT 84401 (801) 399-8414 weberedp.com