May 8, 2008

   A Publication of the Economic Development Corporation of Utah
CEO Jeff Edwards

President's Message

Match Grants Program Helps at Grass Roots Level
 

EDCUtah works hard to develop relationships with site selectors and industry leaders in an effort to further Utah's economic opportunities. All of that work however, would go to waste if our local communities were not prepared to handle the projects we bring to the table.

Throughout the State, many communities are working to become stronger resources for economic development at the grassroots level. Today's feature article focuses on EDCUtah's efforts to raise funds for its matching grant program, a financial assistance program available to communities throughout Utah, interested in expanding specific economic development initiatives.

This year's fundraising initiative, the Golf for Grants Tournament, has already seen success via substantial contributions from Platinum Sponsor CB Richard Ellis, as well as Gold Sponsors Price Realty Group, Qwest and SelectHealth.

Today's Economic Review also includes links to many of the ED-related news stories from the past week. As always, if you have comments, suggestions or topics you'd like to see in the Economic Review, please contact us by clicking the ?Comments? button on the bottom of this page. Enjoy!

Jeff Edwards

Jeff Edwards
President and CEO

Golf for Grants Tourney helps fund EDCUtah's Match Grants Program

Feature

Reservations for 2008 EDCUtah Match Grants Golf Tournament Sponsorships are Now Complete


Economic development news often focuses on the large, flashy projects that create compelling headlines in local news media outlets. Behind the scenes, however, many Utah communities are quietly expanding their economic development bases through the Community Match Grants Program, which is funded annually via EDCUtah's Golf for Grants Tournament and the generous support of its sponsors.

This year's Golf for Grants Tournament is slated for June 4 at the Wasatch Mountain State Park ? Mountain Course, with a shotgun start at 7:30 a.m. It's an exciting opportunity to join EDCUtah's many partners in some friendly golf competition while raising money for the Community Match Grant Program.

?EDCUtah is grateful to our Platinum sponsor, CB Richard Ellis, for helping to make this event happen; to the Gold sponsors: SelectHealth, Price Realty Group and Qwest; and to the many other partners that give so generously to the tournament,? says Arthur Franks, EDCUtah's Director of Membership.

The Community Match Grant Program has become an important economic development tool that supports grassroots economic development efforts by Utah's cities, counties and other non-profit organizations. Last fall EDCUtah awarded approximately $45,000 in matching funds for the 2007-2008-grant year.

?Every year EDCUtah receives dozens of grant requests,? says Franks. ?Through the generous support of Golf for Grants sponsors we are able to raise enough money to fund many worthwhile projects at the local level.? Since the programs inception 20 years ago, EDCUtah has awarded more than $700,000 in matching grants.

Regarding the Community Match Grant Program, EDCUtah offers three grant types and is encouraging applications for the upcoming grant cycle this fall:

  • Marketing Match Grant ? provides matching funds for economic development initiatives, such as development of direct marketing materials, website development, research projects that are directly applicable to recruitment strategies, and work related to potential SURE Sites properties, including the completion of environmental and geo-technical studies, infrastructure assessments and other preparatory analysis.
     
  • Sponsorship Match Grant ? provides matching funds for specific economic development events. Selections are based upon the quality of the event, how well the event addresses an economic need in the community, and the audience. Special consideration is given to projects that provide an interface among economic development partners.
     
  • Professional Development Assistance Match Grant ? provides matching funding to economic developers in their efforts to enhance their professionalism and expertise. Applicants must have one year of experience in economic development, as well as experience in the communities they are representing, before participating. Applicants may apply for one training opportunity per year.

Eligible courses are those sponsored by the International Economic Development Council. Other courses may be considered if they demonstrate a resource for the tools necessary to the economic development profession. Information on professional development courses can be found online at www.iedconline.org. 

How the Program Works


EDCUtah uses the Community Match Grant Program to reimburse up to half of the cost of a pre-approved project (to a maximum of $5,000). Established guidelines specify allotment amounts according to the three grant types. Franks says grant awards are based on the quality of the project, how well the project fits into the community's overall marketing strategy, the distribution plan, audience, follow-up plans and the ability to measure results. Special consideration is given to certain projects, including:

  • Those headed by a full-time economic development staff person.
     
  • Projects that have available matching funds from the applying organization.
     
  • Projects that leverage resources and partnership with local and regional partners, as well as with EDCUtah.

Click here to access the online Community Match Grant Application.

Sponsorship reservations for the 2009 EDCUtah Match Grants Golf Tournament can be made with Art Franks 801.323.4242 after June 4, 2008.
 
