To help support Utah’s energy businesses, the Utah Legislature set aside $5 million in federal CARES Act funds for a new Oil, Gas and Mining Grant. The program, managed by the Governor’s Office of Economic Development (GOED) in collaboration with the Governor’s Office of Energy Development, begins accepting applications on Sept. 15, 2020, at 9 a.m. (MDT).
Companies in the oil, gas and mining industries that have incurred expenses due to the public health emergency related to COVID-19 are eligible to participate in the new grant program.
“This is a unique grant that, working with the Governor’s Office of Energy Development, we’re excited to provide to businesses in the important oil, gas and mining industries,” said Val Hale, GOED’s executive director. “COVID-19 has brought challenges to many industries in our state, and we’re grateful the Legislature allocated federal CARES Act funds for this new grant program.”
To be eligible for the OGM Grant, businesses must:
- Be substantially involved in the extraction of oil, gas, or minerals in Utah or directly provides services to oil, gas, or mining businesses in Utah
- Have experienced Utah revenue decline related to COVID-19
- Have employees physically located in Utah
- Have fewer than 250 full-time equivalent Utah employees
- Establish that the use of funds will benefit the Utah state economy
Required documentation includes:
- A completed and signed W-9
- A Profit & Loss statement for March to June 2019 for Utah operations if the business began operating before July 1, 2019; or a February 2020 Profit & Loss statement for Utah operations if the company began operating on or after July 1, 2019
- A Profit & Loss statement for Utah operations from March to June 2020
Companies can set-up a GOED grant application account now if they haven’t already participated in a GOED COVID-19 grant program, so they’re prepared to submit required documentation and complete their application on Sept. 15.
Completed applications are accepted on a first-come, first-served basis. The application process will remain open until all grant funds are used. A request for a grant is not a guarantee of funding.