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We have adopted an Economic Development
local incentive that makes available to qualifying companies an
expansion and relocation incentive.
The Iron County performance criteria are measured by looking at
a company new investment return to the Iron County community. The
investment return is calculated by considering the following benchmarks:
1. new jobs created
2. wage structure
3. building and property investment
4. equipment investment
5. pre-existing company with a strong financial history
The Cedar City/Iron County Economic Executive
Board will consider each project on a case-by-case basis with incentives
typically being paid out in a two to three year period. Some projects
do not fit the traditional incentive but, the Executive Board has
worked creatively to meet the needs of the client. Historically,
the community has shown its willingness to work with the customer
to find a solution that is entrepreneurial, aggressive and creative.
Job Training Assistance
Through the local Association of Governments, a company may qualify
for subsidized wages during the initial training. Up to 50 percent
of the first 500 hours can be credited. Contact Bob Cranford at Work
Force Services for further information. Phone: 435.865.6548,
wswced.rcranfo@state.ut.us.
Custom Fit Training or Short Term Intensive
Training
Administrated through our local Southern Utah University, custom-fit
training is available to assist with special needs. Training from
basic Zenger-Miller to specific highly skilled training can be
accommodated. University staff or even company instructors can set
up special programs to meet unique needs of new employees or continuing
staff. Contact Kristie McMullin 435.586.2899,
kmcmullin@swatc.org.
Other Low-Interest Loan Assistance
After a company has relocated to Iron County, the Economic Development
Department introduces companies to a variety of Small Business
Administration and state-assisted funding programs.
Project Review
In order to streamline the permit process the city offers a
one-stop review. All members of the process, from utility
companies to planning and zoning officials, meet to review the
project and make the permit process run as fast as possible so
that your project can run on time. The meetings are typically
held every 1st and 3rd Thursday at 10:00 a.m.
Small Business Development Center (SUU)
In cooperation with the Small Business Administration, the
State of Utah, Southern Utah University and its business
department hosts a center for small business development. The
center assists with establishing a business plan and discussing market strategy, tax issues, management
training, and assessments of existing businesses. These
counseling services are offered for free. Business
trainings are offered at a minimal cost. For more
information visit
http://www.suu.edu/business/sbdc or contact Craig Isom at
isom@suu.edu or Joni Anderson
at
andersonjoni@suu.edu
or call 435.586.5400.
Connections and City Fees
The cost for water hook-ups and other city permits are reasonable
and are determined by usage, the cost of labor and materials. Business
license fees are also reasonable. The city will waive hook-up fees
for the connection from the fire main to the fire protection system.
The water used to put out fire is un-metered. There is a reduction
in impact fees if your company retains storm water on site.
Industrial Assistance Fund
The Utah Department of Community and Economic Development has set
up a fund to assist certain industries who meet one of three criteria.
In 1991, the legislature established a corporate Industrial Assistance
Fund for substantial and extraordinary growth within the state.
The initial purpose of the incentive was to provide low-interest
loans to assist with the goal in achieving high economic impact
with larger corporate expansions. This would result in substantially
higher paying direct jobs, plus the use of small to mid-sized Utah
suppliers. In the future, these loans can become a grant when an
IAF recipient company meets its requirements of new jobs and increased
expenditures in Utah. There are three different IAF programs:
Corporate IAF Companies that spend a minimum
of $10 million per year for five years and have a return on investment
that is 19.4 times the investment as shown by the Governor's Office
Fiscal Impact Model.
Rural IAF Companies relocating to economic disadvantaged rural
areas which includes Iron County areas outside a 20 mile radius
of Cedar City. Parowan is included in this fund.
Targeted Industry IAF Information technology, biomedical, and
aerospace industries are several important, targeted industries
with "high quality jobs." The IAF fund will consider
applications where the expansion is extraordinary, the average
salary is 130% of the county average, and the expansion would
result in a minimum return on investment of 10 times. For more
information on the IAF Fund contact John R. Homer, Administrator
of the Industrial Assistance Fund at 801.538.8716 or Fax 801.538.8888.
Procurement Assistance
The state of Utah has a procurement program that allows Utah
companies to look over the government's requests for materials
or services. The state also has special contacts with private
industry procurement needs and refers them to Utah companies.
For more information on this program contact Joni Anderson of
the Utah Procurement Technical Assistance Center at
435.586.5400,
andersonjoni@suu.edu.
International Development Assistance
The Governors Office of Economic Development has an
International Development Group with offices in Europe, Asia, South
America & the Middle East. This group also has state-side representatives
who help prepare Utah companies for doing business in other countries
and getting Utah products into global markets. They will also work
to put on local conferences discussing international opportunities.
For more information contact Adam Walden at 1-801-538.8737,
awalden@utah.gov.
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