In The News

Economic Development Headlines from the Past Week

Forbes Lists Salt Lake City Among 'Recession Proof'

- In a story on America's "recession-proof" cities, Forbes Magazine says of Salt Lake: "Though Salt Lake City's unemployment rate is rising, it's still among the lowest of the country's 50 largest cities ... The state is still creating jobs, just not as quickly as its labor force is growing. A November 2007 report from the U.S. Conference of Mayors projected that Salt Lake City would be one of the few large cities in the country not to suffer a decline in gross metropolitan product from the mortgage crisis."

Provo/Orem Area Named Country's Most Livable Costco City

- Provo/Orem area is named the most livable Costco city in the country by Sperling's Best Places, a firm that analyzes data about people and places for major publications and corporations. The firm evaluated cities across the country in more than 50 categories, including housing, economy, climate, crime, education, recreation, arts, culture and health. Said Bert Sperling, ?We strove to balance quality of life and affordability.? Read more in the Costco Connection magazine.

Governor calls for making Utah's workforce more globally competitive

- Gov. Jon Huntsman Jr. has established a committee to look at how to improve Utah's workforce in order to better compete in the global economy. (Deseret Morning News) (KCPW)

Expo hall at Davis Conference Center to allow bigger trade shows, meetings

- Davis County will dedicate an expansion to its conference center this week, doubling the facility's size and opening the door to larger conventions and trade shows. The dedication of the new Eclipse Expo Hall is planned for Friday, and the Northern Utah Recreation Expo will follow that evening and Saturday. (SL Tribune)

Salt Lake County funds to help stadium?

- It looks like Salt Lake County could end up ponying up more cash to the Sandy soccer stadium after all. But no money will actually go straight to the stadium. Instead, the county might extend a deal that gives Sandy $300,000 a year for the Sandy Amphitheater. The county has provided that funding for several years now, but the deal was supposed to end this year. (Morning News)  

Soccer stadium funding hits a snag

- On Monday, Mayor Peter Corroon sent Sandy's economic development director a letter saying he "would not support Salt Lake County contributing its tax increment" to the community development agency. And even if Corroon supported the CDA, he doesn't have the votes on the County Council to approve the plan. (Morning News) 

Real Salt Lake stadium: S.L. County to halt contributions

- SANDY - Salt Lake County won't be kicking in any more money toward Real Salt Lake's soccer stadium. Sandy, banking on participation from the county and other taxing entities, has pledged up to a $10 million property-tax rebate for the $110 million project at 9256 S. State St. But Mayor Peter Corroon has told Sandy to count the county out. (SL Tribune)

China goes West: Utah companies prepare for more Chinese tourists

- That's the vision that some Utah tourism-industry executives have, now that China and the United States have an arrangement designed to let Chinese groups travel for fun throughout America. The vision includes someday soon topping the record 320,000 Chinese visitors to the United States in 2006.
(Morning News)

Forbes: SLC will weather storm

- Salt Lake City is one of the 10 most "recession-proof" cities in the country, according to Forbes magazine. (SL Tribune)

Davis Conference Center Expansion Debuts

- The Davis Conference Center revealed its 44,000-square-foot expansion with a bang during a grand opening celebration last Friday. Doubling as an outdoor and recreation trade show, the expansion's grand opening brought in hundreds of people and more than 40 exhibitors, who showed off snowmobiles and RVs, among other outdoor toys. (Utah Business Magazine)

Salt Lake Chamber and Humana Partner to Provide Health Solution to Small Businesses

- Recognizing the need for affordable coverage for small businesses, the Salt Lake Chamber and Humana of Utah announced that they will offer a consumer-oriented Chamber Health Plan to small employers (those with 2-99 employees) that are members of the Salt Lake Chamber. (Utah Business Magazine)

Long Term Care Costs in Utah Increase 13 Percent

- The cost of nursing home care in Utah has increased 13 percent since 2004, according to an annual Cost of Care Survey released yesterday by Genworth Financial. This compares to a 17 percent increase nationwide.
(Utah Business Magazine)
 

CALENDAR


May 14: Board Meeting
May 18-21: ICSC (Las Vegas)
May 18-22: SAMPE (Long Beach)
June 4: Golf Tournament (Wasatch Mountain)
June 9-12: AUVSI (San Diego)
June 17-20: BIO (San Diego)
June 18: Executive Committee (EDCUtah)
June 25: Quarterly Update (location TBD)
Aug. 6: OIA Thought Leader
Sept. 13-17: IAMC (Oklahoma)
Sept. 25: What's Goin' Down Up North - Northern Utah Economic Summit Thursday, September 25, 9 a.m. - 3 p.m. Utah State University Innovation Campus, North Logan. Registration form.
Oct. 9-12: CoreNet (Orlando)
Oct. 22: Quarterly Update
Dec. 17: Holiday Open House (EDCUtah)

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